Newark, NJ asked in Banking, Business Formation, Business Law and Contracts for New Jersey

Q: What documents need to be signed when adding a new Shareholder into a S corporation in New Jersey?

For Example, Currently:

Shareholder 1 owns 51% - President

Shareholder 2 owners 49% - Vice President

The New breakdown will be

Shareholder 1 owns 51% - President

Shareholder 2 owns 24.5% - Vice President

Shareholder 3 owns - 24.5% - Treasurer

We re signing a shareholder agreement. What else needs to be signed?

1 Lawyer Answer
Morris Leo Greb
Morris Leo Greb
  • Business Law Lawyer
  • Rockaway, NJ
  • Licensed in New Jersey

A: The corporate record book should be updated and kept current showing shareholders' interest, number of share held, transfer information, purchases, and dates of such activity.

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