Practice question
What is central to Section22's definition of an independent director?
- Being the most senior employee.
- Being management's unquestioning delegate.
- Having no obligation to exercise judgment.
- Having the greatest personal wealth.
- Independence from management and freedom from relationships materially interfering, or reasonably perceived to interfere, with independent judgment.
Legal references
- RA11232, Revised Corporation Code, Sections22,24,26,34 and52: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
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