Under the Model Business Corporation Act (MBCA), a corporation does not need shareholder approval to purchase securities out of _____ surplus.

Name: Under the Model Business Corporation Act (MBCA), a corporation does not need shareholder approval to purchase securities out of _____ surplus.
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A corporation may purchase its securities from any willing seller. It does not need specific authority to do so in its articles. However, the MBCA permits such purchases only out of unrestricted earned surplus.

Under the Model Business Corporation Act (MBCA), a Corporation Does