Where the Bylaws Require a Simple Majority Vote of Shareholders

question 7

Multiple Choice

Where the bylaws require a simple majority vote of shareholders for a particular action,what is the legal significance of a unanimous vote instead of simple majority vote?

• A) There is no difference in the legal effects of the two votes.
• B) The directors can override the vote if it is less than unanimous.
• C) The vote could be reversed at a later shareholders' meeting if it is less than unanimous,but not if it is unanimous.
• D) The dissenting shareholders can demand that the corporation repurchase their shares in a less than unanimous vote,but this would be inapplicable in a unanimous vote.

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Definitions:

Hormones

Chemical messengers produced by glands in the body, which regulate physiological activities and maintain homeostasis.

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another neuron, muscle cell, or gland cell.

Body Processes

Various physiological and biological functions carried out by an organism to maintain life, including respiration, digestion, and circulation.

Exocrine Glands

Glands that secrete their products through ducts either onto an external surface or into an internal space, unlike endocrine glands which secrete hormones directly into the bloodstream.