Kelly transfers shares of stock that she owns in Laundry Management Company to Max. A shareholders' meeting takes place before Max's ownership is entered in Laundry's stock book. A vote at the meeting can be cast by

Question

Quizplus · Accepted Answer

Since Max's ownership has not yet been entered in Laundry's stock book, he is not yet considered a shareholder and therefore cannot vote at the meeting. Kelly, as the current shareholder, is the only one who can vote.

Kelly Transfers Shares of Stock That She Owns in Laundry