QUIZ 2: ABL 3

1-3. Define: STOCK CORPORATION

4-5. Define: FOREIGN CORPORATION
6-10. True or False
6. Membership and all rights under a non-stock corporation are personal and non-transferable unless provided by the Articles of
Incorporation or By-Laws.
7. A non-stock corporation cannot amend it’s Articles of Incorporation and convert itself into a stock corporation except as otherwise
indicated in the Corporate By-laws thereby allowing it.
8. A non-stock corporation may have any number of trustees as fixed in the Articles of Incorporation or By-laws.
9. Trustees elected to fill vacancies shall only serve for the unexpired portion of the term unless the reason for vacancy is due to the death
of a trustee.
10. The right to vote may be limited, broadened or denied to some extent in cases of non-stock corporations.
11-15. State the rules when the assets of a non-stock corporation are to be distributed in cases of dissolution. (IN ORDER)

QUIZ 2: ABL 3

1-3. Define: STOCK CORPORATION

4-5. Define: FOREIGN CORPORATION
6-10. True or False
6. Membership and all rights under a non-stock corporation are personal and non-transferable unless provided by the Articles of
Incorporation or By-Laws.
7. A non-stock corporation cannot amend it’s Articles of Incorporation and convert itself into a stock corporation except as otherwise
indicated in the Corporate By-laws thereby allowing it.
8. A non-stock corporation may have any number of trustees as fixed in the Articles of Incorporation or By-laws.
9. Trustees elected to fill vacancies shall only serve for the unexpired portion of the term unless the reason for vacancy is due to the death
of a trustee.
10. The right to vote may be limited, broadened or denied to some extent in cases of non-stock corporations.
11-15. State the rules when the assets of a non-stock corporation are to be distributed in cases of dissolution. (IN ORDER)

QUIZ 2: ABL 3

1-3. Define: STOCK CORPORATION

4-5. Define: FOREIGN CORPORATION
6-10. True or False
6. Membership and all rights under a non-stock corporation are personal and non-transferable unless provided by the Articles of
Incorporation or By-Laws.
7. A non-stock corporation cannot amend it’s Articles of Incorporation and convert itself into a stock corporation except as otherwise
indicated in the Corporate By-laws thereby allowing it.
8. A non-stock corporation may have any number of trustees as fixed in the Articles of Incorporation or By-laws.
9. Trustees elected to fill vacancies shall only serve for the unexpired portion of the term unless the reason for vacancy is due to the death
of a trustee.
10. The right to vote may be limited, broadened or denied to some extent in cases of non-stock corporations.
11-15. State the rules when the assets of a non-stock corporation are to be distributed in cases of dissolution. (IN ORDER)

QUIZ 2: ABL 3

1-3. Define: STOCK CORPORATION

4-5. Define: FOREIGN CORPORATION
6-10. True or False
6. Membership and all rights under a non-stock corporation are personal and non-transferable unless provided by the Articles of
Incorporation or By-Laws.
7. A non-stock corporation cannot amend it’s Articles of Incorporation and convert itself into a stock corporation except as otherwise
indicated in the Corporate By-laws thereby allowing it.
8. A non-stock corporation may have any number of trustees as fixed in the Articles of Incorporation or By-laws.
9. Trustees elected to fill vacancies shall only serve for the unexpired portion of the term unless the reason for vacancy is due to the death
of a trustee.
10. The right to vote may be limited, broadened or denied to some extent in cases of non-stock corporations.
11-15. State the rules when the assets of a non-stock corporation are to be distributed in cases of dissolution. (IN ORDER)