Practice question
A company covered by a special law prescribing minimum capital argues that section 12 cancels that requirement. Is it correct?
- Yes, all special capital laws disappeared
- Yes, section 12 contains no exception
- Yes, capital requirements apply only to nonstock corporations
- Yes, no activity may require minimum capital
- No, section 12 expressly preserves specifically provided special-law requirements
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 10, 12, 13(h), and 37
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