Practice question
What does Section 69 preserve for a corporation collecting an amount due under an unpaid subscription?
- Only a private campaign appeal
- Only a compulsory foreign arbitration
- A court action for the amount due with the stated accrued interest, costs and expenses
- Only cancellation of all corporate records
- No collection remedy
Legal references
- Revised Corporation Code, RA 11232, Sections 59, 63, 66, 69 and 71: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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