210. Prior to incorporation, a promoter is hired to do all of the following except211. Under the Revised Model Business Corporation Act (RMBCA), which of the following statements regarding a corporation’s bylaws is (are) true?II. A corporation’s bylaws are contained in the articles of incorporation.212. Traditional concepts applicable to large publicly held corporations often do not meet the needs of closely held ones. Accordingly, the RMBCA addresses these needs. Under the RMBCA,213. For several years, Joe Skipper was the principal shareholder, director, and chief executive officer of the Canarsie Grocery Corporation. Canarsie is in bankruptcy. Several creditors are seeking to hold Skipper personally liable as a result of his stock ownership and as a result of his being an officer-director. Skipper in turn filed with the bankruptcy judge a claim for $1,400 salary due him. Which of the followingis true?214. The essential difference between a stock dividend and a stock split is that a215. Which of the following statements is correct regarding both debt and common shares of a corporation?
216. Under modern statutes, the two general prerequisites to the declaration of a dividend areII. A resolution by the directors to declare a dividend.217. Which of the following acts is most likely to cause a court to pierce the corporate veil?218. The owner of cumulative preferred stock has the right to219. Opal Corp. declared a 9% stock dividend on its common stock. The dividend