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Question
The Inkilwas Corporation has 30,000 shares outstanding. A shareholders' meeting is duly called to amend the company's articles of incorporation, and 17,501 shares are represented at the meeting. If an amendment to the articles of incorporation is put to vote at this meeting, which of the following statements is true in terms of passage of the amendment?A) The amendment will not pass, since all 30,000 outstanding shares must be represented at the meeting in order to vote to amend the articles of incorporation.
B) The amendment will pass if all 17,501 shares represented at the meeting vote to approve it.
C) The amendment will pass if 4,376 shares represented at the meeting vote to approve it.
D) The amendment will pass if 8,751 shares represented at the meeting vote to approve it.
Answer
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