Legal Question in Securities Law in New York
authorization of shares to founders
Is a board of directors resolution awarding x shares to Founder X sufficient to convey the shares?
Asked on 10/29/08, 2:29 pm
1 Answer from Attorneys
Warren Markowitz
Warren R. Markowitz, Esq
Re: authorization of shares to founders
It depends on the authority of the Board of Directors as laid out in the Corporate Documents.
Are the shares being awarded in place of compensation, for performance, as part of a contract, or as a gift? The why is as important as the can they.
Additional information is necessary to fully answer the question. A copy of the board resolution, the Corporate By-Laws, employment contract, etc.
You may contact me via email, or telephone if there are additional questions.
Answered on 10/29/08, 2:33 pm
Related Questions & Answers
-
SPAC targeting a different industry Is a SPAC able to target a company for a... Asked 8/18/08, 9:35 am in United States New York Securities Law
-
Mortgage Note Business I've interested in soliciting a discounted payoff to... Asked 5/16/08, 9:48 am in United States New York Securities Law
-
Negotiable instruments Does the law prohibit a private person from issueing a... Asked 5/13/08, 8:49 am in United States New York Securities Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
