calif corp. buy out of minority stockholder

[bca747]

What is the name of your state? California Corporation: Minority stockholder, as corporate president, wants to dissove corporation and majority stockhoders want to continue operating under the corporate structure. Who prevails? Chairman of the board is part of the majority stockhoder group.

 

[BelizeBreeze]

REally now. What is the meaning of Minority stockholder? This is not a legal question. It's one that can be answered by reading your corporation by-laws and charter.

 

[JETX]

Let me make it really easy for you.... PURCHASE the shares held by one who wants to bail. This can be done by any individual.... or group.

 

[bca747]

Minority Shareholder (33%)

California Corporation: Thank you for your reply. The purchase of the minority shareholder's interest is the preferred choice to resolve the relationship; however, that party is not interested in selling and seeks to create a burden to the remaining two sharehoders by forcing the dissolution process.

 

[BelizeBreeze]

Then just beat the crap out of the prickv

 

[bca747]

Minority sharehoder

Is that the best available? LOL Can you shed any light on the buyout vs. dissolution? I guess the chairman could call a board meeting and amend the by-laws to address this issue. Agree?

 

[JETX]

California Corporation: Thank you for your reply. The purchase of the minority shareholder's interest is the preferred choice to resolve the relationship; however, that party is not interested in selling and seeks to create a burden to the remaining two sharehoders by forcing the dissolution process.

*** I would suggest that there be a shareholders meeting.... with a new election of officers. If this person is a minority shareholder, replace him. Then after that is done, all kinds of things open up..... different classes of shares, board statement of non-dissolution, etc.
However, you will likely need to talk with a local attorney who can review all of the issues of the BOARD and advise the best options.

 

[bca747]

minority sharehoder

Thany you Jetx for your response; much appreciated.