Corporation Code Flashcards
Effectivity date of the Revised Corporation Code
February 23, 2019
Rule that protects directors who act with due care and in good faith, as long as their decisions are lawful and in the best interest of the corporation.
Business Judgement Rule
Should a director, trustee or officer die, resign or in any manner cease to hold office, the secretary, or the director, trustee or officer of the corporation, shall, within ___ days from knowledgr thereof, report in writing such fact to the SEC.
7 days
The non-holding of elections and the reasons therefor shall be reported to the SEC within ___ days from the date of the scheduled election. The report shall specify a new date for the election, which shall not be later than ___ days from the scheduled date.
30; 60
This person shall have the duty to notify SEC of the death of the single stockholder of a one person corporation.
Corporate Secretary
