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

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

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

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

Any director or trustee of a corporation may be removed from office by a vote of the stockholders holding or representing at least two-thirds (2/3) of the outstanding capital stock, or in a non-stock corporation, by a vote of at least two-thirds (2/3) of the member entitled to vote.Group of answer choicesTrueFalse

The shareholders that are eligible to vote for the board of directors of a company are:Question 6Select one:a.all shareholders holding more than 1,000 shares.b.all shareholders who attend the annual general meeting.c.all shareholders holding voting shares.d.all preference shareholders.