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question 241

Multiple Choice

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Definitions:

Good Faith

Acting with honesty and sincerity without any intention to defraud or seek unfair advantage.

Model Business Corporation Act

A set of model statutes prepared by the American Bar Association to provide a standard framework for the incorporation and governance of corporations in the United States.

Indemnified

Protected or secured against financial loss or other legal liabilities.

Nominating Committee

A group within an organization responsible for proposing candidates for board of directors or other leadership roles, ensuring suitable and qualified nominations.