Management Contract

What are the general voting requirements for a corporation to enter into a management contract with another corporation?

Legal Answers /

What are the general voting requirements for a corporation to enter into a management contract with another corporation? A corporation cannot conclude a management contract with another corporation unless the contract is approved by the board of directors and by stockholders owning at least the majority of the outstanding capital stock of both the managing […]

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When must a management contract be approved by a two-thirds (2/3) vote of the managed corporation’s stockholders?

Legal Answers /

When must a management contract be approved by a two-thirds (2/3) vote of the managed corporation’s stockholders? A management contract requires approval by the stockholders of the managed corporation owning at least two-thirds (2/3) of the total outstanding capital stock entitled to vote under two specific scenarios (SEC. 43, Revised Corporation Code of the Philippines).

When must a management contract be approved by a two-thirds (2/3) vote of the managed corporation’s stockholders? Read More »

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