One of the following is not an attribute of a close corporation: Restriction can be made prohibiting the transfer of stock to outsiders unless and until the corporation buys these stocks from the transferring stockholder. Management of the corporation may be entrusted to the stockholders rather than to a А. В. board of directors. C. The number of stockholders may exceed 20 persons D. The stocks are not listed in any stock exchange or offered to the public.
One of the following is not an attribute of a close corporation: Restriction can be made prohibiting the transfer of stock to outsiders unless and until the corporation buys these stocks from the transferring stockholder. Management of the corporation may be entrusted to the stockholders rather than to a А. В. board of directors. C. The number of stockholders may exceed 20 persons D. The stocks are not listed in any stock exchange or offered to the public.
Chapter22: S Corporations
Section: Chapter Questions
Problem 2DQ
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