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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A proposed domestic nonstock corporation inserts a secondary purpose that contradicts its nonstock nature. Its organizers argue that a secondary purpose is exempt from section 13. Is that correct?

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Yes; secondary purposes are never regulated. No; section 13 expressly bars a nonstock purpose that would change or contradict its nature. No; because nonstock corporations may never state any purpose. Yes; a heading overrides the statute.

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