Question
All the following provisions are usually included in an insured stock cross-purchase buy-sell agreement EXCEPT: A. A provision giving each surviving stockholder an option to
All the following provisions are usually included in an insured stock cross-purchase buy-sell agreement EXCEPT:
A. A provision giving each surviving stockholder an option to buy a proportionate part of a deceaseds stock.
B.A provision establishing the purchase price to be paid for the stock of a deceased stockholder.
C. A provision committing each stockholder to buy and maintain life insurance on the other stockholders.
D. A provision permitting each surviving stockholder to buy from the estate of a deceased stockholder the life insurance the deceaseds estate owns on the life of each surviving stockholder.
Can you provide a detailed explanation for your answer? Please only answer if you have a strong background in estate planning.
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