Practice question
The bylaws purport to waive in advance all notice of every future stockholder meeting for all shareholders. Management invokes the clause to omit notice, although no shareholder separately waives this meeting’s notice. Which is correct?
- The blanket clause is always sufficient
- Section 49 prohibits general waivers of notice in the articles or bylaws
- Only minority shareholders need any notice
- All meetings automatically become board meetings
- Notice is required only if dividends are planned
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 48–51
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