Asked by Bryce Burns on Jun 04, 2024
Verified
The MBCA permits directors to fill vacancies on the board as long as it is approved by a ________ of the remaining directors.
A) senior director
B) quorum
C) two-thirds vote
D) majority vote
Quorum
A quorum is the minimum number of members of a deliberative assembly (such as a board or committee) necessary to conduct the business of that group.
Majority Vote
A voting requirement where more than half of the votes cast by persons entitled to vote is needed to make a decision or pass a resolution.
MBCA
Model Business Corporation Act, a set of model laws implemented by some states to regulate the affairs of corporations.
- Understand thoroughly the functionality and legal considerations in board meetings and the expectations from directors under miscellaneous corporate governance designs.
Verified Answer
PP
Prince PandeyJun 06, 2024
Final Answer :
D
Explanation :
The MBCA permits the directors to fill vacancies on the board.A majority vote of the remaining directors is sufficient to select persons to serve out unexpired terms,even though the remaining directors are less than a quorum.
Learning Objectives
- Understand thoroughly the functionality and legal considerations in board meetings and the expectations from directors under miscellaneous corporate governance designs.