Delinquency

How is the interest rate determined for unpaid subscriptions, and what is the penalty for failure to pay the subscription balance when due?

How is the interest rate determined for unpaid subscriptions, and what is the penalty for failure to pay the subscription balance when due? Subscribers are liable to the corporation for interest on all unpaid subscriptions from the date of subscription, provided this interest is stipulated in the subscription contract (SEC. 65, Revised Corporation Code of […]

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What stockholder rights are suspended for the holder of delinquent stock?

What stockholder rights are suspended for the holder of delinquent stock? No delinquent stock shall be voted for, be entitled to vote, or be represented at any stockholder’s meeting (SEC. 70, Revised Corporation Code of the Philippines). Consequently, the holder of delinquent stock is also denied any of the rights of a stockholder that are

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