corporate power exercise by board of directors or trustees

CORPORATE POWER EXERCISE BY BOARD OF DIRECTORS OR TRUSTEES 1. Governing body of corporation. 2. Binding effect of stockholders action. 3. Extent of judicial review. LIMITATIONS ON POWERS OF BOARD OF DIRECTORS OR TRUSTEES 1. It must observe the limitations or restrictions imposed by the constitution, statutes, and rules and regulations having the force of law on the corporation including its articles of incorporation and by-laws. 2. It cannot perform constituents acts, that is, acts involving fundamental or major changes in the corporation. 3. It cannot exercise powers not possessed by the corporation.

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CORPORATION REVIEWER

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CORPORATE POWER EXERCISE BY BOARD OF DIRECTORS OR TRUSTEES

1. Governing body of corporation.2. Binding effect of stockholders action.3. Extent of judicial review.

LIMITATIONS ON POWERS OF BOARD OF DIRECTORS OR TRUSTEES

1. It must observe the limitations or restrictions imposed by the constitution, statutes, and rules and regulations having the force of law on the corporation including its articles of incorporation and by-laws.

2. It cannot perform constituents acts, that is, acts involving fundamental or major changes in the corporation.

3. It cannot exercise powers not possessed by the corporation.

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