corporations 3 Flashcards
A ________ can only act through its Board, Officers, Agents, or Employees.
Corporation
A Corporation can only _____ through its Board, Officers, Agents, or Employees.
act
A Corporation can only act through its ______, ______, _______, or _______.
Board, Officers, Agents, or Employees
The _______ acts as a collective body through votes at meetings or actions by written consent.
Board
The Board ______ as a collective body through votes at meetings or actions by written consent.
acts
The Board acts as a ______ _____ through votes at meetings or actions by written consent.
collective body
The Board acts as a collective body through ________ at ________ or actions by written consent.
votes
meetings
The Board acts as a collective body through votes at meetings or _______ _____ ______ _____.
actions by written consent.
________, ______, or ________ act with the authority delegated to them through the Board.
Officers, Agents, or Employees
Officers, Agents, or Employees ______ with the __________ delegated to them through the Board.
act
authority
Officers, Agents, or Employees act with the authority _________ to _______ through the ______.
delegated
them
Board
________ ________
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
* Sue and be sued
* Adopt bylaws
* Elect directors
* Obtain/ Encumber/ Dispose of property (real and personal)
* Make contracts
* Issue securities (including stock)
* Lend money
* Conduct business
* Pay salaries/ pensions/ dividends/ distributions
Corporate Powers
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1. ?
2.
3.
4.
5.
6.
7.
8.
9.
- Sue and be sued
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2. ?
3.
4.
5.
6.
7.
8.
9.
- Adopt bylaws
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3. ?
4.
5.
6.
7.
8.
9.
- Elect Directors
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4. ?
5.
6.
7.
8.
9.
- Obtain/ Encumber/ Dispose of Property (Real and Personal)
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4.
5. ?
6.
7.
8.
9.
- Make Contracts
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4.
5.
6. ?
7.
8.
9.
- Issue Securities (including stock)
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4.
5.
6.
7. ?
8.
9.
- Lend Money
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4.
5.
6.
7.
8. ?
9.
- Conduct Business
Corporate Powers
DGCL §§ 121-122
MBCA § 3.02
Powers Include:
1.
2.
3.
4.
5.
6.
7.
8.
9. ?
- Pay Salaries/ Pensions/ Dividends/ Distributions
