Practice question
Before articles submission, a subscriber seeks revocation during the initial period and obtains consent of all other subscribers. Which Section 60 qualification is relevant?
- A requirement of only the revoking party’s consent
- An automatic ban on every agreed revocation at that stage
- A private creditor’s exclusive veto
- The express all-other-subscribers-consent exception
- A duty to rename the shares
Legal references
- RA 11232: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463; Sections 59-60.
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