Legal Question in Business Law in Florida
Is there a generic form for dealing with what to do when a shareholder/officer of the corporation is incapacitated?
Asked on 1/25/12, 7:06 am
2 Answers from Attorneys
Not sure what you mean by generic form, but I do not believe so.
If the person has been declared incapacitated by a court then he most likely couldn't continue in the job. The shareholders elect the Board of Directors (with the incapacitated shareholder's guardian having the right to vote those shares), and the Board elects its Officers.
Hope this helps.
Answered on 1/25/12, 7:19 am
Philip Duvalsaint
Philip A. Duvalsaint, PLLC
If there is a shareholder's trust agreement or a shareholder's agreement, it should explain what to do.
Answered on 1/25/12, 10:03 am
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