In order to lease substantially all of a corporation's assets not in the usual course of business:
a. shareholder approval is necessary.
b. shareholder approval is required if so determined by a subjective test under the 1999 amendments to the Revised Act.
c. approval of the board and the majority of the corporation's outstanding shares is required; dissenting shareholders do not usually have an appraisal remedy.
d. shareholder approval is unnecessary, unlike for the sale of assets.
a
Business
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Employee fraud is a type of operational risk to a financial institution.
a. true b. false
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If a corporation has an average tax rate of 40 percent, the approximate, annual, after-tax cost of debt for a 15-year, 12 percent, $1,000 par value bond, selling at $950 is ________
A) 10 percent B) 10.6 percent C) 7.7 percent D) 6.0 percent
Business