Legal Question in Business Law in Washington
Corpoation Reorganiztion
Is it possible to reorganize a corporation and remove officers? Two brothers in the business and one wants to sell. I don't believe the brother that wants to buy the business is an officer.
Asked on 7/19/06, 10:11 am
1 Answer from Attorneys
Jahnis Abelite
ABELITE LAW OFFICES, P.S.
Re: Corpoation Reorganiztion
All of this type of business reorganization can be done without terminating the business operations or existence of the corporation. You shoul dseek the advice of a competent business lawyer so that the change in ownership can be done with as little effort and expense as possible. There may be good reasons to terminate a corporation's existence upon sale but such considerations are examined in light of the facts of each situation individually. Good Luck!
Answered on 7/20/06, 11:42 am
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