In a Reorganization, Each Corporation Must Obtain the Approval of the Majority

question 120

Short Answer

In a reorganization, each corporation must obtain the approval of the majority of its shareholders. The acquiring corporation must assume at least percent of the target's liabilities.

---

Definitions:

Wage Rate

The amount of money paid per unit time to an employee for their labor.

Employment

The state of having a paid position of regular work, contributing to an individual's ability to earn income and participate in economic activities.

TANF

Temporary Assistance for Needy Families, a federal assistance program in the United States designed to help needy families achieve self-sufficiency.

Welfare Rolls

Lists or records of individuals receiving government assistance, typically in the form of cash or food support.