Multiple Choice
Which of the following is true regarding state approval of consolidations?
A) There is no requirement that the state approve consolidations.
B) After reviewing the plan to see that legal requirements are met, the secretary of state issues a certificate to grant approval.
C) The secretary of state must approve consolidations so long as the corporate entity at issue has sufficient assets.
D) The secretary of state must approve consolidations so long as creditors of the corporate entity at issue do not remain unpaid.
E) The secretary of state must approve consolidations so long as no more than 10% of either company's shareholders object.
Correct Answer:
Verified
Correct Answer:
Verified
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