In Which of the Following Situations May a Nonjudicial Dissolution

question 20

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.

---

Definitions:

Power

The ability or capacity to influence or control the actions of others, often exercised through various forms of authority or resources.

Domestic Abuse

A pattern of behaviors used by one partner to maintain power and control over another partner in an intimate relationship, encompassing physical, emotional, sexual, or financial abuse.

Resources

Assets or materials available to individuals or societies that can be used to satisfy needs or achieve goals.

Law Enforcement Officer

An individual who is sworn to maintain public order and safety, enforce the law, and prevent, detect, and investigate criminal activities.