Commercial Law, 2012 Bar — Question 55

MULTIPLE CHOICE

XXX Corporation and YYY Corporation have agreed to be merged into one corporation. To facilitate the merger, both corporations agreed that the merger be made effective on May 31, 2012. The Securities and Exchange Commission (SEC) approved the Articles of Merger on June 30, 2012. Which statement is most accurate? A) The effective date of the merger is May 31, 2012, the date stipulated by the parties as the effective date. B) The effective date of the merger is always the date of the approval of the Articles of Merger by the SEC. C) The effective date of the merger would be the date approved by the Board of Directors and the stockholders. D) The stockholders and the Board of Directors can set the effective date of the merger anytime after the approval of the SEC.

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