When Independent Stock Transfer Agents Are Not Employed and the Corporation

Multiple Choice

When independent stock transfer agents are not employed and the corporation issues its own stock and maintains stock records, canceled stock certificates should:

A) be defaced to prevent reissuance and attached to their corresponding stubs.
B) not be defaced but be segregated from other stock certificates and retained in a canceled certificates file.
C) be destroyed to prevent fraudulent reissuance.
D) be defaced and sent to the secretary of state.