Chapter 10: Investments and Disclosure of interest Flashcards
1
Q
if any members asks for a copy of the register of investments not held in the name of the company, he shall receive a copy within what time?
A
7 days
2
Q
if a director makes a contract as a related party, and it is not ratified by the board within what days, it shall be voidable at the option of the board?
A
90 days
3
Q
penalty because of unauthorized related party transactions
A
3 million or 5 years
