Practice question
Under Section 63, when may a subscriber receive a stock certificate?
- Immediately after any verbal promise.
- After paying any small fraction chosen by the subscriber.
- After full subscription payment, including applicable delinquency interest and expenses.
- Only after the corporation dissolves.
- Only after every corporate debt is paid.
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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