Exam 34: Corporate Directors, officers, and Shareholders

Karen and Laura are officers of Marketing Wizards Inc. As corporate officers,the rights of Karen and Laura are

Dividends can be paid in cash or property,but not in stock in other corporations.

Gayle is a shareholder of Harbor Bay Equipment Inc. with preemptive rights. With these rights,Gayle can

Every shareholder is entitled to examine specified corporate records but only in person,not through an agent.

The initial board of directors of a corporation is normally elected at the first annual shareholders' meeting by a majority vote of the shareholders.

Many states permit a corporate board to have fewer than three directors.

Farrah and Grant are shareholders of Hong Kong Restaurants,Inc. As shareholders,they must approve

Rihanna owns one share of stock in SportBoards Corporation,as evidenced by a stock certificate. Rihanna loses the certificate. Her ownership of the stock is

Publicly held corporations typically create committees of directors and delegate certain tasks to these committees.

A director or officer must exercise due care in performing their duties,including acting in good faith.

Directors can delegate work to corporate officers and employees.

As a general rule,shareholders make daily business decisions for a corporation.