Practice question
What stockholder vote may ratify the act under section 33’s express exception?
- A majority of directors alone
- At least two-thirds of outstanding capital stock
- Only 10% of those present
- Only the director’s own approval
- Every creditor unanimously
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 30 and 33
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