Practice question
The bylaws fix no annual meeting date. What fallback does section 49 provide?
- A board-determined date after April 15 each year
- Only January 1
- Only December 31
- Any date chosen secretly by one shareholder without board action
- No annual meeting is required
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 48–51
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