Legal Question in Business Law in Illinois
S corporation in Illinois
I own 50 and the pther ownr owns 50, I was the original agent and president. He went behind my back and registered himself as the agent, the president and the secretary. Was that legal and what rights do I have. we are incorporated in illinois.
Asked on 12/05/08, 9:39 pm
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: S corporation in Illinois
It would depend on the corporation's bylaws. I hope you had an attorney assist you with preparing bylaws when you started the corporation (and that you have being doing your annual minutes, otherwise you have more problems than just a rogue partner). If do not have bylaws, or your bylaws do not address this situation, you may have to let a judge decide for you.
Answered on 12/08/08, 11:21 am
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