The notice to the defaulting members by the Board of Directors has to be given at least how many day......

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General Accounting Principles Company Final Accounts Add to Study Deck

The notice to the defaulting members by the Board of Directors has to be given at least how many days -

Explanation:

The authority to forfeit shares is given to the Board of Directors in Articles of Association of the company. The Board of Directors has to give at least fourteen days notice to the defaulting members calling upon them to pay outstanding amount with or without interest as the case may be before the specified date.