But Different Folk Have Different Views

Yesterday, I pointed out several ambiguities in Corporations Code Section 701 and offered some alternative interpretations. Today, I heard from one reader who suggested some additional interpretations.

This reader suggests that “action” in Section 701(a) refers to the date on which the first request for consents is distributed or mailed to other shareholders. While the statute doesn’t exclude this interpretation, I don’t favor this reading.

Please see full article below for more information.

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