Florida Buy Sell or Stock Purchase Agreement Covering Common Stock in Closely Held Corporation with Option to Fund Purchase through Life Insurance

• Category: Contracts - Buy Sell - Stock Purchases
• State: Multi-State
• Control #: US-00455BG
• Format: Word; Rich Text

Description

This form is set up as a Buy Sell Agreement between the Corporation and a key shareholder. It applies in the case of the death, disability, retirement or offer of shareholder to sell the stock during his lifetime. A Florida Buy Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund Purchase through Life Insurance is a legal contract that outlines the terms and conditions for the sale or purchase of common stock in a closely held corporation located in Florida. This agreement is typically used by shareholders of the corporation to establish a mechanism for the future transfer of ownership in the event of certain triggering events such as death, disability, retirement, or voluntary departure of a shareholder. Keywords: 1. Florida: This refers to the jurisdiction in which the agreement is being executed and governed by Florida state law. 2. Buy Sell Agreement: This refers to a contractual agreement between shareholders, outlining the terms and conditions for the purchase or sale of shares in a closely held corporation. 3. Stock Purchase Agreement: This refers specifically to an agreement covering the purchase or sale of common stock, which represents ownership in a corporation. 4. Common Stock: This refers to the type of stock being bought or sold, which typically carries voting rights and a share in the corporation's profits and losses. 5. Closely Held Corporation: This refers to a corporation that has a limited number of shareholders, usually with a close relationship or involvement in the company's operations. 6. Option: This refers to a contractual right or choice offered to one party, in this case, the shareholders, to purchase life insurance to fund the purchase of shares in the event of a triggering event. 7. Funding Purchase through Life Insurance: This refers to using life insurance policies as a financial tool to provide the necessary funds for the purchase of shares from the deceased or departing shareholder. Different types of Florida Buy Sell or Stock Purchase Agreement Covering Common Stock in Closely Held Corporation with Option to Fund Purchase through Life Insurance may include variations based on the specific terms and conditions agreed upon by the shareholders. For example, there may be agreements that cover different triggering events or specify the valuation method to determine the price of the shares. Additionally, the agreement may vary based on the specifics of the life insurance policies chosen to fund the purchase, such as whole life or term policies. It is important for the parties involved to consult with a qualified attorney or legal professional who specializes in corporate law and buy-sell agreements to ensure that the agreement adequately addresses all relevant issues and complies with the applicable laws and regulations in Florida.

A Florida Buy Sell or Stock Purchase Agreement Covering Common Stock in a Closely Held Corporation with an Option to Fund Purchase through Life Insurance is a legal contract that outlines the terms and conditions for the sale or purchase of common stock in a closely held corporation located in Florida. This agreement is typically used by shareholders of the corporation to establish a mechanism for the future transfer of ownership in the event of certain triggering events such as death, disability, retirement, or voluntary departure of a shareholder. Keywords: 1. Florida: This refers to the jurisdiction in which the agreement is being executed and governed by Florida state law. 2. Buy Sell Agreement: This refers to a contractual agreement between shareholders, outlining the terms and conditions for the purchase or sale of shares in a closely held corporation. 3. Stock Purchase Agreement: This refers specifically to an agreement covering the purchase or sale of common stock, which represents ownership in a corporation. 4. Common Stock: This refers to the type of stock being bought or sold, which typically carries voting rights and a share in the corporation's profits and losses. 5. Closely Held Corporation: This refers to a corporation that has a limited number of shareholders, usually with a close relationship or involvement in the company's operations. 6. Option: This refers to a contractual right or choice offered to one party, in this case, the shareholders, to purchase life insurance to fund the purchase of shares in the event of a triggering event. 7. Funding Purchase through Life Insurance: This refers to using life insurance policies as a financial tool to provide the necessary funds for the purchase of shares from the deceased or departing shareholder. Different types of Florida Buy Sell or Stock Purchase Agreement Covering Common Stock in Closely Held Corporation with Option to Fund Purchase through Life Insurance may include variations based on the specific terms and conditions agreed upon by the shareholders. For example, there may be agreements that cover different triggering events or specify the valuation method to determine the price of the shares. Additionally, the agreement may vary based on the specifics of the life insurance policies chosen to fund the purchase, such as whole life or term policies. It is important for the parties involved to consult with a qualified attorney or legal professional who specializes in corporate law and buy-sell agreements to ensure that the agreement adequately addresses all relevant issues and complies with the applicable laws and regulations in Florida.