This a shareholders' agreement for a professional service corporation which has been managed over time by the two founding shareholders and is about to admit another shareholder. It addresses governance, income-sharing, indemnities, repayment of loans, disability, termination of the relationship, retirement, and all other issues commonly found in shareholders' agreements.
Georgia Shareholders Agreement
State:
Multi-State
Control #:
US-L02035
Format:
Word;
PDF;
Rich Text
Instant download
Description
Free preview
How to fill out Georgia Shareholders Agreement?
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FAQ
A shareholders' agreement (SHA) is a contract between a company's shareholders and often the company itself. A SHA specifies shareholders' rights and obligations, regulates the management of the company, ownership of shares, privileges, voting and various protective provisions for shareholders.
A shareholders' agreement includes a date; often the number of shares issued; a capitalization table that outlines shareholders and their percentage ownership; any restrictions on transferring shares; pre-emptive rights for current shareholders to purchase shares to maintain ownership percentages (for example, in the
In case of public company if the terms and conditions in the shareholders agreement is not in contravention to the provisions of the company act and the articles of association then it would be enforceable against the members. Albeit, no obligations can be imposed on the statutory powers of the company.
Shareholder Agreements or Share Subscription Agreements often have an indemnity clause and need to be stamped accordingly.
But because a shareholder agreement is a contract, it's always best to enlist the help of a lawyer who understands the terms and conditions required in a legally binding contract. A lawyer can help guide you through the process of creating your shareholder agreement in a way that you can't do yourself.
A shareholders' agreement is optional. The contents and provisions vary in different cases. The details depend on the nature of the entity, the class of shares, and many other factors. There are basic components that every shareholder's agreement contains.
Is it a public document? Because a shareholders' agreement is essentially a private contract between the shareholders of a company, its contents are not to be made public unless required.
The appointment of directors and quorum requirements, determining the matters requiring special resolution or providing veto rights to certain shareholders, financial needs of the company, restrictions on right to transfer shares freely, defining the obligation of each of the shareholder towards the company.
Most shareholders agreements will say how many shares each party owns and how much they've invested in the company. The agreement will typically outline who is to work in the company and on what terms, with all the shareholders usually entitled to be directors.
More info
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Reiner, 290 Ga. App. 471, 659 S.E.2d 848 (2008) held it axiomatic that a corporation must be a party to a shareholders contract in order to ... By JJ Goger · 2014 ? It has been accepted for inclusion in Georgia Business Court OpinionsThe relevant Shareholder Agreement provisions are as follows:. The limited partnership agreement may govern which partners or classes of partners control the entity. As with general partnerships, Georgia law will govern the ...2 pages
The limited partnership agreement may govern which partners or classes of partners control the entity. As with general partnerships, Georgia law will govern the ... Data entry for the GA 600S-CA is on the GA NR screen, on the Other tab, however, you no longer separately indicate agreement to these two lines. What is the difference between shareholders, directors and officers?formality of a Close Corporation and still have a custom shareholder agreement? Formation of corporations in Georgia is governed by the Corporations andto outside parties at-will unless restricted by a shareholder's agreement.