Which of the following is NOT a basis for involuntary dissolution?
A) A proceeding initiated by the secretary of state, if it is established that the corporation failed to pay its franchise tax.
B) The shareholders dissent to a merger and are asserting their appraisal rights.
C) The directors are deadlocked and the shareholders cannot break the deadlock.
D) None of these.
Correct Answer:
Verified
Q45: Which of the following statements about corporate
Q46: Appraisal rights:
A) always give all shareholders the
Q47: A short-form merger:
A) requires shareholder approval.
B) allows
Q48: The right of dissent results in payment
Q49: Generally, the secretary of state may commence
Q51: Which of the following is untrue about
Q52: To eliminate minority interests, which of the
Q53: If a company owns 90 percent or
Q54: The Revised Act grants dissenters' rights:
A) to
Q55: If Elliot, a shareholder who dissents to
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