B
BrianSport
Guest
I, my wife, and soon to be ex-brother-in-law("STBEBIL"), started a business in 2000 and, to this day, make up its board of directors. We are incorporated in Delaware.
STBEBIL has --literally-- done nothing whatsoever. A fact he acknowledges. in fact, he still owes $3K on his initial investment. A fact he does not acknowledge. What do my wife & I have to do to vote him off the board of directors?
We are concerned that, if something were to happen to she or I, STBEBIL would have an equal voice in matters. So, what procedurally (or whatever) has to be done?
FYI: He owns 29% of the allocated shares, which we are not thrilled about, but believe that there is little we can do about it.
STBEBIL has --literally-- done nothing whatsoever. A fact he acknowledges. in fact, he still owes $3K on his initial investment. A fact he does not acknowledge. What do my wife & I have to do to vote him off the board of directors?
We are concerned that, if something were to happen to she or I, STBEBIL would have an equal voice in matters. So, what procedurally (or whatever) has to be done?
FYI: He owns 29% of the allocated shares, which we are not thrilled about, but believe that there is little we can do about it.