LonelyAtTheTop
Junior Member
This is for a Louisiana company attempting to sell shares.
In a "Sample Share Purchase Agreement" I noticed the following line:
"The Seller would not be recognized as an issuer, insider, affiliate, or associate of the Corporation as defined or recognized under applicable securities laws and regulations."
Is that to say that if I personally own the corporation, that I may not legally personally sell shares of the company, and that I must use a third party? And what exactly are the "applicable securities laws and regulations" I should be referring to?
In a "Sample Share Purchase Agreement" I noticed the following line:
"The Seller would not be recognized as an issuer, insider, affiliate, or associate of the Corporation as defined or recognized under applicable securities laws and regulations."
Is that to say that if I personally own the corporation, that I may not legally personally sell shares of the company, and that I must use a third party? And what exactly are the "applicable securities laws and regulations" I should be referring to?