Legal Question in Business Law in Texas
scorp release
I'm currently trying to leave a company I helped start. It is a S corp and I'm listed as the president. I've filed a resignation of resistered agent with the secretary of state and there are no debts owed. Is there another legal document and or documents I can use to release myself from this company?
2 Answers from Attorneys
Re: scorp release
Send a letter of resignation for your position or positions with the corporation. See how you can divest yourself of the shares you hold in the corporation.
Consult with legal counsel as to other ramifications in parting company with the S corp.
Re: scorp release
What about your shares in the company and the people and companies and banks that need to know you are no longer associated with it? You should consult an attorney who can advise you on this. If you don't do it correctly, you can end up in bankruptcy for the company's debts if it can't or won't pay them.
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