Which of the following statements reflects the transferability of ownership rights in a corporation?

a. If a stockholder decides to transfer ownership, he must transfer all of his shares.
b. A stockholder may dispose of part or all of his shares.
c. A stockholder must obtain permission of the board of directors before selling shares.
d. A stockholder must obtain permission from at least three other stockholders before selling shares.

Answer: b. A stockholder may dispose of part or all of his shares.