Easily Delete Value Choice from the Articles Of Incorporation

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How to Delete Value Choice from the Articles Of Incorporation

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How articles of incorporation may be amended?

Depending on the state in which the business is incorporated, unanimous agreement from all the shareholders may be required to change the articles of incorporation. Most states have changed this older, common law rule, and now only require a majority of shareholders to agree to change the articles of incorporation.

Can a minority shareholder refuse to sell?

Majority shareholders may not be able to sell the business without changes to the articles or drag along rights in a shareholder agreement, a minority shareholder could block your company sale. The solution is to include tag and drag along rights in the articles or the shareholders agreement.

Can you just remove a shareholder?

It is, of course, not possible to simply delete shares from a company. As such, removal of a shareholder requires a transfer of the shares they hold.

Can a minority shareholder be removed?

Removing a minority shareholder will be simplest if you have a well-drafted shareholders agreement. Such an agreement will usually stipulate that the majority shareholder can buy out the minority at a predetermined price, or at a price determined by a mechanism specified in the agreement.

What does it mean to amend articles of incorporation?

Articles of Amendment are filed when your business needs to add to, change or otherwise update the information you originally provided in your Articles of Incorporation or Articles of Organization.

How do you remove a director and minority shareholder?

If the shareholder is to be removed involuntarily, he must have violated the company by-laws or the shareholders agreement. A resolution for the removal has to be then drafted and presented to the Board of Directors (BODs). It must also be presented to a specific set of shareholders if the agreement mentions so.

How do you get rid of minority shareholders?

If the minority shareholder holds less than 25% shares, a vote can take place and so long as there is a 75% majority, the company can pass a special resolution to wind up the company. If the company is still solvent then you will need to start the members voluntary liquidation process.

How do I change my articles of incorporation in Washington state?

To make amendments to your Washington State Corporation, you must provide the completed Articles of Amendment form and provide them to the Secretary of State by mail, by fax or in person, along with the filing fee.

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Delete Value Choice from the Articles Of Incorporation