Results 1 to 2 of 2
  1. #1
    Join Date
    May 2012

    Default Removing an Offier from a Small Corporation in Anticipation of Divorce

    My question involves a marriage in the state of: California

    If an small family S Corp set up manage a piece of property and having with 3 officers. President, Secretary and Assistant Secretary/Treasurer. President and Assistant Secretary/Treasurer were married and now in process of divorce. There are 2 stockholders, each have an equal 1/3 share. 2 of the stockholders are corporate officers (President and Secretary) and the other officer (Assistant Secretary/treasurer) has no interest other than corporate officer with no voting rights. Yearly Corporate minutes were done, a quorum (majority) was present (President and Secretary) and it was voted that the Assistant Secretary/Treasurer be removed and that the President be elected to the secondary office of Secretary. The Corp Minutes were herd January 15 and the Assistant Secretary/Treasurer filed for divorce from the President on January 20. The Assistant Secretary/Treasurer was not notified of the meeting as there was no communication between the parties involved. The question is, is it legal to have removed the Assistant Secretary/Treasurer? If not, what would have made this legal?

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Removing an Offier from a Small Corporation in Anticipation of Divorce

    Under California law it's permissible for a corporation to have only one shareholder and only one director - if there is one director he would hold all standard officer positions: President, CFO/Treasurer and Secretary.

    As for whether that's consistent with the corporation's bylaws, or what they require, I can't say.

    1. Sponsored Links

Similar Threads

  1. Small Claims Judgment Against an Insolvent Corporation
    By groundfx in forum Civil Procedure
    Replies: 3
    Last Post: 03-08-2010, 04:08 PM
  2. Replies: 1
    Last Post: 09-19-2009, 07:46 PM
  3. Replies: 7
    Last Post: 04-10-2007, 09:14 AM
  4. Payment of Debts in Anticipation of Marriage
    By ebesz689 in forum Marriage, Cohabitation and Civil Unions
    Replies: 1
    Last Post: 03-08-2006, 05:10 AM
  5. Credit Reports: Removing a Small Claims Judgment
    By joarif in forum Personal Finance And Investment Law
    Replies: 1
    Last Post: 12-11-2005, 11:04 AM
Sponsored Links

Legal Help, Information and Resources

Forum Sponsor
Legal Forms - Buy easy-to-use legal forms.