The JOBS Act Requires the SEC to Create a "Crowdfunding

question 16

True/False

The JOBS Act requires the SEC to create a "crowdfunding exemption" that would allow companies to raise $1 million in any 12-month period.

---

Definitions:

Directors

Directors are individuals elected by the shareholders of a corporation to oversee and direct the corporation's affairs and make significant business decisions.

Shareholder's Right

The entitlements and privileges, such as voting and profit sharing, accorded to individuals or entities owning shares in a corporation.

Dissent

The act of expressing or holding opinions that are at variance with those previously, commonly, or officially expressed.

Unanimous Shareholder Agreement

An agreement among all shareholders that may restrict the powers of the directors to manage or supervise the management of the company.