Under the Statutory Close Corporation Supplement, a closely held corporation may use a shareholder agreement in place of bylaws.
Correct Answer:
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Q1: The members of the board of directors
Q2: A voting trust permits a concentration of
Q4: Only the board of directors may approve
Q5: In most states, but not under the
Q6: The board of directors generally manages the
Q7: Unissued shares and treasury stock must be
Q8: The percentage of shares required for a
Q9: A proxy is effective until the shareholder
Q10: Directors are elected at the annual meeting
Q11: Notice of a shareholder's meeting may be
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