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:

Yellow Press

Sensationalism in newspaper publishing that reached a peak in the circulation war between Joseph Pulitzer’s New York World and William Randolph Hearst’s New York Journal in the 1890s; the papers’ accounts of events in Havana Harbor in 1898 led directly to the Spanish-American War.

Sensational Accounts

Reports or stories exaggerated or sensationalized to attract attention or provoke public interest and emotional reactions.

Platt Amendment

An amendment to a U.S. army appropriations bill (1901), which stipulated conditions for the withdrawal of United States troops remaining in Cuba following the Spanish–American War, and shaping the Cuban-U.S. relations thereafter.

Military Intervention

The act of a nation deploying its armed forces into another territory, typically for conflict resolution, peacekeeping, or to enforce a political objective.