When a company is harmed, the board of directors can sue on behalf of the corporation. If they do not, the shareholders may brin
g a(n) ____ action. Before filing suit, the shareholders must make a(n) ___ demand of the board to do so. If the board does not take action within ____ days, the shareholders can file suit. A court may dismiss the case if the majority of directors or a(n)___ panel determines in good faith that the lawsuit is not in the best interest of the corporation.
When a company is harmed, the board of directors can sue on behalf of the corporation. If they do not, the shareholders may bring a DERIVATIVE action. Before filing suit, the shareholders must make a WRITTEN demand of the board to do so. If the board does not take action within 90 days, the shareholders can file suit. A court may dismiss the case if the majority of directors or an INDEPENDENT panel determines in good faith that the lawsuit is not in the best interest of the corporation.
This statement is false. A dependent cannot claim a personal exemption on his or her own return. However, what a dependent can do is claim a limited standard deduction, which may or may not be granted.
