One Person Corporations

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1. Who may form an OPC under section 116, subject to its limitations? Multiple Choice Easy
2. What positions does the single stockholder hold under section 121? Multiple Choice Easy
3. Must an OPC submit and file corporate bylaws under section 119? Multiple Choice Easy
4. The sole stockholder appoints herself president and corporate secretary of the OPC. Which is correct? Multiple Choice Medium
5. An OPC needs formal action on a matter. Under section 128, which record is sufficient in lieu of a conventional meeting? Multiple Choice Medium
6. An OPC’s sole stockholder commingles personal and corporate property and cannot prove their independence. He claims tha… Multiple Choice Hard
7. An OPC’s single stockholder dies. Its nominee claims that taking over management automatically makes the nominee the pe… Multiple Choice Hard
8. State the basic eligibility and officer rules for an OPC. Essay Medium
9. Explain the recordkeeping method in lieu of meetings and why it does not make an OPC record-free. Essay Medium
10. Explain the sole shareholder’s limited-liability safeguards under section 130. Essay Medium
11. Under Section 124, must written consent of the OPC nominee and alternate accompany the incorporation application? Multiple Choice Easy
12. Under Section 126, must the articles be amended solely to change the nominee through the prescribed submission? Multiple Choice Easy