Watered Stock

What is the liability imposed on directors or officers for issuing watered stocks?

Legal Answers /

What is the liability imposed on directors or officers for issuing watered stocks? A director or officer who consents to the issuance of stocks for a consideration less than its par or issued value is personally liable for the difference (SEC. 64, Revised Corporation Code of the Philippines). Liability also extends to those who consent […]

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Name two types of consideration that are explicitly prohibited for the issuance of shares of stock.

Legal Answers /

Name two types of consideration that are explicitly prohibited for the issuance of shares of stock. Stocks shall not be issued for a consideration less than their par or issued price, a principle known as prohibiting “watered stock” (SEC. 61, Revised Corporation Code of the Philippines). The Code then explicitly prohibits the issuance of shares

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