Final answer:
The answer is True. The statutory agent is the party who will be served with lawsuits against the corporation.
Step-by-step explanation:
The answer to this question is True. The statutory agent is indeed the party who will be served with lawsuits against the corporation. A statutory agent, also known as a registered agent, is an individual or entity appointed by a corporation to receive legal documents, such as lawsuits, on behalf of the corporation. This ensures that the corporation is properly notified of legal actions being taken against it, allowing it to respond or defend itself accordingly.