There are different ways that shareholders can customise the buy and sell provisions for shares in their contract. As such, these terms will vary depending on the nature of your business and the needs of your members. LawDepot’s Shareholder Agreement template provides options such as:
Requiring shareholders to buy more shares when the corporation needs funds
Prohibiting shareholders from selling shares
Giving shareholders the option to buy the shares of another shareholder that dies or becomes incapacitated
Including a shotgun clause, right of first refusal clause, or tag-along clause (read more about these clauses in our questionnaire)