The Inkilwas Corporation has 30,000 shares outstanding.A shareholders' meeting is duly called to amend the articles of incorporation,and 17,501 shares are represented at the meeting.According to the Revised Model Business Corporation Act (RMBCA),what is the minimum number of outstanding shares that must be represented in this case to have a quorum?

Question

Quizplus · Accepted Answer

According to the RMBCA, a quorum requires a majority of outstanding shares to be represented at the meeting. Therefore, the minimum number of outstanding shares that must be represented in this case to have a quorum would be (30,000/2) + 1 = 15,001 shares. Choice C is the only option that meets this requirement, as it represents 17,501 shares, which is greater than the quorum threshold of 15,001 shares.

The Inkilwas Corporation Has 30,000 Shares Outstanding