Describe the cumulative voting rights available to stockholders in stock corporations.
In stock corporations, stockholders entitled to vote possess the right to vote the number of shares standing in their own names in the stock books at the time of the election (SEC. 23, Revised Corporation Code of the Philippines). They have three options for exercising this right: they may vote all their shares for as many persons as there are directors to be elected; they may cumulate their shares, giving one candidate a number of votes equal to their share count multiplied by the number of directors to be elected; or they may distribute their cumulated votes among several candidates as they see fit. The key limitation is that the total votes cast must not exceed the number of shares owned multiplied by the total number of directors to be elected, and no delinquent stock may be voted.
02 November 2025
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