A corporation will be dissolved upon the death or insolvency of a shareholder.

Name: A corporation will be dissolved upon the death or insolvency of a shareholder.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A corporation is a separate legal entity from its shareholders, and its existence is not dependent on the life or financial status of any individual shareholder. While the death or insolvency of a shareholder may affect the ownership and control of the corporation, it would not automatically result in the dissolution of the corporation.

A Corporation Will Be Dissolved Upon the Death or Insolvency