Practice question
Which is expressly prohibited as consideration for issued shares under section 61?
- Actual cash paid
- Services actually rendered
- A subscriber’s promissory note
- Qualifying property actually received
- Previously incurred corporate indebtedness
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, section 61
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