In Most States, but Not Under the Revised Act, Cumulative

question 84

True/False

In most states, but not under the Revised Act, cumulative voting is permissive and not mandatory.

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Definitions:

Public Share

Equity in a company that is available for trading by the general public on a stock exchange.

Securities Commission

A provincial agency that serves as a watchdog for the stock market.

Provincial Agency

A government entity or organization established at the provincial level to perform a specific function or provide a specific service.

Closely Held Corporation

A type of corporation that is privately owned, with a small number of shareholders, typically involving family or close acquaintances.