Question
Read factual scenarios as set forth in each section. Compose an answer facilitating the law and all facts supplied. Do not forget to include your
Read factual scenarios as set forth in each section. Compose an answer facilitating the law and all facts supplied. Do not forget to include your conclusion.
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:
Jupiter, who owns 500 shares;
- Juno, who owns 300 shares; and
- Ceres, 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 for Ceres' shares at the shareholders' meeting on June 30?
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