True or False

Review Exercises T F 1. An alien corporation is one organized out of the state but doing business within the state. T 2. The board of directors establishes policy for a corporation. T F 3. The word "corporation" must be used in a corporate name. T F 4. A city or town is an example of a not-for-profit corporation. F 5. The officers of a corporation are usually appointed by the stockholders. F 6. If the articles of incorporation are to be mailed to the secretary of state, a transmittal letter should be prepared. -1 F 7. The signed corporate charter gives the corporation power to function. 8. The original copy of the articles of incorporation is mailed to the county court clerk's office. T F 9. The president of the corporation might sign the bylaws. T F 10. The rules that govern the corporation are called subscription agreements. T F 11. If a corporation plans to sell taxable goods or services, it must complete a sales Subchapter S election form. T F 12. Most bylaws provide that notice of meetings of corporations be given or that a waiver of those meetings be signed by the members of the group. F 13. One of the items in a corporate outfit is the corporate seal. bet T 14. A charter may also be called a corporate agreement. T 15. A charter is normally typed on 81/2 X 14-inch paper. T 16. A stock certificate is a contract for the purchase of securities. F 17. The divisions and subdivisions of bylaws are articles and sections. 18, A limited liability company is a partnership. 19. No two limited liability companies in a state can have the same name