Practice question
What continuing ownership qualification does Section22 require of a director?
- Ownership of every class of shares.
- Ownership of a majority of all shares.
- Ownership of every corporate asset.
- At least one share, with election from stockholders registered in the corporate books.
- Ownership of the largest subscription.
Legal references
- RA11232, Revised Corporation Code, Sections22,24,26,34 and52: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463
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