What is the rule for voting shares of stock owned jointly by two or more persons?
When shares are owned jointly by two or more persons, the consent of all co-owners shall be necessary for voting those shares (SEC. 55, Revised Corporation Code of the Philippines). This joint consent is required unless the co-owners execute a written proxy, signed by all of them, authorizing one or some of them or any other person to vote the shares on their behalf. However, if the shares are owned in an “and/or” capacity by the holders, a more permissive rule applies: any single one of the joint owners can vote said shares or appoint a proxy without the consent of the others. This distinction is crucial for determining corporate suffrage in cases of shared ownership.
02 November 2025
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