Under the Model Business Corporation Act,a director who is sued in connection with his/her duties to the corporation may be indemnified by the corporation when:
A) the director acted in good faith and his conduct was lawful.
B) the director failed to act in the best interests of the corporation.
C) the director's actions were grossly negligent but not intentional.
D) the director received unqualified financial benefits.
Correct Answer:
Verified
Q70: Which of the following rules is applicable
Q71: In the case in the text,Omnicare,Inc.v.NCS Healthcare,Inc.
Q72: Which of the following types of persons
Q73: Tony is employed as a truck driver
Q74: Generally,a nonprofit corporation cannot:
A)use ultra vires as
Q76: Which of the following committees chooses management's
Q77: Directors are entitled to _ notice of
Q78: In Brehm v.Eisner,the case in the text,the
Q79: Which of the following committees is directly
Q80: The MBCA permits directors to fill vacancies
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents