Practice question
Can a section 59 subscription concern a corporation that is still to be formed?
- No, only listed corporations qualify
- No, only dissolved corporations qualify
- No, only foreign corporations qualify
- Yes, the section expressly includes a corporation still to be formed
- Only if every share is already outstanding
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 9, 35(f), and 59
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