Amendments to the Articles of Incorporation can take effect even without the approval of the SEC. TRUE FALSE
Amendments to the Articles of Incorporation can take effect even without the approval of the SEC.
TRUE
FALSE
Treasury shares are part of the outstanding capital stock of a corporation.
TRUE
FALSE
A director is removed from office by a vote of the stockholders holding or representing at least 2/3 of teh outstanding capital stock. The vacancy occasioned by such removal can be filled by the votes of at least a majority of the remaining directors if still constituting a quorum.
TRUE
FALSE
The Board of Directors may at any time declare due and payable to the corporation unpaid subscription of its capital stock.
TRUE
FALSE
Stocks issued by a corporation in excess of the amount prescribed or limited by its Articles of Incorporation are void even in the hands of a bona fide purchaser for value.
TRUE
FALSE
No proxy shall be valid and effective for a period longer than five (5) years at any one time.
TRUE
FALSE
Certificates of Stocks are quasi-negotiable instruments.
TRUE
FALSE
Subscribers for stock shall be liable to the corporation for interest from the date of subscription, but only if so required in the by-laws.
TRUE
FALSE
A de facto corporation has the same power, rights and liabilities as that of a de jure corporation, except that its is subject to direct attach by the State.
TRUE
FALSE
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