5. Alan owns 20% of ABC Corporation. ABC is a close corporation with only ten shareholders. All of the shares have transfer restrictions that do not permit shareholders to sell to people who are not current shareholders. The majority of the shareholders voted to change the purpose clause in the articles of incorporation, completely changing the nature of ABC. Alan disagrees with the majoritys vote. What may Alan do?

B. C. Alan may block the others from changing the purpose clause, since he owns more than 10% of the corporation. D. Both "A" and "B". E. All of the above. Group of answer choices

- Alan may require the corporation to pay him the fair value of his shares.

- False, Since Alan disagrees with the majoritys decision, and since that decision materially changes the stated purpose of the corporatiAlan may sell his shares to anyone, including people who are not current shareholders.

- Alan may block the others from changing the purpose clause, since he owns more than 10% of the corporation.

- All of the answers are correct