The RMBCA states that "all corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed under the direction of, its:
A) chief executive officer."
B) shareholders."
C) officers."
D) board of directors."

Question

Quizplus · Accepted Answer

The Revised Model Business Corporation Act (RMBCA) specifies that all corporate powers are to be exercised by or under the authority of, and the business and affairs managed under the direction of, the corporation's board of directors. This establishes the board as the primary governing body within a corporation.

The RMBCA States That "All Corporate Powers Shall Be Exercised