Corporations

Question 1

Corporations: General Roadmap

Answer 1

I. Applicable Law
II. Corporate Formation
III. Investing in a Corporation
IV. Distributions
V. Shareholders
VI. Management (Directors & Officers)
VII. Sale of Securities
VIII. Fundamental Changes
IX. Close Corporations
X. Limited Liability Companies

Question 2

I. Applicable Law

Answer 2

Revised Model Business Corporation Act (RMBCA)

Question 3

II. Corporate Formation

Answer 3

A. Promoter Liability
B. Corporate Liability
C. Incorporation

Question 4

III. Investing in Corporation

Answer 4

A. Types of Stock
B. Issuance of Stock

Question 5

IV. Distributions

Answer 5

A. Methods
B. Authorization
C. Insolvency
D. Liability
E. Priorities

Question 6

V. Shareholders

Answer 6

A. Duties
B. Meetings
C. Voting
D. Rights
E. Liabilities

Question 7

VI. Management (Directors & Officers)

Answer 7

A. Board of Directors
B. Officers
C. Duty of Care
D. Duty of Loyalty
E. Right of Indemnification

Question 8

VII. Sale of Securities

Answer 8

A. Closely Held Corporations
B. Federal Cause of Action

Question 9

VIII. Fundamental Changes

Answer 9

A. Approval
B. Merger
C. Sale of Assets
D. Stock Acquisition
E. Amending the Articles
F. Dissolution
G. Dissenter’s Rights of Appraisal

Question 10

X. Limited Liability Companies

Answer 10

A. Creation
B. Adding a new member
C. Management
D. Fiduciary Duties
E. Transferability
F. Profits and Losses
G. Termination of membership
H. Dissolution