51/49 Ownership Of California S Corp

[Odran]

Our issue entails company regulation within the state-of: California<br />
Hi- I've 51% possession of S Corp and we're striking some money decreases. I don't understand when the company are able to afford the present income of the the 49% holder. What privileges do I've under CA regulation like a majority seller? May I get him off the panel and/or reduce his income? Thanks ahead of time for that assistance.

[Ordland]

I am unable to review your bylaws and other contracts you may have with the other owner. I suggest that you run them past your business lawyer.