If Management Desires to Solicit Proxies from Shareholders,it Must

question 118

Multiple Choice

If management desires to solicit proxies from shareholders,it must:

• A) file the proposed proxy, proxy statement and other solicitation material with the Securities and Exchange Commission, and obtain SEC approval at the same time that the materials are sent to shareholders.
• B) file the proposed proxy, proxy statement and other solicitation material with the Securities and Exchange Commission at least thirty days in advance of the time that the materials are sent to shareholders.
• C) file the proposed proxy, proxy statement, and other solicitation material with the Securities and Exchange Commission at least ten days in advance of the time that the materials are sent to shareholders.
• D) file the proposed proxy, proxy statement, and other solicitation material with the Securities and Exchange Commission at least ten days in advance of the time materials are sent to shareholders, but only if financial statements will be distributed.
• E) not file anything with the Securities and Exchange Commission, unless the SEC receives complaints about the materials that are distributed.

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Definitions:

Federal Legislation

Laws enacted by the federal government or Congress that apply to the entire country and supersede state laws in areas of federal jurisdiction.

Fixtures

Items that are attached to the property in such a way that they become part of the real estate and are legally considered to be a part of the property.

Priority of Creditors

The legal principle determining the order in which creditors are paid in the event of a debtor's bankruptcy or liquidation of assets.

Secured Transactions

Financial agreements or deals where the borrower provides a creditor a security interest in an asset as collateral for a loan.