Corporate Law: Member Voting Rights
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Corporate Law: Member Voting Rights

Created by
@SuperbPromethium

Questions and Answers

How can the right to vote of members be modified?

  • It cannot be modified
  • It can only be limited or denied
  • It can be limited, broadened, or denied (correct)
  • It can only be broadened or denied
  • How can a member vote unless otherwise provided in the articles of incorporation or the bylaws?

  • Only in person
  • Only by proxy
  • Neither by proxy nor in person
  • Either by proxy or in person (correct)
  • What is the default number of votes per member?

  • No votes per member
  • One vote per member (correct)
  • Three votes per member
  • Two votes per member
  • Can membership in a nonstock corporation be transferred?

    <p>Only if the articles of incorporation or bylaws allow it</p> Signup and view all the answers

    How is membership terminated?

    <p>In the manner provided in the articles of incorporation or the bylaws</p> Signup and view all the answers

    What happens to a member's rights when their membership is terminated?

    <p>They extinguish all their rights</p> Signup and view all the answers

    Study Notes

    Membership Rights

    • Members of a corporation have the right to vote, but this right can be limited, broadened, or denied as specified in the articles of incorporation or bylaws.
    • Unless otherwise specified, each member has one vote, regardless of class.

    Voting Methods

    • Members may vote by proxy, as per the provisions of the Corporate Code.
    • The bylaws may also authorize voting through remote communication and/or in absentia.

    Nontransferability of Membership

    • Membership in a nonstock corporation is personal and non-transferable, unless otherwise specified in the articles of incorporation or bylaws.
    • All rights arising from membership are also non-transferable, unless otherwise provided.

    Termination of Membership

    • Membership can be terminated in the manner and for the causes specified in the articles of incorporation or bylaws.
    • Upon termination, all rights of a member in the corporation or its property are extinguished, unless otherwise provided in the articles of incorporation or bylaws.

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    Description

    This quiz covers the limitations and provisions of member voting rights in a corporation, as specified in the articles of incorporation or bylaws.

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