Which of the Following Best Describes the Function of the By-

question 19

Multiple Choice

Which of the following best describes the function of the by- laws of a corporation?

• A) They regulate the rights of creditors who hold a secured equity position.
• B) They contain the licensing statutes of the jurisdiction(s) where the corporation operates.
• C) They provide the general operating rules to run the business of the corporation.
• D) They describe acts which are illegal and for which the directors of a corporation can be punished by law.
• E) They are filed with the incorporating papers and take a special shareholders resolution to change their contents.

---

Definitions:

Cervical Vertebrae

The vertebrae of the neck region, forming the upper part of the spinal column and providing support and mobility to the head.

Ultimate Explanation

Refers to the deepest level of understanding for the reasons behind phenomena, often seeking to explain why things are the way they are in a broad, fundamental way.

Migration

The seasonal or periodic movement of animals from one region or habitat to another, often in search of food, breeding sites, or more favorable climates.

Circadian Rhythm

An internal process that regulates the sleep-wake cycle and repeats roughly every 24 hours.