Regarding community property when a couple permanently separates: All property becomes separate property. Property acquired after the separation is considered separate property. All property, including that acquired after separafion, remains community property until the disso One spouse can transfer property without the other's consent. What is an advantage of a corporation? They are affordable for small operations Shareholders have limited liability All members have voting rights Distributions to shareholders are taxed as personal income Section 4(2) of the Securities Act of 1933 provides exemptions from registration for: Small issues and small issuers. Issuers of less than $5 million of securities within a 12-month period. Private-placement offerings. Investment companies. Corporations are created: By oral agreement. By filing a certificate of limited partnership. By filing articles of incorporation. Through a written contract