Practice question
The articles authorize the board to fix a preferred series’ terms. The board adopts them but deliberately makes no SEC certificate filing and claims adoption alone satisfies Section 6’s effectiveness proviso. Which is correct?
- No filing can ever be required
- The specified certificate filing remains required for effectiveness under the proviso.
- A private shareholder email replaces every filing
- The corporate secretary may abolish the proviso
- The terms automatically become national law
Legal references
- Revised Corporation Code, RA 11232, Sections 3 and 6: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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