BSLW1102 Chapter Notes - Chapter 48: Law Of Agency, Fiduciary, Model Business Corporation Act
20 Jun 2016
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Shareholders: extent of management control by shareholders. B. 3. b) gives notice called by director or shareholders a minimum number of persons required to transact business certain number of stockholders need to be present: action without a meeting. C. 1. a) vote with a letter signed and no meeting. B. reviewing operating and financial results: approving sec filings, approving hiring of executives, evaluating managements performance and approving executive compensation packages, appointing and meeting with auditors, evaluating and acting on extraordinary matters, qualifications. I. 1. courts do not interfere unless there is. I. 1. b) illegal conduct fraud harming the rights of creditors, shareholders or the corporation. I. 2. broad authority that can be challenged as an abdication of boards management power. J. 1. disqualified for a secret conflict of interest. Yancey s - sold a company of the richer company to their smaller company and made money, but had recused themselves.
