Under the Revised Act, If the Charter Simply States That

question 23

Multiple Choice

Under the Revised Act, if the charter simply states that the corporation elects to have preemptive rights, the shareholders have no preemptive rights with respect to:

• A) shares issued within six months of incorporation.
• B) shares issued as compensation to directors, officers, and employees.
• C) the corporation's unissued shares.
• D) Shares issued as compensation to directors, officers, and also employees and  shares issued within six months of incorporation.

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Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of deoxyribonucleic acid (DNA).

Sperm

The male reproductive cells capable of fertilizing a female's egg to produce offspring.

Egg

The female reproductive cell or gamete in animals and plants; an ovum.

Vagina

A muscular tube connecting the external genitals to the cervix of the uterus in females, part of the reproductive system.