Normally a Member Can Withdraw His Shares After a Period

question 16

Multiple Choice

Normally a member can withdraw his shares after a period of

• A)one year
• B)two years
• C)three years
• D)five years

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Definitions:

Article 2

A portion of the Uniform Commercial Code that deals specifically with the sale of goods.

Statute

A written law passed by a legislative body at both the federal and state levels, intended to prescribe or prohibit certain actions.

UCC

Uniform Commercial Code; a comprehensive set of laws governing commercial transactions in the United States.

Valid Contract

A legally binding agreement between parties, fulfilling all necessary legal conditions and requirements.