New Mexico  |  Business Law

Legal Question

Asked on: 12/04/11, 10:41 am

I'm a shareholder in a painting and sandblasting business with 25% ownership in the land, the building and business. My sister, who's now owns 50% and runs it with her son will not pay me anything whatsoever. It's been years since I've received a penny and I tried going thru the courts for relief only that was costing me a small fortune. I live in New Mexico so I'm not there to do anything. I inherited this mess via a Trust from my Dad. It's a S Corp with revenues around $500k.

My question is this: can I appoint a power of attorney to go into the business and get keys to the business, work on weekends, get into the books etc? I figure that the POA can bring work into the business on the weekends and that way I can collect all of the past due dividends, rent, owner disbursements etc.

Would I have to offer the sale of my shares to the other shareholders first?

Thank you,


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