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Question
Since the level of doing business that constitutes intrastate business for qualification purposes has been difficult to define, the Model Business Corporation Act lists several activities that do not require qualification. One such activity is:
A. owning or using real estate for general corporate purposes.
B. soliciting orders by mail that require acceptance outside the state.
C. entering into contracts relating to local business or sales.
D. maintaining a stock of goods within a state from which to fill orders.
Answer
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B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
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C. A securities broker who provides investment advice to retail investors.
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