Practice question
What income period does Section 29 use for the director-compensation ceiling?
- Any future year chosen by the board
- Only projected lifetime income
- Only the most profitable month ever
- The preceding year
- Only the year the company was formed
Legal references
- Revised Corporation Code, RA 11232, Section 29: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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