North Dakota Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders

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Description

A Legend is a statement on a stock certificate noting restrictions on the transfer of the stock, often due to SEC requirements for unregistered securities. A stock redemption agreement is a contract between a corporation and the stockholder, where the corporation repurchases the stock from the owner

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FAQ

Types of Buy-Sell Agreements In a cross-purchase agreement, the remaining owners or partners purchase the share of the business that is for sale. In an entity-purchase agreement (also known as a redemption agreement), the business entity itself buys the deceased's share of the business.

Share repurchases are a popular method for returning cash to shareholders and are strictly voluntary on the part of the shareholder. Redemptions are when a company requires shareholders to sell a portion of their shares back to the company.

?A share buyback happens when a company pays shareholders current market share value to reabsorb a portion of its ownership. Share redemptions occur when a company requires shareholders to sell a portion of their shares back to the company.

A stock redemption agreement is a buy-sell agreement between a private corporation and its shareholders. The agreement stipulates that if a triggering event occurs, the company will purchase shares from the shareholder upon their exit from the company.

Most importantly, a stock redemption plan provides tax-free, cash resources to pay a deceased owner's surviving family for their share of the business. Without extra funds available, a business might otherwise have to liquidate or sell assets in order to stay afloat during such a challenging time.

Another common type of buy-sell agreement is the ?stock redemption? agreement. This is an agreement between shareholders in a company that states when a shareholder leaves the business, whether it be due to retirement, disability, death, or other reason, the departing members shares will be bought by the company.

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North Dakota Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders