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Buy Sell Agreement Between Shareholders and a Corporation

Primerica Shareholder Services Log In In Santa Clara

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Category:

Contracts - Buy Sell - Stock Purchases

State:

Multi-State

County:

Santa Clara

Control #:

US-00442

Format:

Instant download

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Description

The Buy-Sell Agreement is a legally binding contract designed to outline the sale and purchase conditions of stock shares between stockholders and the corporation. This form is particularly relevant for individuals involved with Primerica shareholder services log in in Santa Clara, providing a structured process for stock transactions, especially upon the death of a stockholder. Key features include the valuation of stock shares, procedures for transfers, and terms for payment, which can be made in cash or via promissory notes. The agreement ensures that all parties are aware of their rights regarding stock ownership, sale, and transfer, thus offering clarity and security for all stockholders involved. Filling out the agreement involves accurately detailing each stockholder's shares, addressing the insurance policies in place, and specifying the payment structure. Legal professionals like attorneys and paralegals can utilize this document to guide their clients through the complexities of corporate ownership transfer and stock valuation, making it essential for partnerships or corporations to manage stockholder relationships effectively. It serves as an essential tool for owners and associates looking to protect their interests and maintain smooth operational dynamics within the corporation.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

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Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

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FAQ

To access fund or account information via the Internet, go to .shareholder.primerica, and click on “Already A Client?” in the lower right-hand portion of the screen, which will take you to the login page for Shareholder Account Manager. You must login to access your account information.

To cancel your Primerica Life Insurance policy, please call Client Services directly at 1(800) 257-4725, and they can assist you.

What is Primerica Online? With Primerica Online (POL), you get access to: The latest company announcements updated daily. Success stories of Primerica Representatives climbing their way to the top. Video clips from company broadcasts, trips and conferences.

By Phone. To obtain fund or account information, or to speak with a Customer Service Representative, please dial 1-800-544-5445.

To cancel your Primerica life insurance policy: Call customer service on 888-737-2255. Ask to speak with an agent. Provide them with your policy number and customer details.

If you submit an additional investment for a fund that has merged to another fund, Primerica Shareholder Services (PSS) may make your investment in the new merged fund. Your investments may continue to be invested in the new merged fund unless you notify PSS otherwise.

Primerica, Inc. Primerica is the parent company of National Benefit Life Insurance Company, Primerica Life, Peach Re, and Vidalia Re. Primerica acquired e-Telequote in July 2021. The company that would become Primerica was founded in 1981.

MyPrimerica App | Download MyPrimerica Mobile App | Primerica.

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Buy Sell Agreement Between Shareholders and a Corporation

BUY-SELL AGREEMENTS

Introduction

A buy-sell (business purchase) agreement is an agreement between the owners of the business for purchase of each others interest in the business. The buy-sell can be triggered in the event of the owner's death, disability, retirement, withdrawal from the business or other events.

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

The agreement provides for the purchase price, terms and funding arrangements. The agreement obligates the retiring or disabled owner or owner's estate to sell the business to the business itself, or to the surviving owner(s), or maybe an option of either.

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Each partner agrees with each of the other partners to purchase his or her share of the business at the time of death. The Partners may take out a life insurance policy on the life of the other(s) to fund the obligation. At the time of the first death, the surviving partner(s) collects the insurance proceeds. The survivor then uses the insurance proceeds to buy the business share from the deceased's family. This type agreement can be used with two or more partners.

Entity Purchase Plan

Each partner agrees that upon death his or her share of the business will be sold back to the business. The business may buy life insurance policies on each of the partners to fund the obligation. At the death of a partner, the business collects the insurance proceeds and buys the business interest from the deceased partner's heirs.

Transfer Restrictions

The agreements commit the owners not to sell ownership in the business prior to death, without first offering it to the persons named in the agreement. This is called a right of first option or refusal.

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

The life insurance industry also offers "Business Value Life Insurance" with a death benefit determined by the value of the business rather than the terms of the policy. The death benefit can grow as the value of the business grows. Premiums may also be higher as the death benefit increases.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Agreements may provide that the price will be paid in cash, in installments, or other means. You may also select a combination of cash and installments. Of course, if the insurance proceeds are sufficient to pay the price in cash many agreements provide that the purchase is to be paid in full in cash from the insurance proceeds.

Buy Sell Agreement Between Shareholders and a Corporation

BUY-SELL AGREEMENTS

Introduction

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Entity Purchase Plan

Transfer Restrictions

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Primerica Shareholder Services Log In In Santa Clara

This form is part of a form package!

Description

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FAQ

How do I access my Primerica account?

What is the 800 number for Primerica?

What is Primerica online?

What is the phone number for Primerica shareholder login?

Where can I find my Primerica shareholder account number?

What is the number 8887372255?

What is Primerica shareholder services abbreviation?

Does Primerica still exist?

Does Primerica have an app?

Explore more forms

Trusted and secure by over 3 million people of the world’s leading companies

Primerica Shareholder Services Log In In Santa Clara

This form is part of a form package!

Description

Related forms

Get your form ready online

Looking for another form?

Viewed forms

Form popularity

FAQ

How do I access my Primerica account?

What is the 800 number for Primerica?

What is Primerica online?

What is the phone number for Primerica shareholder login?

Where can I find my Primerica shareholder account number?

What is the number 8887372255?

What is Primerica shareholder services abbreviation?

Does Primerica still exist?

Does Primerica have an app?

Primerica Shareholder Services Log In In Santa Clara Related Searches

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Trusted and secure by over 3 million people of the world’s leading companies