Solved

MegaValue Corporation Requires a Quorum of Five Directors

Question 34

True/False

MegaValue Corporation requires a quorum of five directors.If Branson, a director, shows up at the meeting for a vote on his favorite topic (dividends) and withdraws thereafter, leaving only four directors, they, under the Revised Act, may not act on any further business.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q11: The percentage of shares required for a

Q16: A shareholder has no right to dissent

Q24: A proxy is effective until the shareholder

Q25: Directors may vote by proxy when they

Q30: A shareholder would have all of the

Q33: The role of shareholders in managing the

Q36: The board of directors of a corporation:<br>A)

Q42: The Revised Act provides that every shareholder

Q54: The Investor Protection and Securities Reform Act

Q69: The 2002 Sarbanes-Oxley Act forbids use of