Question
Can someone please help me explain this? BACKGROUND FACTS: Assume a jurisdiction that has adopted the Model Business Corporations Act (2016) as its corporation statute
Can someone please help me explain this?
BACKGROUND FACTS:Assume a jurisdiction that has adopted the Model Business Corporations Act (2016) as its corporation statute.The Coliseum, Inc., is a closely held corporation with three shareholders as follows:
oJupiter, who owns 500 shares;
oJuno, who owns 300 shares; and
oCeres, who owns 200 shares.
The corporation is a concert promoter for singers and other entertainers and has been operating for almost a year.It begins to plan for its annual shareholder meeting where the shareholders will elect a new board of directors.The board has five board positions. The annual meeting is set for June 30.
Question 1:By when would The Coliseum have to provide notice of the annual meeting to the shareholders?
Question 2:The Coliseum sets a record date of June 8.Ceres sold her stock to a friend on June 9.Who votes Ceres' shares at the shareholders' meeting on June 30?
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