Legal Question in Business Law in Florida

Corporate Shareholder

Can a corporation purchase shares of a newly formed corporation or does it have to be an individual. In other words, a corporation wishes to set up another corporation with two other individuals. Is this possible?


Asked on 11/07/04, 11:00 pm

3 Answers from Attorneys
Moses Williams Moses E. Williams, Attorney at Law

Re: Corporate Shareholder

Yes. I suggest you consult with an attorney before filing the legal documents.

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Answered on 11/08/04, 10:06 am
Peter Papagianakis Business Law Firm LLC

Re: Corporate Shareholder

As my colleagues stated correctly, the short (and general) answer to your question is: Yes.

Please note, however, that there are circumstances in which a corporation is NOT allowed to own stock in another corporation.

You should consult with a business attorney and/or your tax advisor/accountant for more details.

Best regards,

Peter Papagianakis

Licensed in FL and NY

(917) 478-0570

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Answered on 11/08/04, 11:14 am
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Corporate Shareholder

yes.

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Answered on 11/08/04, 1:04 am


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