Practice question
A registered stockholder seeks inspection of corporate records during reasonable business hours for a legitimate purpose. No statutory disqualification or misuse exists. Management refuses solely because she owns only one share. Which is correct?
- Small ownership alone does not defeat the statutory inspection right
- Only majority owners may inspect
- Only directors have any inspection right
- One share creates no stockholder rights
- The president may abolish inspection by oral order
Legal references
- https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/86463 — RA 11232, sections 23, 38, 42, 71, 73 and 74
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