The Articles of Incorporation State the Number of Shares That

question 32

Multiple Choice

The articles of incorporation state the number of shares that may be issued.The corporation:

• A)must issue all authorized shares.
• B)is unlimited in the number of authorized shares that it may have.
• C)needs only board approval to issue authorized shares.
• D)Both A and B.
• E)Both B and C.

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Definitions:

Material Alteration

A substantial change to a document or agreement that affects its essence or legal effectiveness.

Genuine Signatures

Authentic and original signatures that verify the identity of signatories and their intent.

Unauthorized Signatures

Signatures made without the express permission or authority of the person purported to sign, potentially leading to legal complications in contract enforcement.

Bank Statement

A monthly or periodic document summarising the financial transactions and balance in a person's bank account.