The Courts May Grant a Petition of Involuntary Dissolution If

question 17

Multiple Choice

The courts may grant a petition of involuntary dissolution if shareholders:

• A) do not approve of fundamental changes of the board.
• B) show that the corporation has not kept adequate records or filed annual reports.
• C) did not receive their dividends.
• D) show that corporate assets are being squandered.

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Definitions:

Frame Rails

Frame rails are the long, horizontal structural members of a vehicle or trailer chassis, providing the foundational structure to which other components are attached.

Flanges

Rims, edges, ribs, or collars, often with attached bolts, used to strengthen or attach an object, such as pipes, to another.

Steel Scriber

A tool with a hardened steel point used for marking measurements or cutting lines on metal surfaces.

Ladder Frame

A type of vehicle frame construction resembling a ladder, with two longitudinal rails connected by several cross members.