Shana is a member of the board of Which of the following is correct regarding loans of a corporation. She would like to have the corporation lend her some money so that she can begin another business venture.

a . The Model Act does not permit a corporation to lend money to its directors without authorization in each instance by its shareholders.
b . The Sarbanes - Oxley Act prohibits any publicly held corporation from making personal loans to its directors or executive officers, with certain limited exceptions.
c . Both the Model Act and the Revised Act prohibit loans to directors in all cases.
d . Both (a) and (b) are correct.



Answer :

Other Questions