If a Shareholder Receives a Dividend with Knowledge of It

question 57

True/False

If a shareholder receives a dividend with knowledge of it being an illegal distribution then the shareholder is liable to the corporation for the amount of the dividend.

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Definitions:

Chromosomes

Structures within cells that carry genes, made from DNA and proteins, and play a crucial role in inheritance and determination of genetic traits.

Genes

Basic units of heredity that are passed down from parents to offspring, containing DNA that determines characteristics and traits.

Endocrine System

A network of glands and organs in the body that produces, stores, and releases hormones to regulate various bodily functions and maintain homeostasis.

Adrenal Glands

Small, triangular glands located on top of both kidneys that produce a variety of hormones, including adrenaline and cortisol, which regulate metabolism, immune response, and stress responses.