Which of the following persons is not an insider of a corporation subject to the Securities Exchange Act of 1934 registration and reporting requirements?
A. An officer of the corporation.
B. An owner of 5% of the corporation's outstanding debentures or the corporation's general counsel.
C. A member of the board of directors.
D. A shareholder who owns 12% of the outstanding common stock.
Answer: B. An owner of 5% of the corporation's outstanding debentures or the corporation's general counsel.
Business
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