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2007-03-31 01:12:51
2007-03-31 01:12:51

Corporate ownership (other than a non-profit) is represented by shares of stock. If you own shares, you may sell your "part of the corporation," provided it does not violate any agreement you may have with the other shareholders (including the articles and bylaws), or any fiduciary duty you may have to them (if it is a small number of shareholders). If it is a publicly held corporation, ask a securities attorney for help with any significant (reportable) sale, or if you are an insider. If the "part of the corporation" you refer to means "a subsidiary" or some capital assets of the corporation, then all of the proceeds of such a sale must go to the corporate treasury. Another answer stated that, "well if you sell the stock that you own then the money belong to you, but if the stock belongs to the corp than the money belongs to the corparation, however if your diong this to make personal money and are on the board or exec you can give you self a "bonus" for all your hard work. the bonus will be taxed as personel income so be careful"

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