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1. BUYOUT EFFECTIVE WHEN
- Retirement
- Death or Disability
- Insolvency ( includes BK, attachment, lien, charging order, assignment for
benefit of creditors, divorce ( unless spouse has disclaimed)
2. LIMITS ON TRANSFERABILITY
- Estate or Trust of Shareholder or Ptr.
- Family
- Only the Corp or Shareholders
3. PRICE
- By appraisal
- By agreement
- By book values
4. TERMS
- Cash
- Note
- Installments - when and how much
- Assumption of Corporate Liabilities
5. WHO IS THE BUYER
- The Corporation or P/S
- Shareholders or partners
- Right of first refusal
- 1st to corp, then to S/H
- 1st to S/H, then to Corp.
6. FUNDING THE PURCHASE
- Insurance, owned by Corp, on life of S/H or partner
- Proceeds of business
7. OPTION OF BUSINESS TO SELL, AND PAY DECEASED’S INTEREST
[LLC Formation] [Corporation Formation] [Partnership Formation] [Business Buy-out]
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