How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Rakhi Vasavada Your Own Question

Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4499
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
43581946
Type Your Finance Question Here...
Rakhi Vasavada is online now

I am not on the company bank account but I am a 50% share

Resolved Question:

I am not on the company bank account but I am a 50% share holder and I know I don't have rights to the bank but However, being 50% shareholder, I am legally entitled to receive ALL of the official dividends, profit sharing, etc. But on bank, i will have no control over it even if you have the rights as a 50% shareholder.
So if he cleared the bank or paid debts off but any money left he moved to other account what rights do I have ?
Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello and welcome again. Thank you for providing an opportunity to assist you.

From what I understand from your situation, such situation typically arises if you have difference of opinions, OR if you are not on good terms with your business partner.

Having said this, you will need to take a legal recourse.If you feel that the directors may payoff debts without your consent, it may amount of breach of trust by those directors of their fiduciery duties.

In capacity of a share holder, you may not have direct rights over the bank account but you can certainly catch hold of the directors in the above mentioned way.

Further to this, I would advice you to consult a local attorney with Articles of your company which usually details the rights and obligations of a director, operating of bank accounts, number of signatories, etc.

This would give some definite clue as to what directions you should take.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4499
Experience: Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
Rakhi Vasavada and other Finance Specialists are ready to help you

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
< Previous | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
 
 
 

Meet The Experts:

 
 
 
  • Rakhi Vasavada

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1798
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
< Previous | Next >
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1798
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
  • http://ww2.justanswer.com/uploads/BL/blueflowers1063/2013-10-10_35834_KimHolidays1.64x64.jpg Kim D.'s Avatar

    Kim D.

    Consultant

    Satisfied Customers:

    27
    Researcher 20+yrs in small and large institutions
  • http://ww2.justanswer.com/uploads/NU/nursescare4u/2013-3-31_03429_JApic.64x64.jpg findinganswers's Avatar

    findinganswers

    Internet Researcher

    Satisfied Customers:

    22
    Internet Researcher, Nurse for over 17 years, and can find answers for you!
  • http://ww2.justanswer.com/uploads/PR/ProMBA/2012-6-7_154051_beach.64x64.jpg ProMBA's Avatar

    ProMBA

    Internet Researcher

    Satisfied Customers:

    3
    I'm an owner of three businesses, with both undergraduate and graduate business degrees from top tier universities.
 
 
 

Related Finance Questions