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Kennedy Sutherland’s attorneys are highly skilled and have extensive experience in helping banks and their owners take advantage of Subchapter S elections in order to achieve maximum profitability and management efficiency. Managing Partner, Patrick Kennedy, Jr., helped promote federal legislation allowing Subchapter S elections by banks and thrifts in 1997 and currently serves as President to the Subchapter S Bank Association. With this wealth of knowledge the firm is able to routinely serve as counsel in corporate restructurings to facilitate a Subchapter S election. In the past decade, our attorneys have handled a significant number of the bank conversions to S Corporation status nationwide. The firm has provided strategic guidance on the following issues involved in any conversion decision:

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  • Shareholder numbers
  • Impact on officers, directors and employees and their stock options
  • Cost
  • Impact on capital and dividend policies
  • Impact on cashed-out shareholders, including customers and local residents
  • Impact on future transactions and the ability to raise capital
  • Potential corporate, securities, and regulatory issues
  • Impact on next generation shareholders
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The firm also assists its Sub S clients in structuring shareholder agreements and other specific shareholder qualification issues, including analyzing trust agreements and other unique Subchapter S shareholder arrangements. We have also assisted our clients in resolving inadvertent termination occurrences by obtaining private letter rulings from the IRS.

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Have any questions? Send our team an email and we'll get back to you as soon as posible. *Warning: Do not send or include any information in any email generated through this web site if you consider the information confidential or privileged. By submitting information by email or other communication in response to this web site, you agree that the communication does not create a lawyer-client relationship between you and the law firm and its lawyers and that any information submitted is not confidential and is not privileged. You further acknowledge that, unless the law firm subsequently enters into a lawyer-client relationship with you, any information you provide will not be treated as confidential and any such information may be used adversely to you and for the benefit of current or future clients of the law firm.

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