Terminating Corp. Officer

[KGarcia]

What is the name of your state? Colorado
I have a Colorado corporation and my partner has a lot of debt. and a huge child support bill. The company is now getting demands to withhold his wages etc. He agrees that he is causing a hardship and also putting the business in a bad position. Next they will be trying to seize the bank accounts.

Can I fire him or remove him in some way??

 

[Zigner]

What is the name of your state? Colorado
I have a Colorado corporation and my partner has a lot of debt. and a huge child support bill. The company is now getting demands to withhold his wages etc. He agrees that he is causing a hardship and also putting the business in a bad position. Next they will be trying to seize the bank accounts.

Can I fire him or remove him in some way??

Is he a Corporate Officer? What do your bylaws say about removal of officers?
If he's just an employee, why doesn't he just resign?

 

[KGarcia]

He is an officer

Yes he is an officer. If I am reading the bylaws correctly he can be removed by vote. But if I do remove him will the problems go away or will they look at it and say, you only removed him to get child support off your back.

 

[Zigner]

Yes he is an officer. If I am reading the bylaws correctly he can be removed by vote. But if I do remove him will the problems go away or will they look at it and say, you only removed him to get child support off your back.

If he's NOT an employee, you will still have to garnish his wages as an employee.