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We have an income Tax company, and we are three people, We ...

Sent to Legal Experts October 16, 2007 5:32 p.m.

We have an income Tax company, and we are three people, We formed this company in 2004 with the three of us as president, vice president, and treasurer. We bought businesses under the company name, but have not issued stock certificates as of yet. Who has the right over the company ? Will it be the president, vice president, or the treasurer ? Will it be possible to vote against the president and kick him out of the company ? How is the procedure to do it ? Who has the right to sign and issue a stock certficate ? Can the vice president and the treasurer issue stock certificates ? My other question is: Bank of america has opened a bank account for the president with him as a signer WITHOUT asking for a corporate resolution from the board of directors ? Is this legal or illegal ? Do you have the right to sue bank of america ? It does states on thier website that a resolution is required when openning a business corporate bank account. any ideas is greatly appreacited.

Optional Information:
Tarpon Springs, Florida

Already Tried:
NA

Customer (name blocked for privacy)

Status: Closed Value: $30

Info Request
October 17, 2007 10:19 a.m. (16 hours and 47 minutes later)

REPLIED to Info Request

Customer (name blocked for privacy):

What form of entity did you choose when you formed the company? Is it an LLC, a corporation (S or C); or a partnership? Did you prepare any form of shareholders or partnership agreement? What are your respective percentages of interest?

Get back to us when you can.

Thank you.

Dan

Dan -- Retired JD -- 100% Positive Feedback on 874 Legal Accepts
Retired attorney, general practice, with an additional background in financial planning,

Reply to Dan
Sent October 17, 2007 11:15 a.m. (56 minutes and 13 seconds later)

Hi dan,

Thanks for considering my case, The corporation is a C corporation. There was no shareholder agreements. It was verbally said that I am ( vice president ) is 35% owner, and the president is 35% owner, and the treasurer is 35% owner. We have not yet issued any agreements of certificates. What should we do to gurantee our share ? Who has the right to issue it ? Can the vice president and the treasurer do it by themselves ?

Customer (name blocked for privacy)

Info Request
October 17, 2007 11:30 a.m. (14 minutes and 21 seconds later)

Thank you for the additional information.

I'll be out for part of the day, so I'll take a look at this issues here this afternoon or evening.

Dan

Dan -- Retired JD -- 100% Positive Feedback on 874 Legal Accepts
Retired attorney, general practice, with an additional background in financial planning,

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