Legal Question in Wills and Trusts in Wisconsin
compel share redemption
Can an atty., acting for the beneficiary of a deceased minority shareholder, force the monitary redemption of the deceased's shares from a small closely held family corporation in Wisconsin?
Asked on 10/04/05, 10:24 pm
1 Answer from Attorneys
Thomas Schober
Schober Schober & Mitchell, S.C.
Re: compel share redemption
A shareholder, without some written shareholder agreement or some bylaw or article allowing for redemption on demand, generally has no right to have shares redeemed. There is one thing that is unusual about your situation: you indicate a minor has the shares. How did the minor get the shares. Generally, a minor can't hold shares. The answer to that question may raise other issues.
Answered on 10/05/05, 1:10 pm
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