Practice question
When do board-fixed preferred-share terms under Section 6 become effective under its certificate-filing proviso?
- Whenever a director thinks of them
- Only after a shareholder dies
- At the next annual picnic
- Upon filing the certificate of those terms with the SEC
- After remaining secret for five years
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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