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How can you transfer stock between directors of a corporation?

How can you transfer stock between directors of a corporation?

By Nina Kaufman, Esq.

Q.:  In a privately held company, is it necessary for a stock transfer between two directors to be approved by the shareholders? A.:  Under most state laws, shareholders have the right to approve (or disapprove) any transferring ownership is involved, including a stock transfer.  If the company has multiple classes of stock, the shareholders’ agreement may specify that only the owners of certain classes of will vote on that particular issue – in other words, that particular kind of stock transfer is not an issue open to all shareholders, only some. To answer your specific situation, speak to an attorney in your state to review the different classes of stock, voting rights, and corporate bylaws, all of which will have a bearing on the best way to document the stock transfer. Want to learn more about Kaufman Business Law? This is the video to watch. Watch our Video

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.