Mark True or False for each question

1. The articles of incorporation may provide for more than one vote for any share. 2. In cumulative voting, the shareholder may cast all votes for one director or may distribute the votes as the shareholder desires. 3. Solicitation of proxies is usually done in small closely-held corporations. ( 4. Voting trust certificates are not as transferable as the shares they represent. 5. While there is a statutory right to inspect books and records, there is no common law right to inspect books and records. () 6. Generally, to inspect accounting records a shareholder must show good faith and have a proper purpose for examining the records. 47-5 7. A preemptive right, if exercised, prevents dilution of a shareholder's financial interest in the corporation. 0) 8. No preemptive right generally exists to acquire shares issued for property or services rather than cash. 0) 9. Because the board of directors acts as a body, no individual director may avoid personal liability for board actions