Under the Revised Act, Hartzell, a Director Who Is a Member

question 44

True/False

Under the Revised Act, Hartzell, a director who is a member of the board that declares an illegal dividend, may be but is not under all circumstances personally liable to the company for the amount that is illegal even if she personally voted for the distribution contrary to the company's charter.

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Definitions:

Evaluate

The process of assessing or examining something or someone critically to determine its value, significance, or condition.

Systematic Monitor

A methodical process or device used to observe, check, and record the operation or condition of something.

System Linkage

The process of connecting different systems or components to ensure they work together efficiently.

Policy Developer

A role or profession involving the creation and implementation of guidelines, principles, or rules within an organization or society.