RESA - RFBT PART 2 QUESTIONS AND ANSWERS LATEST UPDATE

RESA - RFBT PART 2 QUESTIONS AND ANSWERS LATEST UPDATE b. 2/3 - Answers Any director or trustee of a corporation may be removed from office by a vote of the stockholders holding or representing at least ___________ of the outstanding capital stock. a. 1/2 b. 2/3 c. 3/4 d. All c. Per diems - Answers In the absence of any provision in the bylaws fixing their compensation, the directors or trustees shall not receive any compensation in their capacity as such, except for reasonable ________. a. Honorariums b. Talent fee c. Per diems d. None of the above b. Solidarily - Answers Directors or trustees who willfully and knowingly vote for or assent to patently unlawful acts of the corporation or who are guilty of gross negligence or bad faith in directing the affairs of the corporation or acquire any personal or pecuniary interest in conflict with their duty as such directors or trustees shall be liable ______________ for all damages resulting therefrom suffered by the corporation, its stockholders or members and other persons. B a. Jointly b. Solidarily c. Both A & B d. None of the above c. 2/3 - Answers The owners of _________ of the outstanding capital stock may delegate to the board of directors the power to amend or repeal the bylaws or adopt new bylaws. a. 1/2 b. Majority c. 2/3 d. 3/4 b. Majority - Answers The owners of _________ of the outstanding capital stock may revoke the delegated power of the board of directors to amend or repeal the bylaws. a. 1/2 b. Majority c. 2/3 d. 3/4 c. April 15 - Answers Regular meetings of stockholders or members shall be held annually on a date fixed in the bylaws, or if not so fixed, on any date after ______ of every year as determined by the board of directors or trustees. a. January 15 b. March 15 c. April 15 d. December 15 a. One - Answers Special meetings of stockholders or members shall be held at any time deemed necessary or as provided in the bylaws: Provided, however, that at least ______ week/s written notice shall be sent to all stockholders or members, unless a different period is provided in the bylaws, law or regulation. a. One b. Two c. Three d. Ten b. 20% - Answers The board of the following corporations vested with public interest shall have independent directors constituting at least _______________ of such board. a. 10% b. 20% c. 30% d. 50% b. Six - Answers A person shall be disqualified from being a director, trustee or officer of any corporation if, within five years prior to the election or appointment as such, the person was convicted by final judgment of an offense punishable by imprisonment for a period exceeding _________ years.