Required age to be the shareholder of a Delaware corporation?

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Required age to be the shareholder of a Delaware corporation?

Hi,I asked my business incorporator and I even talked to Delaware state department, but they don’t know the minimum or required age to be a shareholder of a company. I know that the incorporator must be at least 21 years old, and the director has NO age requirement. But what about the shareholder? Is there an age requirement to be a Delaware company shareholder?

Asked on June 4, 2009 under Business Law, North Dakota

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I'm not a Delaware attorney, and I haven't researched this indendently.  But if neither your incorporator nor the Delaware state department had an answer, there probably isn't one.

Shares of stock are property.  They are personal property (anything other than real estate is personal property), and can legally be owned by any adult, starting at age 18.  There might be some limitations on minors.

For advice you can rely on, you should talk to an attorney who is familiar with Delaware corporations and with the laws in the state where the under-21 stockholder-to-be is living.  One place to find a qualified lawyer is our website, http://attorneypages.com


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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