Board of Directors

Question 1

BoD Selection

Answer 1

Directors are selected by shareholders at the annual shareholder’s meeting

Question 2

BoD Removal

Answer 2

Shareholders may remove director for:

*Breach of fiduciary duty (common law)

*Without cause (modern trend)

Question 3

BoD Voting

Answer 3

For acts to be valid, a quorum of directors must be present at the meeting

Quorum = majority of all directors