Which of the following is not a requirement for a de facto corporation?
A)An organization meeting was never held.
B)There is a valid statute under which the corporation could be organized.
C)The promoters make an honest attempt to organize under the statute.
D)The promoters exercise corporate powers.

Question

Quizplus · Accepted Answer

There are three requirements for a de facto corporation: (1)there is a valid statute under which the corporation could be organized, (2)the promoters or managers make an honest attempt to organize under the statute,and (3)the promoters or managers exercise corporate powers.A de facto corporation will exist despite the lack of an organization meeting or the failure to make a duplicate filing of the articles with a county recorder.

Which of the Following Is Not a Requirement for a De