Practice question
A person was found administratively liable for fraudulent acts two years before appointment as corporate officer. The person says Section26 concerns only criminal convictions and never administrative findings. Which statement is correct?
- All administrative findings are automatically irrelevant.
- Only an actual prison sentence can ever matter.
- Section26 expressly includes administrative liability for offenses involving fraudulent acts within the stated five-year period.
- Corporate officers are wholly excluded from Section26.
- The person is qualified solely because no shares are owned.
Legal references
- RA11232, Revised Corporation Code, Sections22,24,26,34 and52: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
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