A Corporation's Board of Directors

question 64

Multiple Choice

A corporation's board of directors:

• A) is selected by and can be removed by management.
• B) can be voted out of power by the shareholders.
• C) has a lifetime appointment to the board.
• D) is selected by a vote of all corporate stakeholders.

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Definitions:

Time of the Injury

The specific moment at which an individual is harmed or damaged, often critical in legal contexts.

Corporate Charter

The legal document that establishes a corporation and outlines its structure, objectives, and the authority to operate, also known as articles of incorporation.

Personal Liability

The legal responsibility of an individual to settle debts or obligations from their own assets.

Voting Trust

An agreement among shareholders to transfer their voting rights to a trustee.