Week 5 Quiz
Unless otherwise stated in the articles of incorporation, a quorum to hold a meeting of the
shareholders is generally defined as which of the following?
A committee of directors selected to vote on a corporation action
The number of registered shareholders eligible to vote at a given time
A majority of shareholders required to be present to vote on a corporate action
The number of shareholder votes necessary to pass an action
The Sarbanes-Oxley Act prohibits publicly traded companies from making personal loans to
Its legal counsel
Its certified public accountants
Its executive officers or directors
Its majority shareholders
According to the provisions set forth by the Sarbanes-Oxley Act, which federal government
agency may issue an order prohibiting any person who has committed securities fraud from
acting as an officer or a director of a public company?
Securities and Exchange Commission
Federal Communications Commission
United States International Trade Commission
Federal Reserve System
Under what system of corporate voting by shareholders can a minority shareholder achieve
success in electing someone to the board of directors?