can a trustee use sahres of trust to second a motion?

[Guest Jim Yanero]

I am a shareholder and trustee for two trusts in a sub chapter s corporation that is owned 50% each by two families.

There is considerable friction at this point and we are going to try to hold a stockholder's meeting to iron out some differences.

My family's 50% is owned in equal 16-2/3% shares by myself and two cousins who will not have the shares transferred into their names until each turns 30 years old. The other family's shares are owned 25% by the mother and 12-1/2% each by her two sons.

At this stockholder's meeting, if I make a motion, who can second it if the three members of the other family will not? my two cousins have been invited to the meeting. I understand that I have the right to vote their shares, but on matters of plurality and seconding any of my motions, what options do I have?

[Gary Novosielski]

I am a shareholder and trustee for two trusts in a sub chapter s corporation that is owned 50% each by two families.

There is considerable friction at this point and we are going to try to hold a stockholder's meeting to iron out some differences.

My family's 50% is owned in equal 16-2/3% shares by myself and two cousins who will not have the shares transferred into their names until each turns 30 years old. The other family's shares are owned 25% by the mother and 12-1/2% each by her two sons.

At this stockholder's meeting, if I make a motion, who can second it if the three members of the other family will not? my two cousins have been invited to the meeting. I understand that I have the right to vote their shares, but on matters of plurality and seconding any of my motions, what options do I have?

The rules in RONR apply to the normal one-person-one vote situation, and not to shares and proxies, which it calls inherently undemocratic.

[Tim Wynn]

I am a shareholder and trustee for two trusts in a sub chapter s corporation that is owned 50% each by two families.

There is considerable friction at this point and we are going to try to hold a stockholder's meeting to iron out some differences.

My family's 50% is owned in equal 16-2/3% shares by myself and two cousins who will not have the shares transferred into their names until each turns 30 years old. The other family's shares are owned 25% by the mother and 12-1/2% each by her two sons.

At this stockholder's meeting, if I make a motion, who can second it if the three members of the other family will not? my two cousins have been invited to the meeting. I understand that I have the right to vote their shares, but on matters of plurality and seconding any of my motions, what options do I have?

Corporate laws of the state would probably factor heavily into this, so an attorney should be consulted. From a parliamentary stand point, unfortunately, your questions are very specific to your situation, and I don't think you'll get the information you want from the general answers provided on this forum.

As far as procedure in RONR goes, if you can't get anyone to side with you enough to second your motion, you don't really stand much of a chance of getting it adopted.

A meeting is not a good place to iron out differences, since a meeting is a formal procedure for transacting business. I would recommend an informal approach to lightening the tension before you get down to business.

[Guest Jim Yanero]

Corporate laws of the state would probably factor heavily into this, so an attorney should be consulted. From a parliamentary stand point, unfortunately, your questions are very specific to your situation, and I don't think you'll get the information you want from the general answers provided on this forum.

As far as procedure in RONR goes, if you can't get anyone to side with you enough to second your motion, you don't really stand much of a chance of getting it adopted.

A meeting is not a good place to iron out differences, since a meeting is a formal procedure for transacting business. I would recommend an informal approach to lightening the tension before you get down to business.

[Guest Jim Yanero]

Thanks Tim

This is good advice.

Jim

[Tim Wynn]

Thanks Tim

This is good advice.

Jim

You're welcome, Jim.