Cuyahoga Ohio Acuerdo de Accionistas con Acuerdo de Compra-Venta que Otorga a la Corporación el Primer Derecho de Negarse a Comprar las Acciones del Accionista Fallecido si los Beneficiarios del Accionista Fallecido Desean Vender dichas Acciones - 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: Sociedades Anónimas - Acciones - Acuerdos Restrictivos - Alabama
• State: Multi-State
• County: Cuyahoga
• Control #: US-02629BG
• Format: Word

Description

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. The Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement is a legal document that outlines the rights and obligations of shareholders in a corporation, specifically addressing the situation when a shareholder passes away and the beneficiaries of the deceased shareholder's estate wish to sell their shares. This agreement includes a provision that grants the corporation the first right of refusal to purchase the shares of the deceased shareholder before they can be sold to any other party. This type of agreement provides several benefits and safeguards for both the corporation and its shareholders. By giving the corporation the first right of refusal, it allows the company to maintain control and stability by preventing outsiders from acquiring significant ownership stakes without the corporation's consent. Additionally, it provides a mechanism for the corporation to maintain a fair valuation of its shares by offering to buy them at market value. There might be different variations or types of the Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement depending on the specific requirements and circumstances of the corporation. These variations could include: 1. Standard Buy-Sell Agreement: This type of agreement outlines the general rights and obligations of shareholders when it comes to the sale and transfer of shares. It includes provisions regarding the first right of refusal for the corporation in the event of a shareholder's death. 2. Cross-Purchase Buy-Sell Agreement: In this type of agreement, the remaining shareholders have the right to purchase the shares of a deceased shareholder in proportion to their existing ownership percentages. This arrangement allows the surviving shareholders to increase their ownership stake in the company. 3. Entity-Purchase Buy-Sell Agreement: In this variation, the corporation itself has the right and obligation to purchase the shares of a deceased shareholder. The corporation can then redistribute or retire the shares as needed, without affecting the ownership percentages of the other shareholders. Overall, the Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement Allowing Corporation the First Right of Refusal aims to ensure a smooth transition in the event of a shareholder's death and protect the corporation and its shareholders' interests. It establishes clear guidelines for the sale and valuation of shares, offering transparency and stability to all parties involved.

The Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement is a legal document that outlines the rights and obligations of shareholders in a corporation, specifically addressing the situation when a shareholder passes away and the beneficiaries of the deceased shareholder's estate wish to sell their shares. This agreement includes a provision that grants the corporation the first right of refusal to purchase the shares of the deceased shareholder before they can be sold to any other party. This type of agreement provides several benefits and safeguards for both the corporation and its shareholders. By giving the corporation the first right of refusal, it allows the company to maintain control and stability by preventing outsiders from acquiring significant ownership stakes without the corporation's consent. Additionally, it provides a mechanism for the corporation to maintain a fair valuation of its shares by offering to buy them at market value. There might be different variations or types of the Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement depending on the specific requirements and circumstances of the corporation. These variations could include: 1. Standard Buy-Sell Agreement: This type of agreement outlines the general rights and obligations of shareholders when it comes to the sale and transfer of shares. It includes provisions regarding the first right of refusal for the corporation in the event of a shareholder's death. 2. Cross-Purchase Buy-Sell Agreement: In this type of agreement, the remaining shareholders have the right to purchase the shares of a deceased shareholder in proportion to their existing ownership percentages. This arrangement allows the surviving shareholders to increase their ownership stake in the company. 3. Entity-Purchase Buy-Sell Agreement: In this variation, the corporation itself has the right and obligation to purchase the shares of a deceased shareholder. The corporation can then redistribute or retire the shares as needed, without affecting the ownership percentages of the other shareholders. Overall, the Cuyahoga Ohio Shareholders' Agreement with Buy-Sell Agreement Allowing Corporation the First Right of Refusal aims to ensure a smooth transition in the event of a shareholder's death and protect the corporation and its shareholders' interests. It establishes clear guidelines for the sale and valuation of shares, offering transparency and stability to all parties involved.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.