Practice question
Under section 47, what shareholder fraction may delegate to the board the power to amend, repeal or adopt bylaws?
- One tenth of outstanding capital stock.
- One fourth.
- Two thirds of outstanding capital stock.
- Only one shareholder regardless of holdings.
- No delegation is ever permitted.
Legal references
- Revised Corporation Code, RA 11232, sections 6 and 45–47, https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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