Trustee of trust is a shareholder
a small percent of the Shares to a corpoation are held in a irrevocable trust, the corporation's by-laws reqire that a director to be elected must be a shareholder does the trustee of the trust which owns the shares hold the legal status of a shareholder?
Asked on 7/21/05, 9:12 pm
1 Answer from Attorneys
Norman Nadel
Norman Nadel, Esq.
Re: Trustee of trust is a shareholder
THE TRUSTEE IS A SHAREHOLDER IN HIS/HER /ITS FIDUCIARY CAPACITY.
THE TRUSTEE IS PROBABLY ELIGIBLE TO SERVE AS A DIRECTOR. READ THE BY-LAWS.
Answered on 7/22/05, 8:39 am
