Mr. smith, ms. white, mr. jones and mrs. reyes are all partners in a new bank. based on the funds that each partner contributed to creating the bank, the following ownership percentages were calculated, respectively: 8%, 31%, 23%, 10%. what is a potential issue with the partner contributions?
mr. smith must contribute an additional 2% to bring his ownership up to the minimum of 10%.
ms. white plus mr. jones results in over 50% ownership and more than 3 shareholders must make up majority ownership.
ms. white is out of compliance at 31%.
there is no issue as no one shareholder has majority ownership of the bank.