What is the abbreviation for Primerica?

Primerica, Inc. (PRI) Valuation Measures & Financial Statistics.

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Buy Sell Agreement Between Shareholders and a Corporation

Primerica Shareholder Services Forms In Suffolk

Q: What is the abbreviation for Primerica?

Primerica, Inc. (PRI) Valuation Measures &amp; Financial Statistics.

Category:

Contracts - Buy Sell - Stock Purchases

State:

Multi-State

County:

Suffolk

Control #:

US-00442

Format:

Instant download

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Description

The Primerica shareholder services forms in Suffolk are essential legal documents that facilitate the operation of buy-sell agreements among shareholders of a corporation. This agreement, made between the corporation and its shareholders, ensures a clear process for the sale of shares, whether during a shareholder's lifetime or following their death. Key features include provisions for determining the value of shares, the right of first refusal for existing shareholders, and the handling of life insurance policies to fund the purchase of shares after a shareholder passes away. Filling out the forms requires attention to detail, including establishing share values and notifying parties about any intent to sell or transfer shares. For attorneys, these forms provide a framework for advising corporations on shareholder agreements, while partners and owners benefit from having clear guidelines on stock transactions and financial planning. Paralegals and legal assistants play a vital role in document preparation and ensuring compliance with the specified terms. Overall, these forms serve as a crucial tool for maintaining order and protecting the interests of all parties involved in the corporation.

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FAQ

Primerica Shareholder Services provides access to view your account information over the Internet. Go to .shareholder.primerica and click on “Already A Client?”, which will take you to the Shareholder Account Manager login page. Shareholder Account Manager is available 24 hours a day, 7 days a week.

Primerica Inc. and PFSI are affiliated. The product providers referenced here offer products by contractual relationship with PFS Investments Inc, a subsidiary of Primerica Inc.

To obtain fund or account information, or to speak with a Customer Service Representative, please dial 1-800-544-5445. International callers outside the United States may call 770-381-1000.

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.

By Phone. To obtain fund or account information, or to speak with a Customer Service Representative, please dial 1-800-544-5445. International callers outside the United States may call 770-381-1000.

Primerica, Inc. (PRI) Valuation Measures & Financial Statistics.

Primerica, Inc. is a multi-level marketing company that provides insurance, investment and financial services to middle-income families in the United States and Canada. Primerica, Inc. Primerica is the parent company of National Benefit Life Insurance Company, Primerica Life, Peach Re, and Vidalia Re.

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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 Forms In Suffolk

This form is part of a form package!

Description

Related forms

Viewed forms

Form popularity

FAQ

How do I find my Primerica shareholder account number?

Is PFS the same as Primerica?

How do I call Primerica shareholders?

What is Primerica shareholder services abbreviation?

How do I contact Primerica shareholder services?

What is the abbreviation for Primerica?

What is the official name of Primerica?

Explore more forms

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

Primerica Shareholder Services Forms In Suffolk

This form is part of a form package!

Description

Related forms

Viewed forms

Form popularity

FAQ

How do I find my Primerica shareholder account number?

Is PFS the same as Primerica?

How do I call Primerica shareholders?

What is Primerica shareholder services abbreviation?

How do I contact Primerica shareholder services?

What is the abbreviation for Primerica?

What is the official name of Primerica?

Primerica Shareholder Services Forms In Suffolk Related Searches

Explore more forms

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