A director who has acted in bad faith or who is found liable to the corporation:
A) can be indemnified if the losses are lesser than the average annual salary.
B) may only be indemnified if some shareholders find the act to be appropriate.
C) may only be indemnified upon the approval of an independent legal counsel.
D) cannot be indemnified under any circumstances.
Correct Answer:
Verified
Q37: The vice president of a corporation:
A) cannot
Q38: A _ authorizes any corporation to adopt
Q39: The _ usually keeps the minutes of
Q40: A law that holds that directors will
Q41: A corporation is:
A) liable for all torts
Q43: With regard to the duty of directors
Q44: What are the three elements that must
Q45: In cases where an officer or director
Q46: Discuss whether a corporation may indemnify a
Q47: Which of the following acts requires CEOs
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