Practice question
For Section 33’s ratification threshold, what is the denominator?
- Only votes of directors present
- Only the disloyal director’s holdings
- Only shares attending a private dinner
- Only the company’s cash balance
- Outstanding capital stock
Legal references
- Revised Corporation Code, RA 11232, Sections 30 and 33: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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