TRUE OR FALSE

1. Voting Trusts may be executed by a party in favor of his creditors as collateral for a loan.
2. The term of office of a President of a nonstock corporation generally has no termlimit
3. If after the payment of liabilities and other claims, there are still assets left from aliquidated nonstock corporation, the remaining assets shall accrue to the benefit ofthe members.
4. Termination of all the trustees of nonstock corporation does not give rise to theliquidation of the corporation.
5. With respect to access to the books and records, the penalties are imposed only on thecorporate officer, agent or director who denies access without just cause.
6. A business combination where a subsidiary is brought back into the parent company as a division of the latter is called mergers.

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