bike2smile
Junior Member
What is the name of your state (only U.S. law)? CA
I am a VP for California-based, family owned and operated insurance firm. We are a closed C-Corp. I am also a minority shareholder.
Recently we have been in turmoil. The CEO and EVP (family members) have a difference of opinion with me (VP) on business operation. As we can't agree, demands are being made that if I don't do what they want, we (majority shareholders CEO & EVP) won't continue to pay my small salary and expenses such as Health Insurance, car, etc. The business pays these things for all corporate officers. Is it legal to single me out?
Furthermore, I am a commissioned salesperson who assigned my commissions to the corp for tax purposes. Can these be taken away from me as well? I am the writing agent which is well-documented.
Thank you in advance for your help...never go into business with family members
I am a VP for California-based, family owned and operated insurance firm. We are a closed C-Corp. I am also a minority shareholder.
Recently we have been in turmoil. The CEO and EVP (family members) have a difference of opinion with me (VP) on business operation. As we can't agree, demands are being made that if I don't do what they want, we (majority shareholders CEO & EVP) won't continue to pay my small salary and expenses such as Health Insurance, car, etc. The business pays these things for all corporate officers. Is it legal to single me out?
Furthermore, I am a commissioned salesperson who assigned my commissions to the corp for tax purposes. Can these be taken away from me as well? I am the writing agent which is well-documented.
Thank you in advance for your help...never go into business with family members