Assuming There Is No Agreement on the Issue,in Order to Transfer

Assuming there is no agreement on the issue,in order to transfer shares owned by a shareholder,the shareholder must obtain approval of:

A) the board of directors, regardless of whether the transfer is made by sale or gift.
B) the board of directors if the transfer is by sale, but if the transfer is to be made by gift, no approval is required.
C) the other shareholders, regardless of whether the transfer is made by sale or gift.
D) the other shareholders, but only if the shareholder is selling more than fifty percent of his or her outstanding shares.
E) neither the board of directors, nor the other shareholders.