Utah Shareholders' Buy-Sell Agreement - Cross-Purchase Agreement
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Description
This form is a cross-purchase agreement among shareholders of a close corporation. It is a purchase by surviving shareholders of interest of withdrawing or deceased shareholder. If other shareholders do not exercise the option, then the Corporation has the option. The buy and sell agreement requires that the business share is sold according to a predetermined formula to the company or the remaining members of the business. Before the interest of a deceased partner can be sold to the company or remaining partners, the deceased's estate must agree to sell.
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