Question: True or False 16._____ It is never possible for a corporate officer to be personally liable for the debts and obligations of the corporation. 17._____

True or False

16._____ It is never possible for a corporate officer to be personally liable for the debts and obligations of the corporation. 17._____ An Illinois corporation may have as few as One (1) shareholder. 18._____ The death of a Shareholder will cause an automatic dissolution of a Corporation, by operation of law. 19._____ An Illinois corporation must have at least Five (5) Directors on the Board.

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