Jeannie\'s Garden Equipment, Inc. is a corporation that sells gardening tools. T

Question

Jeannie's Garden Equipment, Inc. is a corporation that sells gardening tools. The board of directors makes a proposal for voluntary dissolution of the company and submits it to the shareholders at a shareholders' meeting for approval. The proposal is approved.

Which of the following statements is true?

a. A court would likely hold that the shareholders did not need to be consulted for voluntary dissolution of the corporation to take place. b. A court would likely hold that a corporation could only be dissolved by the shareholders' unanimous decision to start the proceedings. c. A court would likely hold that this was a proper and legal method of voluntary dissolution of the corporation. d. A court would likely hold that this was not a proper and legal method of voluntary dissolution of the corporation

Explanation / Answer

Part d is correct

The articles of dissolution should also be filed with secretary of state which is not done in this state.

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