Legal Question in Business Law in Kentucky
i presently am 51% stockholder and my husband-49, we are divorcing, leaving the s corp operating the way it has for 35 yrs, what ratio of control do i have
Asked on 12/03/10, 4:53 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney it sounds like you have controlling interest in the corporation. This means you basically call all the shots, although you have a duty to act fairly with respect to the minority shareholder (husband). How this will all resolve in your divorce proceeding is entirely unknown and should also be considered. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 12/09/10, 6:57 am
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