Legal Question in Business Law in Delaware

I have a question. Do the officers of an S-Corp have to have ownership of the corporation or can a person be an officer but have no ownership? Can a person be the President of an S-Corp but not be a shareholder?

Judy


Asked on 1/17/12, 10:40 am

1 Answer from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Generally speaking, unless otherwise mandated in the bylaws, officers do not have to be shareholders of the corporation. The President is an officer, therefore subject to the bylaws, the president does not have to be a shareholder.

If you have any further questions feel free to contact my office at your earliest convenience.


Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

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Answered on 1/19/12, 7:58 am


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