Amanda is a shareholder of Abec Corporation.She received an illegal dividend from Abec.Must she return that dividend to Abec?
A) Yes,but only if she was aware that the dividend was illegal.
B) Yes,regardless of whether she was aware that the dividend was illegal.
C) No,once a dividend has been distributed,it may not be recalled.
D) No,a shareholder has no liability regarding distributions from the corporation.
Correct Answer:
Verified
Q36: Which of the following is correct concerning
Q37: Under the Model Business Corporation Act (MBCA),how
Q38: Karen is attending the annual general meeting
Q39: The formula for determining the minimum number
Q40: The typical dissolution of a corporation requires
Q42: The Model Business Corporation Act (MBCA)provides that
Q43: A share split within the same class
Q44: When a majority of the directors of
Q45: Klingon Corporation has only one class of
Q46: A corporation's decision to issue a dividend,and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents