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The only powers they generally exercise are the powers to elect directors, approve amendments to the articles of incorporation and approve "fundamental transactions.
4 To inspect statutory books and constitutional documents. For example, these include: The Register of Members (under section 116 of the Companies Act).
Rights related to the assets of the corporation. Rights related to the transfer of stock. Rights to receive dividends as declared by the board of directors of the corporation. Rights to inspect the records and books of the corporation. Rights to bring suit.
This book is licensed under a Creative Commons by-nc-sa . license. Explain the various parts of the corporate management structure and how they relate to one another. Describe the processes and practices of typical corporate meetings, including annual meetings.
Statutory rights are those that are enshrined by law (predominantly the Companies Act 2006). For example, the members can agree that resolutions approving short term loans to directors can be passed by members holding only 30% of the voting rights.