Nonjudicial Dissolution May Be Brought About By

question 43

Essay

Nonjudicial dissolution may be brought about by:
a. expiration of the time period for which the corporation was formed.
b. an administrative proceeding because the corporation did not notify the Secretary of State within 60 days that its registered agent resigned.
c. voluntary action taken by all the shareholders of all the outstanding shares of stock.
d. All of these.

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Definitions:

Fiat Money

Currency that a government has declared to be legal tender, despite it having no intrinsic value and not being backed by physical commodities.

Intrinsic Value

The inherent worth of an asset, independent of its market price, often based on what is fundamentally valuable about the asset.

Media Of Exchange

Objects or instruments used to facilitate the sale, purchase, or trade of goods between parties.

Demand Deposits

Bank accounts from which money can be withdrawn at any time without any notice, such as checking accounts.