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?

Answer rating: 100% (QA)

1 Notice of Annual Meeting Under the Model Business Corporations Act 2016 a corporation must provide ... View the full answer