NYLE - BUSINESS RELATIONSHIPS EXAM QUESTIONS AND ANSWERS 100% PASS

NYLE - BUSINESS RELATIONSHIPS
EXAM QUESTIONS AND ANSWERS
100% PASS


certificate of incorporation w the Sec of State containing certain detailed

info (including the corporate name, the corporate purpose, the county

where the office is to be located, specific info about the shares authorized to

be issued, the duration of the corporation if other than perpetual,

designation of the Secretary ofState as agent for service of process, and, if

desired, designation of a registered agent) - ✔✔Corporations: Formation &

Nature


Formation of a corporation under the Business Corporation Law (BCL)

requires the filing of a _______________________________.


biennially (every other year) - ✔✔Corporations: Formation & Nature




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,Every corporation must file ________ a statement confirming, among other

information, the address of its principal office and address for service of

process (BCL 408).


corporation, incorporated or limited (or an abbreviation of one of such

words) - ✔✔Corporations: Formation & Nature


The NAME of a business corporation generally must contain the word

__________________ (BCL 301 [a] [1]).


NOT permitted - ✔✔Corporations: Formation & Nature


Some phrases and many words are ____________ in corporate names or are

permitted only with the consent of a particular state agency. For example,

"insurance" may not be used without the approval of the superintendent of

financial services and "school" may not be used without the approval of the

commissioner of education, which approval must be attached to the

certificate of incorporation.


incorporator(s) at an organizational meeting; maj vote of SHs or, if

provided in the COI or a BL adopted by the SHs (including any by-law




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,adopted by the incorporators), by requisite vote of the Board (BCL 601). -

✔✔Corporations: By-Laws


The initial by-laws are adopted by the _______________. The by-laws may

contain any provisions relating to the business of the corporation, the

conduct of its affairs, and its rights and powers and those of its

shareholders.


Adoption, amendment or repeal of by-laws requires a

____________________________________________.


TRUE - ✔✔TRUE OR FALSE: any by-law adopted by the incorporators is

considered to be a by-law adopted by the shareholders.


Feb 22 1998 or formed after that date. - ✔✔The Business Corporation Law

(BCL) was substantially revised effective February 22, 1998, and now

includes some provisions which are different for corporations depending

on whether they were in existence on ___________________.


one vote for every share; maj of the votes cast at a meeting of SHs by the

holders of shares entitled to vote thereon - ✔✔Corporations: Voting




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, Every shareholder is entitled to _____________ standing in his or her name

on the record of shareholders, unless otherwise provided in the certificate

of incorporation (BCL612 [a]).


Any corporate action, other than the election of directors taken by a vote of

the shareholders, generally requires a _________________________, unless

otherwise provided by statute, the certificate of incorporation or a by-law

adopted by the shareholders (BCL 614 [b]).


majority of ALL outstanding shares entitled to vote thereon. -

✔✔Corporations: Statutory Exceptions to Voting


Approval of an amendment to the certificate of incorporation and

authorization of a shareholders' petition for judicial dissolution require the

vote of a __________________________.


amendment to the certificate of incorporation and authorization of a SHs'

petition for judicial dissolution - ✔✔Corporations: Statutory Exceptions to

Voting Rule


Approval of which 2 matters requires the vote of a majority of ALL

outstanding shares entitled to vote thereon?


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100% Pass Guarantee Katelyn Whitman, All Rights