Practice question
Which preference may section 6 authorize for preferred shares, subject to the applicable requirements?
- Automatic ownership of all creditors' assets.
- Freedom to violate all statutes.
- Unlimited immunity for a holder's personal crimes.
- A preference in dividends or liquidation distribution.
- A guaranteed right to cancel every other share unilaterally.
Legal references
- Revised Corporation Code, RA 11232, sections 3 and 6, https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
Answer this question in flashcards to review your response and continue practicing.