MODIFIED TRUE OR FALSE

1. Emergency Boards can be constituted by the remaining Board of Directors, even if they donot have a quorum, only in cases where it is necessary to avoid losses or liabilities.
2. Directors can only receive salaries if the same is indicated in the By-Laws.
3. Per Diem may be given to directors of a corporation but only upon resolution of the majorityof the Board.
4. Notice is optional as directors can waive this requirement if they so choose.
5. A stockholder who was not sent any notice of meeting but was present during andparticipated in the meeting cannot question the lack of quorum.
6. Joint-ownership stocks's right to vote must be done by both owners together.
7. A person who wants to acquire shares in a corporation must subscribe to shares of stock he wishes to acquire.
8. Certificate of stocks cannot be issued until there is full payment of the subscription and all other accessory costs.
9. Full payment of the subscription price of a share of stock makes the subscriber owner of theshare.