What must be used in order to circumvent the general powers of the directors of a corporation to manage or supervise the ongoing business and affairs of a corporation?
A) provisions made in the bylaws or unanimous shareholders agreement
B) resolution of the majority shareholders of the corporation
C) provisions contained in the bylaws or a shareholders' agreement
D) unanimous resolution of majority and minority shareholders

Question

Quizplus · Accepted Answer

A unanimous shareholders agreement or specific provisions in the bylaws can limit or circumvent the directors' powers, as they are binding on the corporation and its directors.

What Must Be Used in Order to Circumvent the General