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adding officer to corporation
Brooklyn, NY
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Posted 4 months ago in Corporate / Incorporation
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adding officer to corporation
i recently incorporated in the state of ny on my own i was to filer and the address is my personal addressi also got a federal ein# i got the corporate kit (i did not fill anything into it ) i Also opened a bank account. since we are a new company with no credit history. i was declined by a vendor. i want to add an officer to the corporation,so he will be able to submit his personal credit history. how is this done. do we have to file somwhere or just sign the minutes or have it notarized - Is this your question? Add additional information Answers (1)
Ronald Anthony Sarno
This attorney is licensed in New York and 1 other state.
Posted 4 months ago.
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Opening a company without legal guidance is not wise. You may find yourself with a dizzying number of tax rules and obligations. Not putting certain information in your corporate kit can subject you to tax exceptions and fines. Basically you need to decide how much a percentage of ownership and voting stock you want to give the new person. If you want him to be a private lender,you need to set up a Promissory Note with him.
If you want him to be a shareholder, then you need to decide how many shares and what their dollar worth is. Finally, you need an operating agreement, a buy sell agreement to maintain the fiscal integrity of your company. MY partner James DeFelice helps NYC businesses get started. His contact information can be found in his avvo profile. You might find my legal guide on selecting and hiring a lawyer helpful. You might find my legal guide on Is it Legal? Is it Illegal? helpful. You might find my legal guide on the understanding the different court systems helpful. You might find my legal guide on legal terms used in litigation helpful (Even if you are not filing a lawsuit this information can be useful). You might find my legal guide on commercial litigation helpful. l. You might find my legal guide on NY court systems helpful. LEGAL DISCLAIMER Mr. Sarno is licensed to practice law in NJ and NY. His response here is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Sarno strongly advises the questioner to confer with an attorney in their own state to acquire more information about this issue. |
