Selling minority shares of S-corp. stock?

What is the name of your state? SC

Just curious if anyone knows the rules in regards to selling minority shares of stock for an S-corporation that we no longer wish to be involved in? We own approx. 14% and want to offer the shares back to the majority owner or another shareholder. We don't agree with the way the coporation is being run. We think the maj. shareholder will accept them, but what if she doesn't? Can we force the corporation to buy them back? And will we need a lawyer...?

Thanks,
Marcie74

And when you made the initial purchase what sales agreement did you sign and what does it state as to resale and/or buy-back?

"Just curious if anyone knows the rules in regards to selling minority shares of stock for an S-corporation that we no longer wish to be involved in?"
*** There are no 'special' rules. Simply, you own shares in a corporation that is not traded publicly and very likely has no market.

"We own approx. 14% and want to offer the shares back to the majority owner or another shareholder. We don't agree with the way the coporation is being run. We think the maj. shareholder will accept them, but what if she doesn't?"
*** Then you can give them to a local charity. Or try to find someone else who might be interested in purchasing them.

"Can we force the corporation to buy them back?"
*** Unless you have some provision in the corporations by-laws, articles or written agreement, no. Also, some corporations have 'first-right' privileges on share transfers.

"And will we need a lawyer...?"
*** Not if you can find a willing buyer. There should be a place on the shares to allow sale or transfer of the shares. You will also have to notify the corporation in writing of the sale and the new owner information.