In Which of the Following Situations May a Nonjudicial Dissolution

question 75

Multiple Choice

In which of the following situations may a nonjudicial dissolution of a corporation occur?

• A) By shareholders of a close corporation who elect in the articles of incorporation to have the power to dissolve the corporation.
• B) By expiration of the time period provided in the articles of incorporation.
• C) By voluntary action on the part of all of the holders of outstanding stock.
• D) A nonjudicial dissolution may occur in all of the above ways.
• E) A corporation may only be dissolved by judicial action.

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Definitions:

Certainty

The level of assurance or confidence that an event will occur or a statement is true.

Swiftness

The quality of moving quickly or the ability to act or respond in a fast manner.

Cloward

Refers to Richard Cloward, a sociologist known for his work on the theory of structural strain in causing delinquency and crime.

Illegitimate Opportunity

refers to opportunities for crime that are available to people because of their position or environment, often seen in social learning theory.