Rhode Island Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation

State:
Multi-State
Control #:
US-1085BG
Format:
Word; 
Rich Text
Instant download

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. A shareholders' agreement may contain provisions relating to any phase of the affairs of a close corporation. Statutes often provide that the agreement may, as between the parties to the agreement, alter or waive the provisions of the general corporation law except those provisions that are specifically exempt from such alteration or waiver. A shareholders' agreement may not be altered or terminated except as provided by the agreement, or by all the parties, or by operation of law.
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  • Preview Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation
  • Preview Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation
  • Preview Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation
  • Preview Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation

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FAQ

A shareholders' agreement is a legally binding contract that outlines the regulations used to run a corporation. This agreement, also called a stockholders' agreement or SHA, is used to protect the interests of each individual shareholder and establish a fair relationship within the company.

The main things to consider including in a shareholders' agreement are:The nature of the company and its purpose.The process for appointing a director.How decisions about the company will be made.How disputes will be resolved.The shareholders' rights to information.How shares will be distributed and sold.More items...?

The main things to consider including in a shareholders' agreement are: The nature of the company and its purpose. The process for appointing a director. How decisions about the company will be made.

The MOI automatically binds new shareholders without their explicit agreement, while a Shareholders Agreement needs to be agreed to before being binding.

A Shareholders Agreement is a contract concluded between shareholders to a company that formalizes the relationship and governs the duties and responsibilities between all stakeholders to the company.

A shareholder agreement, on the other hand, is optional. This document is often by and for shareholders, outlining certain rights and obligations. It can be most helpful when a corporation has a small number of active shareholders.

Having a shareholders' agreement is a cost effective way of minimizing any issues which may arise later on by making it clear how certain matters will be dealt with and by providing a forum for dispute resolution should an issue arise down the road.

A shareholders agreement provides transparency and certainty in relation to the rights and responsibilities of the company, its shareholders and its directors, which can lead to a more efficiently and effectively managed company, reducing the potential for disputes to arise.

What to Think about When You Begin Writing a Shareholder Agreement.Name Your Shareholders.Specify the Responsibilities of Shareholders.The Voting Rights of Your Shareholders.Decisions Your Corporation Might Face.Changing the Original Shareholder Agreement.Determine How Stock can be Sold or Transferred.More items...

A shareholder agreement, on the other hand, is optional. This document is often by and for shareholders, outlining certain rights and obligations. It can be most helpful when a corporation has a small number of active shareholders.

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Rhode Island Shareholders' Agreement with Special Allocation of Dividends among Shareholders in a Close Corporation