Officers

Question 1

Does RMBCA require corporations to have particular officers?

Answer 1

no, it only provides that corporations can have whatever officers are provided for in its bylaws.

Question 2

Can an officer appoint other officers?

Answer 2

yes, if authorized by the board or the bylaws.

Question 3

Can one officer hold more than one office?

Answer 3

yes

Question 4

An officer’s duties are determined by what?

Answer 4

the bylaws or the board of directors

Question 5

The powers of officers is determined by what?

Answer 5

the law of agency

Question 6

Officers must carry out their duties in __________________ with the care an _____________________ in like position would exercise under similar circumstances.

Answer 6

good faith; ordinarily prudent person

Question 7

When may an officer resign from his office?

Answer 7

at any time

Question 8

If there is a contract that the officer will remain in his office for a given period of time, can he leave his office at any time?

Answer 8

yes

Question 9

How does an officer resign his office?

Answer 9

by giving notice to the corporation.

Question 10

The corporation may remove an officer for what purpose?

Answer 10

any purpose