Multiple Choice
In a merger,which of the following is true regarding the property of the absorbed corporation?
A) It must be held in trust for at least six months to satisfy claims of creditors.
B) It must be placed within the jurisdiction of the secretary of state for at least one year in order to satisfy claims of creditors.
C) It must be sold and distributed to the absorbed corporation's shareholders.
D) It is obtained by the surviving corporation.
E) It must be held in trust for at least one year to satisfy claims of creditors.
Correct Answer:
Verified
Correct Answer:
Verified
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