The Sarbanes-Oxley Act

Question 1

Model Act

Answer 1

Shareholders acting in good faith and with a proper purpose have the right to inspect and copy the corporation’s minute book, accounting records, and shareholder lists

Question 2

Proper purpose

Answer 2

One that aids the shareholder in managing and protecting her investment.

Question 3

Right to Vote

Answer 3

A corporation must have at least one class of stock with voting rights

Question 4

Quorum

Answer 4

Attendance requirement for companies’ shareholders at meeings