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Buy Sell Agreement Between Shareholders and a Corporation

Primerica Shareholder Services Phone Number

Category:

Contracts - Buy Sell - Stock Purchases

State:

Multi-State

Control #:

US-00442

Format:

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Description

The document is a Buy-Sell Agreement that effectively governs the sale and purchase of stock interests in a corporation among stockholders. A key feature is the inclusion of the Primerica shareholder services phone number for any inquiries regarding stock management. It outlines the process for stock transfer upon the death of a stockholder and establishes procedures for selling shares during a stockholder's lifetime. The document specifies how the purchase price is determined and the role of life insurance in funding the transactions. It includes instructions for filling out the schedule sections to track ownership changes and stock valuations. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants who require a structured approach for managing shareholder agreements and ensuring compliance with corporate governance. The clarity of this form supports users with minimal legal experience, allowing them to navigate their responsibilities effectively.

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How to fill out Buy Sell Agreement Between Shareholders And A Corporation?

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FAQ

Shareholder Sign On Please note that you may also access your accounts via the automated Primerica Shareholder Services Investor Line by dialing (800) 544-5445. If you experience any problems logging in, please call one of our Client Service Representatives at (800) 544-5445.

Largest shareholders include EP Wealth Advisors, Inc., Vanguard Group Inc, Kayne Anderson Rudnick Investment Management Llc, Fmr Llc, BlackRock Inc., Brave Warrior Advisors, LLC, Bamco Inc /ny/, BGRFX - BARON GROWTH FUND, Burgundy Asset Management Ltd., and VTSMX - Vanguard Total Stock Market Index Fund Investor Shares ...

Fax Service ? If your request does not require a signature guarantee or additional documentation, you may fax this request to 833-748-4712 for processing.

To obtain fund or account information, or to speak with a Customer Service Representative, please dial 1-800-544-5445.

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Buy Sell Agreement Between Shareholders and a Corporation

BUY-SELL AGREEMENTS

Introduction

A buy-sell (business purchase) agreement is an agreement between the owners of the business for purchase of each others interest in the business. The buy-sell can be triggered in the event of the owner's death, disability, retirement, withdrawal from the business or other events.

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

The agreement provides for the purchase price, terms and funding arrangements. The agreement obligates the retiring or disabled owner or owner's estate to sell the business to the business itself, or to the surviving owner(s), or maybe an option of either.

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Each partner agrees with each of the other partners to purchase his or her share of the business at the time of death. The Partners may take out a life insurance policy on the life of the other(s) to fund the obligation. At the time of the first death, the surviving partner(s) collects the insurance proceeds. The survivor then uses the insurance proceeds to buy the business share from the deceased's family. This type agreement can be used with two or more partners.

Entity Purchase Plan

Each partner agrees that upon death his or her share of the business will be sold back to the business. The business may buy life insurance policies on each of the partners to fund the obligation. At the death of a partner, the business collects the insurance proceeds and buys the business interest from the deceased partner's heirs.

Transfer Restrictions

The agreements commit the owners not to sell ownership in the business prior to death, without first offering it to the persons named in the agreement. This is called a right of first option or refusal.

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

The life insurance industry also offers "Business Value Life Insurance" with a death benefit determined by the value of the business rather than the terms of the policy. The death benefit can grow as the value of the business grows. Premiums may also be higher as the death benefit increases.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Agreements may provide that the price will be paid in cash, in installments, or other means. You may also select a combination of cash and installments. Of course, if the insurance proceeds are sufficient to pay the price in cash many agreements provide that the purchase is to be paid in full in cash from the insurance proceeds.

Buy Sell Agreement Between Shareholders and a Corporation

BUY-SELL AGREEMENTS

Introduction

Reasons For The Agreement

Establish the value of the business for federal and state death tax purposes.

Unwilling to continue the business with the family of a deceased co-owner.

Prevent all or part of the business from falling into the hands of "outsiders."

The Agreement Basics

Types Of Agreements

The Buy-Sell agreements can take several forms, such as:

An agreement between the business and the individual owners (stock redemption agreement or stock retirement plan).

An agreement between the owners (a cross purchase or "criss-cross" agreement).

An agreement between the owners and key person, family member or outside individual (a "third party" business buy-out agreement).

A combination of the foregoing.

Basically, these are either a Cross Purchase Plan or Entity Purchase Plan.

Cross Purchase Agreement

Entity Purchase Plan

Transfer Restrictions

Life Insurance to Fund the Agreement

Whole life insurance has generally been used to fund a buy-sell agreement.

Purchase Price

The purchase price can be based on an appraisal, set predetermined price, book value, or a formula of assets and earnings.

Payment Terms

Primerica Shareholder Services Phone Number

This form is part of a form package!

Description

Related forms

Viewed forms

How to fill out Buy Sell Agreement Between Shareholders And A Corporation?

Form popularity

FAQ

How do I check my Primerica investment account?

Who are the shareholders of Primerica?

How do I access my Primerica account?

What is the fax number for Primerica shareholder services?

How do I find my Primerica shareholder account number?

Trusted and secure by over 3 million people of the world’s leading companies

Primerica Shareholder Services Phone Number

This form is part of a form package!

Description

Related forms

Viewed forms

How to fill out Buy Sell Agreement Between Shareholders And A Corporation?

Form popularity

FAQ

How do I check my Primerica investment account?

Who are the shareholders of Primerica?

How do I access my Primerica account?

What is the fax number for Primerica shareholder services?

How do I find my Primerica shareholder account number?

Primerica Shareholder Services Phone Number Related Searches

Trusted and secure by over 3 million people of the world’s leading companies