Fill in the Blank (Select Correct Answer)
Fill in the Blank (Select Correct Answer)
The purchase of shares of stock in a corporation make that person an(officer, shareholder, director) of that corporation. Typcially, shareholders have (responsibility, no responsibility) for the daily management of the corporation. Shareholders are (not entitled, entitled) to participate in a shareholders meeting, which typically must occur at least (weekly, annually, monthly).
The date upon which stock owernship is recorded for voting rights purposes is known as a (voting date, record date, rights date). Any date can be selected as long as it is no more than (fifty, seventy, twenty) days before the shareholder meeting. Brenda purchased Mike's shares on (July 1, July 15, June 1), which is fifteen days (before, after) the record date. On the record date, (Brenda, Mike) owned the shares. Therefore, Brenda (does have voting rights, does not have voting rights) and Mike (does not have voting rights, does have voting rights) from the 100 shares of common stock sold by Mike to Brenda on June 15.
In order to conduct shareholder meetins and vote, a corporation must have at least (one, two, three) classes of stock with voting rights. Owners of common stock (usually, rarely, never) have voting rights. Owners of
A proxy is a representative of a (shareholder, officer, director) who is liable to (vote, sell shares, buy shares) on the shareholder's behalf at a shareholder meeting. Proxy agreements are generally valid for (eleven months, twelve months, thirteen months). At the time of the shareholder meeting, Francescas's proxy agreement was (fourteen months, thirteen months, twelve months) old. Therefore, Francesca's proxy agreement with her representative (expired, did not expire), and her representative (may not, may) vote on Franscesca's behalf.
What if the Facts were Different
Assume that Brenda purchased Mike's 100 shares of stock and Fransesca signed a new proxy agreement on May 15, 2020. Brenda's purchase of stock on May 15, 2020, is (after, before) the record date. On the record date, (Mike, Brenda) is the owner of the 100 shares and (may not, may) vote based on ownership of the 100 shares at the shareholder meeting. If Francesca signed a proxy agreement on May 15, 2020, it is (more than, less than) eleven months old at the time of the shareholder meeting. Therefore, Francesca's representative (does not, does) have the power to vote on Francesca's behalf.
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A proxy is a representative of a (shareholder, officer, director) who is liable to (vote, sell shares, buy shares) on the shareholder's behalf at a shareholder meeting. Proxy agreements are generally valid for (eleven months, twelve months, thirteen months). At the time of the shareholder meeting, Francescas's proxy agreement was (fourteen months, thirteen months, twelve months) old. Therefore, Francesca's proxy agreement with her representative (expired, did not expire), and her representative (may not, may) vote on Franscesca's behalf.
What if the Facts were Different
Assume that Brenda purchased Mike's 100 shares of stock and Fransesca signed a new proxy agreement on May 15, 2020. Brenda's purchase of stock on May 15, 2020, is (after, before) the record date. On the record date, (Mike, Brenda) is the owner of the 100 shares and (may not, may) vote based on ownership of the 100 shares at the shareholder meeting. If Francesca signed a proxy agreement on May 15, 2020, it is (more than, less than) eleven months old at the time of the shareholder meeting. Therefore, Francesca's representative (does not, does) have the power to vote on Francesca's behalf.
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