The Statutory Close Corporation Supplement to the Model and Revised

question 74

True/False

The Statutory Close Corporation Supplement to the Model and Revised Acts applies only to corporations having fewer than forty shareholders.

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Definitions:

Findings of Fact

Are the conclusions reached by a judge or jury on the factual issues of a case.

Agency Rules

Regulations established by government agencies which have the force of law and are created to implement the will of Congress or state legislatures.

Congress

The national legislative body of the United States of America, consisting of two chambers: the Senate and the House of Representatives.

De Novo

A Latin term meaning "from the beginning," used in law to indicate a trial or hearing is to be conducted anew.