Answer the following statement(s) true (T) or false (F)
1. Failure to hold regular shareholders’ and directors’ meetings may be a factor taken into consideration in support of piercing the corporate veil.
2. Much of modern corporate law has been derived from the decisions of the courts of Delaware.
3. In smaller statutory close corporations, the corporation is usually managed by the board of directors, with little input or interference from the shareholders.
4. Corporations have the right to own property, including real estate, in the corporate name.
5. It is generally considered illegal to place restrictions on the transfer of shares of stock of a statutory close corporation.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
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