Corporation Directors_Essay

Corporation Directors_Essay - [BUSINESS LAW II Jason M...

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[ BUSINESS LAW II ] Jason M. Davis Business Law II Paper Assignment 1 Due: Feb. 20, 2008 “Rights and Obligations of a Corporation’s Directors” 1. Article 8.03 of the Revised Model Business Corporation Act provides guidelines regulating the number of and procedures regarding the election of directors within a corporation: a board must consist of one or more individuals unless amended by its bylaws, must increase or decrease the number of directors by no more than 30% the number last approved, may establish limitations governing the number of directors allotted on the board, and must be elected at the first annual shareholders meeting. No breach of these regulations nor those provided in Ajax’s bylaws were made the day of David’s appointment, which in turn supersedes Craig’s authority to take action against said appointment. Craig’s only chance of preventing David’s appointment would have been to convince Alan and/or Bruce not to vote for David during the December board meeting, taking over the
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This essay was uploaded on 02/20/2009 for the course AEM 3210 taught by Professor Grossman,da during the Spring '07 term at Cornell.

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Corporation Directors_Essay - [BUSINESS LAW II Jason M...

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