Question

True/False:

A special meeting can be called by the shareholders to consider and vote on whether or not to declare dividends.

The bylaws of a corporation can require a super majority of the outstanding shares of stock to vote on a major issue such as the takeover by a third party.

The board of directors may bring a director's derivative lawsuit on behalf of the corporation if the shareholders fail to bring the requested lawsuit after 90 days from the date of of demand to file a lawsuit by the board of directors.

Answer 1