Themis Essay 827

Question 1

A shareholder retains her right to vote if she pledges stock for collateral unless

Answer 1

she signs an agreement to the contrary.

Question 2

Certain shareholders have the right to inspect and copy corporate documents, so long as the shareholder

Answer 2

sends a signed written request at least 10 business days in advance and has a proper purpose for doing so.

Question 3

A proper purpose, needed for a shareholder to have the right to inspect and copy corporate documents, is

Answer 3

a purpose that relates to the shareholder’s interest in the company.

Question 4

A shareholder may only inspect and copy corporate records

Answer 4

at the corporation’s main office during business hours.

Question 5

In order for a shareholder to inspect and copy certain corporate records (e.g., minutes of the board of directors’ meeting, corporate accounting records, and the list of shareholders of record), the shareholder must

Answer 5

have been a shareholder for at least six months or must be the record owner or beneficial owner of at least five percent of the outstanding shares.

Question 6

If a shareholder encounters problems obtaining records to which they are entitled,

Answer 6

the shareholder may obtain an injunction from the court.

Question 7

Shareholders must be given written notice of an annual or special meeting

Answer 7

no less than 10 days and no more than 60 days before the meeting date.

Question 8

A shareholder may waive the required notice of a meeting either

Answer 8

in writing or by attending the meeting.

Question 9

A shareholder’s meeting attendance will not be a waiver to improper notice if the shareholder

Answer 9

attends the meeting to object to the lack of notice or defective notice and makes a formal objection at the beginning of the meeting.