Practice question
Explain Section 173’s treatment of partly paid binding subscriptions and treasury shares in identifying outstanding capital stock for a nationality analysis.
Legal references
- Revised Corporation Code, RA 11232, Sections 2, 10, 35, 116 and 173: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
- Roy III v. Herbosa, G.R. No. 207246, November 22, 2016, main decision, SEC MC No. 8 two-aggregate framework: https://lawphil.net/judjuris/juri2016/nov2016/gr_207246_2016.html
Answer this question in flashcards to review your response and continue practicing.