Archived Thread

NFT: A question for BBI business lawyers.

Tittle 9 20 64 : 4/27/2016 7:41 pm

If a company has has three owners, one owner owns 50% of the business and the other two own 25% each, what happens in a vote situation. If the owner holding 50% votes one way and the other two vote the other way what happens?

depends on the operating agreement

Justlurking : 4/27/2016 7:59 pm : link

otherwise sounds like an impasse.

depends on the type of legal entity,

Les in TO : 4/27/2016 9:33 pm : link

by laws (if any) and the jurisdiction where the corporation is formed. but the real answer is - get actual legal advice!