Practice question
Under section 22’s general rule, which body exercises corporate powers and conducts corporate business?
- Every customer individually
- The board of directors or trustees
- Only the external auditor
- Only the largest creditor
- Every shareholder acting separately
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 22, 54–57
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