A Charter Option Statute Authorizes a Corporation to Adopt a Specific

question 47

Multiple Choice

A charter option statute authorizes a corporation to adopt a specific amendment to its articles of incorporation to:

• A) grant directors and officers blanket immunity.
• B) remove breach of duty as a cause of action for monetary damages against directors.
• C) limit director liability without the approval of the board of directors and the shareholders.
• D) limit the maximum liability that may be imposed on directors to the sum of $100,000.

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Definitions:

Style of Life

A concept in psychology, especially within Adlerian theory, referring to an individual's unique way of achieving personal goals and dealing with life's challenges.

Inferiority Feelings

Emotions of inadequacy or insignificance stemming from a real or imagined comparison to others.

Motivating Force

The innate or developed factors that stimulate and direct behavior towards achieving personal or collective goals.

First-born Children

Individuals born first in their familial hierarchy, often discussed in psychological research for their tendencies and qualities distinct from their siblings.