Practice question
A corporation seeks a cash-funded capital increase of P4,000,000 under section 37. Assume only the statutory minimum subscription and payment and no special rule. What minimum amounts must be subscribed and actually paid?
- P4,000,000 subscribed and P4,000,000 paid
- P1,000,000 subscribed and P250,000 paid
- P250,000 subscribed and P1,000,000 paid
- P100,000 subscribed and nothing paid
- Nothing subscribed because section 12 applies
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 10, 12, 13(h), and 37
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