Legal Question in Business Law in Delaware
Consideration for fully paid up shares
Can a Delaware corporation issue fully paid shares to employees for consideration that is received in the countries where the employees reside in; without remitting the consideration to the US? Is remittance of the amount to the US mandatory under any law?
1 Answer from Attorneys
Re: Consideration for fully paid up shares
From the limited information available it is not clear that whether the shares were issued under Employee shareholerd scheme or otherwise.
However once consideration is received by the Company in any country and subsequent to which a valid share certificate(s) are issued out of the share capital of the Company, all rights or liablities attached to the said shares become enforceable against the Company, no matter for what considertion the share were issued and in which country the consideration was revceived.
After issue of share certificate the Company is bind by the Doctrine of indoor management, under which, it is company's internal policy, how to receive payment against the issue of the shares.
Vimal
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