Can the corporation who owns the building make the decision to sell it?

Asked by Debbie, Almaden, San Jose, CA Sun Nov 4, 2007

or do the shareholders (co-op lessees) vote on it?

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3
., , L' Anse, MI
Sun Nov 4, 2007
BEST ANSWER
That would depend on the Articles of Incorporation and any agreements made at the inception of the Corporation. In some cases, it would be the Board of Directors that would make that decision. In larger Corporations, they could send it out to the shareholders for a vote.
1 vote
Pam Winterba…, Agent, Danville, VA
Sun Nov 4, 2007
Good question. I believe it is going to depend what the by-laws, articles and directors have to say or imput on the sale.
1 vote
ian cockburn, Agent, New Orleans, LA
Sun Nov 4, 2007
The Board of Directors who make up the decision-making of the Corporation can make the decision to sell, unless something in the bylaws is different from that.
Web Reference:  http://www.iansellsnola.com
1 vote
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