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Lv 4
... asked in Business & FinanceSmall Business · 1 decade ago

How do I get a quorum for a 50/50 corporation when the other half won't respond?

This can't be the first time something like this has happened...surely there is some general provion for this? It is a california corp and I want to keep it for financial reasons - I want to make a capital call to bring the corp back to solvent, but the other guy won't have the money...I would like to buy him out in exchange for paying his capital call - BUT I can't get him to respond to any form of Notice of Special Meeting. And, of course, it is a 50/50 corp with no provisions in the by-laws for this situation.

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  • 1 decade ago
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    Do the bylaws specify exactly what has to happen for "notice" to be served? i.e. registered mail or whatever? As long as you do that, can you get him for non-response of some kind?

    If not, time to call the lawyer who did the bylaws and ask him.

    Sorry,

    Scott

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