Business Associations

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Across
  1. 2. when a company is this, the board is prohibited from declaring dividend
  2. 5. these people select the the board of directors at the annual meeting
  3. 6. exists where there's actual use of corporate power and good faith but unsuccessful attempt to incorporate under valid incorporation statute
  4. 9. exempts a promoter for personal liability for pre-incorporation contracts
  5. 10. minimum number of directors every corporation is required to have
  6. 14. what happens to short-swing profits received within 6-month period by a corporate insider
  7. 16. ground for court to pierce corp. veil
  8. 17. a shareholder may bring this type of suit on behalf of the corporation for harm done to the corporation
  9. 19. these types of lawsuits are brought by shareholders to vindicate their own rights
  10. 20. 10-60 days' notice that states the business purpose for this meeting is required
  11. 22. payments of cash, property or stock that a shareholder may receive from the corporation
  12. 23. manner of notice required to inspect corp. records
  13. 24. name of doctrine that provides that when corp. is insolvent, 3rd party creditors will be paid off before shareholder creditors
  14. 25. a majority of the board of directors who must be present at the time vote is taken
  15. 27. acts outside a corporation's stated business purpose
  16. 29. when a director or officer enters into a contract with the corp. or have a beneficial financial interest in a contract
  17. 30. the number of days the corporation has to respond to a shareholder's written demand to redress an injury to the corporation
  18. 31. person acting on behalf of a corp. not yet formed
  19. 33. the party that receives relief when a derivative action is successful
  20. 35. ground for court to pierce corp. veil
Down
  1. 1. modern trends says this type of shareholder owes a fiduciary duty to other shareholders
  2. 3. a rebuttable presumption that a director reasonably believed his actions were in the company's best interest.
  3. 4. When companies first issue stocks, it refers to the minimum amount the company could sell these stocks to stockholders.
  4. 7. days' notice required to inspect corp. records
  5. 8. officers, directors, and shareholders who own more than 10% equity in company
  6. 11. are those individuals receiving insider information who are liable only if the provider breached a fiduciary duty, they knew about the breach, and the provider personally benefitted.
  7. 12. showing shareholder must make to be entitled to inspect corporate books
  8. 13. number of months for which a proxy is valid
  9. 15. these types of changes to a corporate business or structure must be approved by a majority shareholder vote
  10. 18. when a director or officer personally acts on a business opportunity without first offering it to the corporation in violation of the duty of loyalty
  11. 21. one of the fiduciary duties owed by directors and officers that prohibits self-dealing
  12. 26. only shareholders may vote by this method
  13. 28. relief a shareholder could seek to avoid enforcement of ultra vires acts
  14. 29. maximum days' notice allowed for properly noticed meeting
  15. 32. type of liability that will be imposed on shareholders if corporate veil is pierced
  16. 34. are those individuals providing insider information who are liable if the information was shared for an improper purpose of personal gain