All of the following are true of promoters of a corporation EXCEPT:

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Promoters of a corporation are primarily involved in the initial stages of setting up the corporation, including soliciting investors and preparing incorporation documents. Their role typically diminishes after the corporation has been established, and it is not their ongoing responsibility to continue soliciting capital whenever needed after incorporation. This task is generally taken over by the corporation's management and board of directors.

All of the Following Are True of Promoters of a Corporation