JSFiddle - React, Tailwind, and code Playground
HTML
<select size="4" name="ctl00$ContentPlaceHolder1$ddlSubject" multiple="multiple" id="foo" class="chosen-select" style="height: 250px; width: 250px;">
<option value="Account - I" style="font-style:italic;" disabled="disabled">Account - I</option>
<option value="1" selected="true">Chap1</option>
<option value="2">Chap2</option>
<option value="3" selected="true">Chap3</option>
<option value="4">Chap4</option>
<option value="Joint Venture" style="font-style:italic;" disabled="disabled">Joint Venture</option>
<option value="5">Chap1</option>
<option value="6" selected="true">Chap2</option>
<option value="7">Chap3</option>
<option value="8" selected="true">Chap4</option>
</select>
JavaScript
var items = $("#foo option:selected").map(function() {
return $(this).text();
}).get();
console.log(items.join());