QUESTION
Can a shareholder be supended from the company?
Asked on Mar 15th, 2013 on Corporate Law - New York
More details to this question:
My husband is a shareholder for car service company and the new administration has personal problem with him and suspended him from working at the car service. Also he is barred for working any administration position for 10 years. I believe not shareholder or associate should be banned from his own business.
1 ANSWER
Michael Stolzar
It does not look like the suspension was as a shareholder, but as an employee which would be totally independent of his rights as a shareholder. Are there any written agreements among the shareholders or between your husband and the company? Such agreements might contain applicable provisions which could affect his rights. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Mar 15th, 2013 at 3:13 PM