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A Corporation May Sue a Director Owning More Than Ten

Question 43

Multiple Choice

A corporation may sue a director owning more than ten (10) percent of any class of corporate stock who makes a profit by selling any such stock:


A) if the sale is made more than six (6) months after the original purchase of the stock by the director.
B) only if the stock was originally acquired with fraudulent intent.
C) only if the stock was sold with fraudulent intent.
D) if the sale was made less than six (6) months after the original purchase of the stock by the director.

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