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0 tracked cards Business Associations

A corporation proposes to sell its only factory and all operating equipment to a competitor, leaving the corporation with cash and no operating business.
Which statement best describes shareholder rights in the transaction?

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Shareholders never vote on any asset sale. A sale of substantially all assets outside the ordinary course can always be approved by one officer acting alone. Appraisal rights arise for every ordinary sale of inventory to customers. A sale of substantially all corporate assets outside the ordinary course commonly requires board approval and shareholder approval, and dissenters may have appraisal rights if statutory requirements are met.

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