All ▸ Bar 2024 ▸ COMMERCIAL AND TAXATION LAWS ▸ I. CORPORATION LAW (R.A. No. 11232, Revised Corporation Code) ▸ D. Directors, Trustees, and Officers ▸ 1. Qualifications and Disqualifications - Sections 22-26

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Directors, Trustees, and Officers: Qualifications and Disqualifications

Mr. Sanchez is a successful businessman who has been invited to serve as a director of XYZ Corporation. He is excited about the opportunity and believes he has the necessary qualifications to fulfill the role effectively. However, Mr. Sanchez recently heard about certain disqualifications that may prevent him from being appointed as a director.

In light of the given scenario, discuss the following:

1. What are the qualifications required for an individual to serve as a director of a corporation? Cite the relevant provisions of the Corporation Code of the Philippines.

2. Identify and explain at least three disqualifications that may prevent an individual from being a director. Reference the relevant provisions of the Corporation Code of the Philippines.

Explain the significance of these qualifications and disqualifications in ensuring the effectiveness and integrity of corporate governance in the Philippines.
Provide an example of a case where a director's disqualification led to serious consequences for the corporation. Analyze the legal implications and the lessons that can be learned from this case.

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