Delegation

Under what conditions can stockholders delegate the power to amend bylaws to the board?

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Under what conditions can stockholders delegate the power to amend bylaws to the board? The power to amend or repeal bylaws, or adopt new ones, may be delegated to the board of directors or trustees by the owners of two-thirds (2/3) of the outstanding capital stock or two-thirds (2/3) of the members in a nonstock […]

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What are the mandatory composition and specific restrictions placed upon the powers of an Executive Committee?

Legal Answers /

What are the mandatory composition and specific restrictions placed upon the powers of an Executive Committee? The board may create an executive committee if authorized by the bylaws, and this committee must be composed of at least three (3) directors (SEC. 34, Revised Corporation Code of the Philippines). The committee may act on specific matters

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