Legal Question in Business Law in Georgia
Who Owns the Corporation?
My ex and I started a for profit corporation in Georgia. I am the registered agent and one of the two incorporators. He is the other incorporator. The articles state that the corporation will have members and shall issue 100 shares. No other paperwork was ever filed (no corporate officers listed, no shares issued, no board of directors formed and no members listed). In this case, who owns the corporation? Who has the authority to issue shares?
1 Answer from Attorneys
Re: Who Owns the Corporation?
That can be a very complicated issue, but most likely it would be treated as a partnership because the corporation was never fully formed. And the two of you would probably be treated as 50/50 partners.
With regard to the shares, the incorporators would appoint the board of directors (or shareholders if the corporation elected no board) who would then issue the shares.
If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
Related Questions & Answers
-
Noncompete I bought a mobile dog grooming business and a noncompete contract was... Asked 1/27/08, 5:28 pm in United States Georgia Business Law
-
Can an LLP represent itself on a Judgment in GA? I want to clarify a question I... Asked 1/21/08, 2:43 pm in United States Georgia Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
