Legal Question in Business Law in Georgia

Partnership and corporation question

I own 28% of stock in a corporation. I also own 40% of the real property and this is under a partnership. I have recently been allowed access to our books and have found several things that throw up red flags. such as money being deposited into personal accounts of the partner and his daughter and personal bills being paid out of the business account. please help I don't know where to turn for help or advice.


Asked on 11/13/06, 12:16 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Partnership and corporation question

The best place to start is a lawyer with experience in corporate litigation - preferably shareholder or partnership disputes. The corporate code is specific about the steps a shareholder or partner must take to remedy any problems, and if money and property are disappearing, immediate court action may be the only way to prevent more harm. Be prepared with all corporate documents (articles, by-laws, etc.). It is imperative that actions like shareholder or director votes be done strictly by the book.

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Answered on 11/13/06, 12:26 pm


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