In which of the following situations may a nonjudicial dissolution of a corporation occur?

Question

Quizplus · Accepted Answer

A nonjudicial dissolution may occur in all of the stated ways: by shareholders of a close corporation who elect in the articles of incorporation to have the power to dissolve the corporation, by expiration of the time period provided in the articles of incorporation, or by voluntary action on the part of all of the holders of outstanding stock. Therefore, options A, B, and C are all correct. Option E is incorrect because judicial dissolution is only one of the ways in which a corporation may be dissolved, and not the only way.

In Which of the Following Situations May a Nonjudicial Dissolution