Posts Tagged ‘state’
How to amend the bylaws
Bylaws are not filed with the state so there is no need to file amendments to Bylaws with the state. The Bylaws themselves will usually describe the procedure for making amendments. In most cases, Bylaws are amended by a resolution of the board of directors of the company authorizing the amendment. The resolution is passed » Continue…
How to amend the articles of incorporation
A few common reasons for needing to amend the articles of incorporation include changing the corporate name, increasing or decreasing the authorized shares of stock, or changing the rights or preferences with respect to any classes of stock. Another reason might be if the initial directors were named in the articles of incorporation and these » Continue…
What happens to a small corporation if one of the shareholders dies?
A shareholder’s stock in a small corporation is considered personal property of the shareholder. If the shareholder dies, his personal property passes to his heirs by way of a will, trust, or other method according to the state law where the shareholder lived when he passed away. The problem is that the remaining shareholders in » Continue…
What happens to a shareholder's stock in a divorce?
A shareholder’s stock in a small corporation is considered personal property. If a shareholder is going through a divorce, then the courts will generally consider the value of the stock as part of the division of property between the spouses based upon the state’s divorce laws. If one of the parties to the divorce is » Continue…
