State whether the following statements are True or False.
1) Buying shares is the most common way to become Member of the company.
Ans:- True
2) Both; Individuals and body corporates can be members of the company.
Ans:- True
3) Legal competency to enter into contracts is one of the criteria to become member of the
company.
Ans:- True
4) Limited Liability Partnership cannot be a member of the company.
Ans:- False
5) Karta of HUF can be a member of company.
Ans:- True
6) Member of the company is conferred with several rights.
Ans:- True
7) Member is entitled to profits of the company when dividend is declared.
Ans:- True
8) Member of company can attend general and Board meetings of the company.
Ans:- False
9) Right to appoint Director is given to Members.
Ans:- True
10) Minor can be the member of the company.
Ans:- False