A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partnership, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both.
A buy-sell agreement is an agreement between the owners (shareholders) of a firm, defining their mutual obligations, privileges, protections, and rights. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Hawaii Shareholders' Agreement with Buy-Sell Agreement Allowing Corporation the First Right of Refusal to Purchase the Shares of Deceased Shareholder should the Beneficiaries of the Deceased Shareholder Desire to Sell such Shares
Category:
State:
Multi-State
Control #:
US-02629BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Shareholders' Agreement With Buy-Sell Agreement Allowing Corporation The First Right Of Refusal To Purchase The Shares Of Deceased Shareholder Should The Beneficiaries Of The Deceased Shareholder Desire To Sell Such Shares?
If you aim to summarize, acquire, or print sanctioned document templates, utilize US Legal Forms, the primary assortment of legal forms accessible online.
Leverage the site's straightforward and user-friendly search to find the paperwork you need. Various templates for commercial and personal uses are categorized by types and regions, or keywords.
Employ US Legal Forms to locate the Hawaii Shareholders' Agreement with Buy-Sell Agreement Granting Corporation the Initial Right of Refusal to Acquire the Shares of Deceased Shareholder if the Heirs of the Deceased Shareholder Wish to Sell such Shares with just a few clicks.
Each legal document template you acquire is yours indefinitely. You have access to all forms you downloaded with your account. Navigate to the My documents section and select a form to print or download again.
Engage and acquire, and print the Hawaii Shareholders' Agreement with Buy-Sell Agreement Granting Corporation the Initial Right of Refusal to Acquire the Shares of Deceased Shareholder if the Heirs of the Deceased Shareholder Wish to Sell such Shares using US Legal Forms. There are millions of professional and state-specific forms you can utilize for your business or personal needs.
- When you're already a US Legal Forms user, sign in to your profile and hit the Download button to obtain the Hawaii Shareholders' Agreement with Buy-Sell Agreement Granting Corporation the Initial Right of Refusal to Acquire the Shares of Deceased Shareholder if the Heirs of the Deceased Shareholder Wish to Sell such Shares.
- You can also view forms you previously downloaded from the My documents section of your profile.
- If you are new to US Legal Forms, follow the guidelines outlined below.
- Step 1. Ensure you have selected the form for the correct state/region.
- Step 2. Use the Review option to browse the form’s content. Don’t forget to read the description.
- Step 3. If you are not satisfied with the form, employ the Search field at the top of the page to find different versions of the legal document template.
- Step 4. Once you have located the form you need, click the Buy now button. Choose your preferred payment plan and enter your details to create an account.
- Step 5. Complete the payment process. You can utilize a credit card or PayPal account to finalize the purchase.
- Step 6. Select the format of the legal document and download it to your device.
- Step 7. Complete, modify, and print or sign the Hawaii Shareholders' Agreement with Buy-Sell Agreement Granting Corporation the Initial Right of Refusal to Acquire the Shares of Deceased Shareholder if the Heirs of the Deceased Shareholder Wish to Sell such Shares.
Form popularity
FAQ
The answer is usually no, but there are vital exceptions. However, there are a few situations in which shareholders must sell their stock even if they would prefer to hold onto their shares. The two most common are when a company gets acquired and when it has an agreement among shareholders calling for forced sales.
Does a shareholders' agreement override articles? No, a shareholders' agreement will not override the Articles if there is a conflict, then the articles will prevail.
To buyout a shareholder, a company must be able to pay for the value of the ownership interest. A company can fund the purchase of a shareholder's interest by using: The Assets of the Business: A buyout agreement may stipulate that the company can pay over time with the income earned from the business.
Yes. Most companies that raise investment (on Crowdcube or elsewhere) include a drag along procedure in their articles of association. The procedure is designed to ensure that minority shareholders cannot block an exit by the majority.
Definition. 1. A buy-sell agreement is an agreement among the owners of the business and the entity. 2. The buy-sell agreement usually provides for the purchase and sale of ownership interests in the business at a price determined in accordance with the agreement, upon the occurrence of certain (usually future) events.
The sale of the shares may be accomplished in two very different ways. First, each shareholder can agree to purchase, pro rata or otherwise, all the stock being sold. This is called a "cross purchase" of stock.
The answer is usually no, but there are vital exceptions. However, there are a few situations in which shareholders must sell their stock even if they would prefer to hold onto their shares. The two most common are when a company gets acquired and when it has an agreement among shareholders calling for forced sales.
When some of the shareholders wish to sell their share, a clause in the shareholder's agreement should state that the shareholders who wish to sell their shares have to show the right to match an offer received from a third party. This is known as the right of first refusal.
Entity-purchase agreement Under an entity-purchase plan, the business purchases an owner's entire interest at an agreed-upon price if and when a triggering event occurs. If the business is a corporation, the plan is referred to as a stock redemption agreement.
The business owners individually own the policies insuring each other's lives. When a business owner dies, the proceeds are paid to those surviving owners who hold one or more policies on the deceased owner, and these surviving owners buy the shares from the deceased owner's personal representative.