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Questions and Answers
How can the right to vote of members be modified?
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?
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?
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?
Can membership in a nonstock corporation be transferred?
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How is membership terminated?
How is membership terminated?
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What happens to a member's rights when their membership is terminated?
What happens to a member's rights when their membership is terminated?
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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.
