Middle River, MD asked in Business Law for Maryland

Q: I am president of the corp I am trying to revive. I can not get in touch with the sec or treasure. can I sign both line

or do I sign under paragraph B as lesser of a majority?

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1 Lawyer Answer
Mark Oakley
Mark Oakley
  • Rockville, MD
  • Licensed in Maryland

A: Who owns the company? If you are majority or sole owner, you can vote a new board of directors and install new officers, or if you are president and are not directly constrained by the by-laws or shareholders agreement from doing so you can fire the Vice President, Secretary and Treasurer or any other lesser office holder and appoint yourself to those offices. Alternatively, you could simply start a new company if everyone involved in the existing forfeited company has abandoned it and moved on. Depending on the situation, if the forfeited company has other owners, then reviving the company and investing in it may give those owners claims to the future value and control of the company should you build it into a successful venture. You need to consult with a lawyer about what your best strategy is going forward.

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