Wayne Michigan 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: Wayne
• 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. Wayne, Michigan Shareholders' Agreement with Buy-Sell Agreement Allowing Corporation the First Right of Refusal to Purchase the Shares of Deceased Shareholder: In Wayne, Michigan, a Shareholders' Agreement with a Buy-Sell Agreement is an important legal document that protects the interests of shareholders in a corporation. This agreement includes a provision that grants the corporation the first right of refusal to purchase the shares of a deceased shareholder if the beneficiaries of the deceased shareholder decide to sell them. The purpose of this agreement is to maintain the stability and control of the corporation by preventing shares from falling into the hands of unwanted or potentially disruptive parties. By giving the corporation the opportunity to purchase these shares, it ensures that ownership remains within the existing shareholder base. There are several types of Wayne, Michigan Shareholders' Agreements with Buy-Sell Agreements that allow the corporation the first right of refusal to purchase the shares of a deceased shareholder. These include: 1. Fixed Price Agreement: This type of agreement establishes a predetermined price at which the corporation can buy the shares of a deceased shareholder. The fixed price is often based on a pre-determined formula or valuation method to ensure fairness to both parties. 2. Formula Agreement: In a formula agreement, the purchase price of the shares is determined using a formula specified in the agreement. This formula may consider factors such as the corporation's financial performance, book value, or other relevant metrics. 3. Appraisal Agreement: In an appraisal agreement, an independent appraiser is engaged to determine the fair market value of the shares of the deceased shareholder. The corporation then has the option to purchase the shares at the appraised value. Regardless of the specific type of agreement, the main goal is to provide a mechanism for the corporation to purchase the shares of a deceased shareholder should the beneficiaries of the deceased shareholder desire to sell. This allows the corporation to maintain control and continuity within the existing shareholder base. It is important for shareholders in Wayne, Michigan to seek legal counsel when drafting a Shareholders' Agreement with a Buy-Sell Agreement. A knowledgeable attorney can provide guidance on the various types of agreements available and ensure that the agreement is tailored to the specific needs and circumstances of the corporation and its shareholders.

Wayne, Michigan Shareholders' Agreement with Buy-Sell Agreement Allowing Corporation the First Right of Refusal to Purchase the Shares of Deceased Shareholder: In Wayne, Michigan, a Shareholders' Agreement with a Buy-Sell Agreement is an important legal document that protects the interests of shareholders in a corporation. This agreement includes a provision that grants the corporation the first right of refusal to purchase the shares of a deceased shareholder if the beneficiaries of the deceased shareholder decide to sell them. The purpose of this agreement is to maintain the stability and control of the corporation by preventing shares from falling into the hands of unwanted or potentially disruptive parties. By giving the corporation the opportunity to purchase these shares, it ensures that ownership remains within the existing shareholder base. There are several types of Wayne, Michigan Shareholders' Agreements with Buy-Sell Agreements that allow the corporation the first right of refusal to purchase the shares of a deceased shareholder. These include: 1. Fixed Price Agreement: This type of agreement establishes a predetermined price at which the corporation can buy the shares of a deceased shareholder. The fixed price is often based on a pre-determined formula or valuation method to ensure fairness to both parties. 2. Formula Agreement: In a formula agreement, the purchase price of the shares is determined using a formula specified in the agreement. This formula may consider factors such as the corporation's financial performance, book value, or other relevant metrics. 3. Appraisal Agreement: In an appraisal agreement, an independent appraiser is engaged to determine the fair market value of the shares of the deceased shareholder. The corporation then has the option to purchase the shares at the appraised value. Regardless of the specific type of agreement, the main goal is to provide a mechanism for the corporation to purchase the shares of a deceased shareholder should the beneficiaries of the deceased shareholder desire to sell. This allows the corporation to maintain control and continuity within the existing shareholder base. It is important for shareholders in Wayne, Michigan to seek legal counsel when drafting a Shareholders' Agreement with a Buy-Sell Agreement. A knowledgeable attorney can provide guidance on the various types of agreements available and ensure that the agreement is tailored to the specific needs and circumstances of the corporation and its shareholders.

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.