The Revised Act Explicitly Requires a Corporations's Charter to Authorize

question 30

Multiple Choice

The Revised Act explicitly requires a corporations's charter to authorize:

• A) one or more classes of shares that have limited voting rights.
• B) one or more classes of shares that together are entitled to receive the net assets of the corporation upon dissolution.
• C) Both are correct.
• D) nothing. The Revised Act only recommends, not requires, the charter contents.

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