Close Corporations

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1. Under Section95, what is the maximum specified number of record holders in the required close-corporation articles prov… Multiple Choice Easy
2. Which articles provision is required for a close corporation? Multiple Choice Easy
3. Which corporation is expressly excluded from incorporation as a close corporation under Section95? Multiple Choice Easy
4. A corporation has only six stockholders, but its articles omit the required transfer restrictions and no-public-offerin… Multiple Choice Medium
5. A non-close corporation owns two-thirds of a company's voting stock. The company otherwise has the required close-corpo… Multiple Choice Medium
6. A qualifying close corporation's articles validly provide for direct management by stockholders rather than a board. It… Multiple Choice Hard
7. A close corporation places a transfer restriction only in a private side letter. It appears in neither the articles, by… Multiple Choice Hard
8. State the three required articles features for a close corporation under Section95. Essay Medium
9. Why does family ownership or near-total ownership by a married couple not alone establish close-corporation status? Essay Medium
10. Explain the legal consequence when qualifying close-corporation articles place management directly in the stockholders. Essay Medium
11. Under Section 97, what is the outer model for a permissible close-corporation transfer restriction? Multiple Choice Easy
12. Under Section 97, what happens when the stated purchase-option period expires without exercise? Multiple Choice Easy