1. 1. It is the generally accepted rule that third persons are bound by by-laws. II. By-laws may be necessary for the "government" of the corporation but these are subordinate to the articles of incorporation. a. Only I is true b. Only II is true C. Both are true d. Both are false 2. I. Bylaws may be adopted and filed prior to incorporation. II. In all cases, bylaws shall be effective only upon the issuance by the SEC of a certification that the bylaws are in accordance with the Revised Corporation Code. a. Only I is true b. Only II is true C. Both are true d. Both are false 3. It is a condition precedent in the acquisition of corporate existence. a. By-laws b. Shares of stock c. Articles of incorporation d. Rules, regulation and discipline 4. I. The owners of majority of the outstanding capital stock or majority of the members in a non-stock corporation may delegate to the board of directors or trustees the power to amend or repeal any by-laws or adopt new by-laws. II. The amended or new by-laws shall only be effective upon the issuance by the SEC of a certification that the same are not inconsistent with the Revised Corporation Code. a. Only I is true b. Only II is true C. Both are true d. Both are false 5. 1. Any power delegated to the board of directors or trustees to amend or repeal any by-laws or adopt new by-laws shall be considered as revoked whenever stockholders owning or representing 2/3 of the outstanding capital stock or 2/3 of the members in non-stock corporations, shall so vote at a regular or special meeting. II. Whenever the bylaws a