Legal Question in Business Law in Alabama

selling corporate shares

I own 49% interest in a company. The other shareholder and I are not getting along. We still have a bank lien on the business. I was wondering if I could sell my share to someone? We did not have an agreement drawn up. Thanks


Asked on 4/15/07, 7:15 pm

1 Answer from Attorneys
Jack Carney The Law Office of Jack Carney, LLC

Re: selling corporate shares

Absent a buy-sell agreement, you can sell your shares (although it might be difficult to locate a willing buyer). However, check all corporate paperwork (including the Articles, By-laws, and the back of the stock certificates) to ensure that there are no restrictions regarding a sale. Good luck.

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Answered on 4/16/07, 12:51 am


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