Under the Delaware LLC Act, how does a limited liability company elect to be manager-managed versus member-managed?

a. It does not need to do anything, the statutory default is manager-managed.

b. A majority of the members approve a resolution to that effect its annual members meeting.

c. It provides for it by including a statement to that effect in its operating agreement.

d. It cannot do so. Manager-managed LLCs are not permitted under Delaware law.

Under the MBCA, how much notice is required to to call a special meeting of the shareholders?

a. No fewer than 20 days and not more than 60 days before the date of the meeting

b. No fewer than 10 days and not more than 60 days before the date of the meeting

c. At least 30 days before the date of the meeting

d. At least 60 days before the date of the meeting

Under the MBCA, what is the default voting requirement (other than for the election of directors) for a matter presented to shareholders to be approved?

a. A majority of the votes present in person or by proxy at the meeting must approve the matter

b. A majority of the votes necessary to constitute a quorum for the meeting must approve the matter

c. The votes cast in favor of the matter must exceed those cast against the matter

d. 100% of all votes present in person or by proxy at the meeting (excluding abstentions and broker non votes) must approve the matter

Under both the MBCA and the Delaware General Corporation Law, how many directors must sign in order to act by written consent?

a. A majority of the board then in office

b. A majority of the total number of the board members designated in the corporations charter or bylaws

c. The Chairperson of the Board of directors and at least one other director

d. All of the board members