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Shareholders Buy Sell Agreement of Stock in a Close Corporation with Agreement of Spouse and Stock Transfer Restrictions  Form

Shareholders Buy Sell Agreement of Stock in a Close Corporation with Agreement of Spouse and Stock Transfer Restrictions Form

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the following BL TV program is brought to you by O'Flaherty law please enjoy today we're stopped transfer restrictions for Illinois LLC's and closely held corporations so a stock transfer restriction is when owners of a company have limitations on how and when and to whom they can transfer their stock these makes sense when it's a small group of owners who want control over who they will be partnering with in the future you want to basically minimize your financial risk and often in a closely held corporation or LLC it's people who already know like and trust each other and that's why they choose to go into business with one another and they don't want to be surprised by one of the owners selling stock to a third party and now they're in business with someone they don't know so that's why you have stock transfer restrictions there's a couple different flavors first is a requirement that the board or

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