Practice question
When Section 30’s adverse-interest rule applies, in what capacity is the disloyal fiduciary liable for the corporation?
- As its sovereign regulator
- As a private legislator
- As the automatic majority owner
- As a trustee who must account for the relevant profits
- As an owner of every corporate asset
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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