Under the Model Business Corporation Act,a corporation's existence begins:
A) only after the promoters substantially comply with each of the mandatory conditions precedent to incorporation and hold an organization meeting.
B) only after the articles of incorporation are filed with the secretary of state.
C) when the secretary of state returns to the corporation a copy of the articles stamped "Filed."
D) when the shareholders approve of all the changes in the articles.
Correct Answer:
Verified
Q17: Mandatory dividend provisions enacted in corporate laws
Q18: Corporations are generally liable on preincorporation contracts
Q19: A passive investor who believes she has
Q20: An organizer is the individual that incorporates
Q21: John is the promoter of Wheelies Corp.
Q23: When a promoter is liable on a
Q24: A party who makes a preincorporation contract
Q25: The fiduciary duty to the corporation is
Q26: Which of the following is included in
Q27: A promoter:
A)may have liability on the contracts
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