RA 11232 - Voting Rights

Question 1

Please provide 5 categories of Corporate Acts that need to memorize

Answer 1

1. CORPORATE ACTS WHICH REQURE AT LEAST MAJORITY VOTE OF THE BOD ALONE (EVP)
2. CORPORATE ACTS WHICH REQUIRE AT LEAST MAJORITY VOTE OF THE BOD AND VOTE OF THE STOCKHOLDERS REPRESENTING AT LEAST
   MAJORITY OF THE OCS (FAM)
3. CORPORATE ACTS WHICH REQUIRE VOTE OF THE STOCKHOLDERS REPRESENTING AT LEAST MAJORITY OF THE OCS ALONE (FFAD)
4. CORPORATE ACTS WHICH REQUIRE VOTE OF THE STOCKHOLDERS REPRESENTING AT LEAST 2/3 OF THE OCS ALONE (PARDS)
5. CORPORATE ACTS WHICH REQUIRE AT LEAST MAJORITY VOTE OF THE BOD AND VOTE OF STOCKHOLDERS REPRESENTING AT LEAST 2/3 OF THE OCS (ADAM-LI³ES)

Question 2

What is the required vote for declaration of cash dividends?

Answer 2

Approval by at least majority vote of the Board of Directors.