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18 Cards in this Set
- Front
- Back
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at annual and special meetings of corporations shareholders may vote their shares or delegate their votes in a variety of ways. T/F
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True
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the most common method of delegating voting authority is the ----------
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proxy
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shareholders transfer their right to vote to someone else.
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proxy
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a proxy is only good for
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11 months
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a contract among shareholders to vote their shares a certain way or for a certain director.
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pooling agreement
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shareholders actually turn their shares over to a trustee and are the issued a trust certificate
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voting trust
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what are the three main ways a share holder can vote at annual and special meetings for a corporation?
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the proxy, pooling agreements, voting trust.
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------------ Have Right to Vote on Mergers, Consolidations, and Sale of All Assets, Not on Acquisition
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shareholders
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Board of Directors adopts resolution in favor of combination or sale
Resolution with notice of meeting sent to all shareholders Shareholders vote on resolution at meeting |
procedure for all mergers, consolidations, and sales of assets.
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Shareholders not voting in favor of the combination can force corporation to purchase their shares for cash – called appraisal rights
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dissenting shareholders
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Corporation May Use --------- to Defeat Dissenters’ Rights
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Freeze-Out
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Shareholders Have Access to -------- and ----------
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books and records
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a shareholder has a legitimate interest in reviewing corporate progress, financial status, and fiduciary responsibilities
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proper purpose
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Generally Share in a Corporation are Freely Transferable; However Sometimes Transfers are Restricted
T/F |
True
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Must be noted or referenced on stock certificates
Must serve a necessary purpose Must be reasonable |
requirements for transfer restrictions for shareholders to transfer shares.
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a corporation can be dissolved --------- or ----------
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voluntarily, or involuntarily
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occurs when shareholders agree to dissolve the corporation. occurs in smaller corporations when shareholders no longer get along, the business does not do well, or one of the shareholders is ill or dies.
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voluntary dissolution
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a dissolution of a corporation that is forced by some state agency, usually the state level attorney's office.
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involuntary dissolution
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