Examlex
Identify and define two bases of power discussed in the text.
Straight Voting
A voting system where shareholders must vote for directors individually, with each shareholder's vote proportional to their shareholding.
MBCA
The Model Business Corporation Act (MBCA) provides a template for states in the United States to use in drafting their corporate statutes, aiming to harmonize the law of corporations across states.
Quorum of Shareholders
The minimum number of shareholders required to be present at a meeting in order to legally conduct business.
Operating Policy
Guidelines or principles that direct the operations and decision-making processes within an organization or business.
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