new shareholder to S corp and shareholders agreement

[appleseed]

What is the name of your state (only U.S. law)? NY

Would anyone know if a new shareholder to an S corporation is required to sign the already existing shareholder's agreement?

Thanks

 

[tranquility]

It depends. What's happening?

 

[appleseed]

I received shares in 98 (from dad not an inheritance, he signed them over)...and signed the agreement. Yes it is a closely held, family s corp. I had no reason to doubt it was not required so I signed. Very soon there will be a new shareholder who might not be required to sign the agreement. She will be getting the shares as a result of lawsuit directed toward a separate shareholder, not involved with my shares at all. This is what's prompting my question. I am thinking that if new shareholders are not required to sign...then why was I. It's bothering me because the agreement has the usual protective statements in there as to who shares might be left to....I am not married and have no children..so if I was not bound to the agreement then I would have other options as to who I might want to leave my shares to in a will.

Thanks

 

[tranquility]

Why is irrelevant if you signed. Even if someone told you you had to. Sorry.

Here's a legal tip:
DON'T SIGN THINGS YOU DON'T AGREE TO!!!!!!!!!!!!!!!!


Still, all may be governed by the agreement anyway so it doesn't really matter.