Legal Question in Business Law in Pennsylvania

Dissolving a corporation

I am currently the Secretary and Treasurer of a small construction corp. in Pennsylvania. My partner is the President. I want to sign my half of the buisness to my partner and go my own way due to a number of factors.the company has been struggling for some time and I don't see an improvment for sometime. the company has several open accounts as well as some tax issues. My partner has stated that he (the company)will assume all of this upon completion of this process. The buisness is not worth much so I would be happy to just sign it over to him. My first question is, What can I expect during the process to dissolve the corp? Also, what should I do to protect my interests when the corp. has been dissolved


Asked on 11/26/07, 1:36 pm

1 Answer from Attorneys
Michael Kuldiner Law Offices of Michael Kuldiner, P.C.

Re: Dissolving a corporation

you should sign an agreement which relinquishes your liability and sells off your shares to the remaining shareholder. If the other party wants to continue they dont have to dissolve the corporation. It is called a stock purchase agreement. Call my office if you have any other questions.

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Answered on 11/26/07, 9:24 pm


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