This a shareholders' agreement for a professional service corporation which has been managed over time by the two founding shareholders and is about to admit another shareholder. It addresses governance, income-sharing, indemnities, repayment of loans, disability, termination of the relationship, retirement, and all other issues commonly found in shareholders' agreements.
Virgin Islands Shareholders Agreement
State:
Multi-State
Control #:
US-L02035
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Virgin Islands Shareholders Agreement?
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FAQ
Understanding Authorized Share Capital Although all these terms are interrelated, they are not synonyms. Authorized share capital is the broadest term used to describe a company's capital. It comprises every single share of every category that the company could issue if it needed or wanted to.
A company which does not have share capital is a company limited by guarantee. The profits that are earned are again re invested.
All limited companies must issue at least one share. There is no maximum share capital, but all shareholders must pay the company the value of their shares. For example, if a shareholder owns 50 shares at £1 each, they would have to pay the company A£50.
Introduction.Step 1: Decide on the issues the agreement should cover.Step 2: Identify the interests of shareholders.Step 3: Identify shareholder value.Step 4: Identify who will make decisions - shareholders or directors.Step 5: Decide how voting power of shareholders should add up.Further information and documents.
Are there any restrictions on the minimum and maximum number of members? A company must have at least one shareholder, but otherwise there are no restrictions on the minimum and maximum number of shareholders.
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.
Is it a public document? Because a shareholders' agreement is essentially a private contract between the shareholders of a company, its contents are not to be made public unless required.
Most shareholders agreements will say how many shares each party owns and how much they've invested in the company. The agreement will typically outline who is to work in the company and on what terms, with all the shareholders usually entitled to be directors.
The normal authorised share capital of a BVI company is 50,000 shares with all of the shares having a par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency.
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...
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