Sjo-Time's outstanding capital stock consists of 1,000 shares of common stock. SjoTime calls a special...
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Sjo-Time's outstanding capital stock consists of 1,000 shares of common stock. SjoTime calls a special shareholders' meeting for its shareholders to vote on dissolving the corporation. Six hundred of the shares are represented at the meeting. The vote on a resolution to dissolve the corporation came out as follows: 150 votes in favor, 100 votes against, and 350 abstentions. Did the resolution pass (assume MBCA default rules apply)? Yes No
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