Multiple Choice
The Statutory Close Corporation Supplement to the MBCA and RMBCA and special legislation in about twenty states accommodate the needs of closely held corporations by all but which of the following?
A) Permitting operation without a board of directors
B) Authorizing the use of shareholder agreements in place of bylaws
C) Requiring cumulative voting
D) Making annual meetings optional
Correct Answer:
Verified
Correct Answer:
Verified
Q15: The Revised Act requires that demand be
Q16: Directors ordinarily serve until someone who wants
Q17: The Revised Act and the majority of
Q18: With respect to the board of directors
Q19: Zeron Corporation stock may be summarized as
Q21: Cumulative voting is permitted so the majority
Q22: Who usually determines the compensation of officers
Q23: The officers and the directors are fiduciaries
Q24: A proxy is effective until the shareholder
Q25: Directors may vote by proxy when they