Exam 35: Management Structure

What are some of the matters involving fundamental changes in the corporation?

The members of the board of directors are essentially trustees of the corporation.

Discuss the business judgment rule.

Under the statutes in most states, if Marilyn and George form a corporation with Marilyn as president and George as treasurer, Marilyn cannot also be corporate secretary.

An extension of a voting trust for an additional term binds only those shareholders that consent to the extension.

With respect to the voting rights of shareholders, a shareholder is entitled to vote:

In some states and under the RMBCA, cumulative voting is permissive, not mandatory.