The Revised Act explicitly requires a corporations's charter to authorize:
A) one or more classes of shares that have limited voting rights.
B) one or more classes of shares that together are entitled to receive the net assets of the corporation upon dissolution.
C) Both are correct.
D) nothing. The Revised Act only recommends, not requires, the charter contents.

Question

Quizplus · Accepted Answer

The Revised Act requires that a corporation's charter must authorize one or more classes of shares that are entitled to receive the net assets of the corporation upon dissolution.

The Revised Act Explicitly Requires a Corporations's Charter to Authorize