Asked by Elijah Boyce on Jun 04, 2024
Verified
When a nonprofit corporation gives its members transfer rights,restrictions on those rights are only valid if approved by:
A) a majority of the members.
B) two-thirds of the members.
C) affected members.
D) all members.
Nonprofit Corporation
An organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes, without intending to generate profit for owners.
Transfer Rights
The legal ability to transfer one's interest or rights in a piece of property, asset, or contract to another party.
Restrictions
Limitations or conditions imposed by law, regulation, or agreement that control how something can be used or what actions can be taken.
- Understand thoroughly the legal systems overseeing transferability agreements and how they influence shareholders and corporations.
Verified Answer
Learning Objectives
- Understand thoroughly the legal systems overseeing transferability agreements and how they influence shareholders and corporations.
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