In Florida, there are two main forms of transferring ownership of a corporation – gradual sales and outright sales. When someone transfers ownership of a corporation via gradual sale, the buyer receives the shares over a pre-determined period, while he/she is still paying the installments.
Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
Under Florida law, a corporation must have at least one director. Directors must be at least eighteen years old. Directors need not be residents of Florida or shareholders of the corporation, unless the articles of incorporation so require.
In Florida, a corporation is only required to have at least one director, however you are permitted to have more. That same person may also be the only shareholder and officer.
For example, every corporation must appoint directors and corporate officers (President, Secretary, Treasurer, etc.).
Corporate bylaws are legally required in Florida. Florida law requires corporations to adopt bylaws.
Florida corporations must have one or more directors. Residence requirements. Directors do not have to be residents of Florida.
The ease of transferring ownership in a corporation depends on the corporation's structure: in closely-held corporations, the process may be more straightforward because there are fewer shareholders while transferring ownership in a publicly-traded corporation involves buying and selling shares, which can be complex ...
Amend the Operating Agreement Your Florida operating agreement will have the names and addresses of all of your LLC members. You will need to amend this operating agreement to remove one of those members off. As with adding a member, you'll also need to vote to remove any members.
To change the name of your business, you must amend your articles of organization, or articles of incorporation. The process is the same, whether you're a corporation or an LLC; however, the forms used by corporations and LLCs are different.