In Close Corporations, Restrictions on the Transfer of Stock to "Outsiders

question 23

True/False

In close corporations, restrictions on the transfer of stock to "outsiders" are void.
A provision giving a corporation the right to purchase a shareholder's shares on the death of the shareholder is invalid.

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Definitions:

-oid

A suffix used in English to form adjectives or nouns indicating similarity or resemblance to something.

-al

a suffix denoting pertaining to or relating to something, often forming adjectives from nouns.

-ose

A suffix used in biochemistry to denote sugars or carbohydrates.

-osis

A suffix used in medical terminology to indicate a condition, disease, or increase.