Pierce Atwood Business Counselor Q3 2012
Pierce Atwood Business Counselor is a quarterly publication covering current developments and issues of interest in the business community. For more information about the topics covered in this edition of the Pierce Atwood Business Counselor, please contact the article’s author or a member of our Business Practice Group.
High Demand, and Significant Opportunity, for New Markets Tax Credit Financing in Maine
The federal new markets tax credit program has provided low-cost financing to businesses located in low-income communities since 2001. Last year, in an effort to replicate that success in Maine, the Legislature created the Maine New Markets Capital Investment Program, which can provide up to $250 million of qualifying investment in Maine. In this article, Pierce Atwood’s Kris Eimicke describes the program and highlights the benefits to borrowers.
Shareholder Agreements—A lot More than Just “Housekeeping”
Frequently we encounter corporations that do not have a Shareholder Agreement in place, which can create major problems for owners of a corporation. The absence of a Shareholder Agreement can, for example, cause problems when a shareholder dies, becomes disabled, quits and then tries to compete, or has a “falling out” with the other shareholders and an “economic divorce” is needed. Unfortunately, when one of these all-too-common events occur, it’s often too late to solve the problem without contentiousness, sometimes including law suits. This article outlines how a Shareholder Agreement can protect you and your business, and why having a Shareholder Agreement in place is a lot more than good “housekeeping.”