True/False

Indicate whether the statement is true or false.

_____ 5. Voting trusts generally are effective for one year.

_____ 10. Directors, but not officers, may compete with the corporation in their own private business dealings.

_____ 11. The Revised Act requires that demand be made upon the board of directors to enforce the corporate right at issue as a prerequisite to bringing a derivative suit.

_____ 12. A shareholder may bring a direct suit to enforce a claim that she has against the corporation, based on her ownership of shares.