The dissolution of a corporation:
A)Can never be voluntary on the part of stockholders.
B)May be sought by the state for failure to pay specified taxes for a given number of years
C)Allows it to make contracts to carry on business for six months.
D)May require the stockholders to pay debts the corporation's assets cannot cover.

Question

Quizplus · Accepted Answer

The state can seek the dissolution of a corporation for reasons such as failure to pay taxes for a specified number of years, showcasing that corporations must adhere to legal and financial obligations to maintain their status.

The Dissolution of a Corporation