Legal Question in Business Law in Oklahoma

family owned business

my father is suppose to be 20% owner of family owned business, how can I find out if my brother, whom is 60% owner of company has taken his ownership away.

Asked on 1/18/07, 9:33 am

1 Answer from Attorneys

John Graves The Law Office of John H. Graves, PLLC

Re: family owned business

Your father may have a right under the membership or shareholder agreement to examine the records of the business. If he has a right to the business it would be hard to "take away" his ownership interest; it is possible that he could be bought out. Because he is a minority owner he may have very little say in the operation of the business. As always, if you have further specific questions you should contact an attorney that specilizes in organizing and representing small business owners.

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Answered on 1/18/07, 11:28 pm

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