In many states,dissolution that is nonjudicial may be brought about when:
A) all the shareholders agree to dissolve,even without action by the board.
B) the board of directors agrees to dissolve.
C) the creditors petition the court.
D) the business of the corporation becomes obsolete.

Question

Quizplus · Accepted Answer

Nonjudicial dissolution can occur when all the shareholders agree to the dissolution, even without action by the board. This means that the shareholders can initiate and complete the dissolution process without having to go through the court system. Options B, C, and D do not accurately describe nonjudicial dissolution processes.

In Many States,dissolution That Is Nonjudicial May Be Brought About