Practice question
A subscriber has fully paid the price of a subscription, but delinquency interest and expenses remain due. The subscriber argues that the price payment alone conclusively satisfies Section 63. What is correct?
- Applicable delinquency interest and expenses must also be paid before certificate issuance.
- Interest and expenses are never relevant.
- The subscriber may erase the liability from the ledger.
- Any handwritten request overrides the statute.
- The remaining amount automatically becomes a dividend.
Legal references
- RA11232, RCC, Sections61–64: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
- Tan v. SEC, GR95696, March3 1992, main decision: https://lawphil.net/judjuris/juri1992/mar1992/gr_95696_1992.html
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