Any corporate act that does not fall under any of the transactions requiring stockholders’ or members’ approval can be carried out by mere board resolution.Group of answer choicesTrueFalse PreviousNext

A majority of the board of directors or trustees, and the owners of at least a majority of the outstanding capital stock, or at least a majority of the members of a nonstock corporation, at a regular or special meeting duly called for the purpose, may amend or repeal the bylaws or adopt new by laws. Group of answer choicesTrueFalse

All board members have to universally comply with the _____________.a.government lawsb.shareholders interestc.relevant guidelinesd.company laws

Pre-emptive right may be denied to a stockholder ____________.a.At the discretion of the board of directorsb.By the articles of incorporation or by amending the articles of incorporationc.By the by-laws of the corporationd.By the vote of 2/3 of all shareholders

Where the law expressly requires a meeting for a particular transaction, any action taken by the corporation without a meeting properly held for such purpose is void.Group of answer choicesTrueFalse

A sale of all or substantially all of the corporation's properties and assets, including its goodwill, must be authorized by the vote of stockholders representing a majority of the outstanding capital stock, or a majority of the members, in a meeting duly called for the purpose.Group of answer choicesTrueFalse