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Can a company director sell the company without consent of other directors?
Wiki User
∙ 9y ago
yes with approval of gerneral body by majority
Added: He cannot sell the entire company, however - he can sell his CONTROLLING INTEREST in the company. If anyone wishes to purchase his controlling interest then they would be buying it subject to the fact that the remaining 10% of stock was held by someone else. The minority shareholder would then simply become the minority shareholder of the new owner.
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoTypically, no. But it would depend on the laws of the state, the type of company, and the specific by- laws.
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