Practice question
Where must authority for the board to fix preferred-share terms under Section 6 be conferred?
- Only in a private letter from a promoter
- Only in an advertisement
- In the articles of incorporation
- Only in an employee manual
- Nowhere; authority is always unlimited
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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