Ownership and divided interest.


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Lmann
Oct 20, 2016 09:24 AM 0 Answers
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No. If someone has 50% +1 then that party is in control of the corporation. You can have a shareholder agreement and designate responsibilities. Shareholder elect directors. Directors appoint officers. Owning 49% makes you a large owner but tomorrow without a shareholder agreement you could be left as an owner and nothing else. I would recommend that you have a shareholders agreement that requires a vote of 50% + 1 to do any major changes like firing you as President.

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