Practice question
SEC issues a compliant corporation’s certificate under official seal on June1. The founders collect the physical copy on June5 and start trading on June10. They dispute which date Section18 uses for personality. No other legal issue exists. Which is correct?
- June1, the issuance date
- June5, solely because the paper was collected then
- June10, solely because trading began then
- The founders’ future preferred date
- Only the first dividend date
Legal references
- RA11232 Revised Corporation Code: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html Sections2,4 and18.
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