![]() A minority shareholder might just as well have no votes at all. Whoever controls the board controls the business. If you do not have shareholder agreements, the normal rule is that a majority of the voting shares can elect the board of directors, and the board of directors can do pretty much what they want with the management of the company. ![]() I don’t know where their separated spouse is.Whenever a private corporation has shareholders from more than one family (and sometimes even within the same family), shareholder agreements should be considered.Ī typical situation is where two or three individuals go into business together, and incorporate their business, with each one owning an equal or unequal number of shares of the corporation.
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