The Revised Act Authorizes the Articles of Incorporation to Include

question 72

Multiple Choice

The Revised Act authorizes the articles of incorporation to include a provision eliminating or limiting, with certain exceptions, the liability of a director to the corporation or its shareholders for any action he takes, or fails to take, as director.These limitations or exceptions, for which liability would not be affected, include:

• A) the amount of any financial benefit the director receives to which he is not entitled, such as a bribe, kickback, or profits from a usurped corporate opportunity.
• B) an intentional violation of the criminal law.
• C) liability under Section 8.33 for unlawful distributions.
• D) an intentional infliction of harm on the corporation or the shareholders.
• E) All of these are correct.

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Definitions:

Security Needs

Fundamental psychological or physical needs that include safety, health, and well-being.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Esteem Needs

According to Maslow's hierarchy of needs, these are the fourth level of human needs, involving confidence, respect from others, and a sense of achievement.

Physiological Needs

Basic human needs for survival and physical well-being, such as food, water, shelter, and sleep, posited as foundational in Maslow's hierarchy of needs.