Final answer:
The waiting period for state residents to sell shares to non-residents is not standardized and could be governed by state and company-specific regulations.
Step-by-step explanation:
The question of how long must state residents wait to sell their shares to outside residents touches on both securities regulation and state laws concerning share distribution and ownership.
Different states may have different rules about the sale of shares from residents to non-residents, which can be influenced by state securities laws and corporate bylaws of the company whose shares are being traded.
However, your query is broad and might be subject to specific provisions depending on the state's regulation and the company's shareholder agreement or articles of incorporation.
It is important to note that there are various federal laws and Securities and Exchange Commission (SEC) regulations that dictate how and when shares can be sold to prevent fraudulent activities and protect investors.
In the hypothetical problem mentioned about Darkroom Windowshade Company with 100,000 shares of stock outstanding, the number of shares owned by the top investors is specified.
To change the company's top management, a simple majority vote of shareholders is typically required. Investor 1 and Investor 2 combined own 38,000 shares, which is less than a 50% majority. Thus, to ensure they can get their way in how the company is run, they would need support from additional shareholders.
Regarding shareholder voting rights, the question seems to pivot on elements of shareholder influence and company ownership.
While the provided data regarding the distribution of finances and the ownership structure is crucial to identify who precisely holds the power within the company, the process for selling shares to out-of-state residents is not explicitly detailed and would depend on state and federal regulation as well as company-specific documents.