Where No Independent Stock Transfer Agents Are Employed and the Corporation

question 52

Multiple Choice

Where no independent stock transfer agents are employed and the corporation issues its own stocks and maintains stock records, canceled stock certificates should

• A) Be defaced to prevent reissuance and attached to their corresponding stubs.
• B) Not be defaced, but segregated from other stock certificates and retained in a canceled certificates file.
• C) Be destroyed to prevent fraudulent reissuance.
• D) Be defaced and sent to the Secretary of State.

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