If you open an S Corp with a partner, one being president and the other being vice president, what happens if you don’t do business well together and will the president have final say?
Lynn,
I’ll assume the corporation in question does not have a board. Generally speaking, because s-corps do not have classes of shares, the power of a shareholder is simply measured by the percentage of shares they own, unless the by-laws define what it means to be a president or vice president. If the bylaws do not define the roles then the titles of president and vice president are just honorary in nature.
If a company is managed by a board then the board could intervene. Though I rarely come across s-corps with boards.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
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