Legal Question in Business Law in Wyoming

Can you have a minor child as a member of a closed corporation in WY

Asked on 6/30/11, 2:23 am

1 Answer from Attorneys

Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I don't understand what you mean by "member." Corporations have shareholders, officers and directors. Minors can be shareholders, but usually not officers or directors as they lack legal capacity to enter into contracts, etc. 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

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Answered on 6/30/11, 6:48 am

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