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 contingent upon a vote or representation at a meeting. The sole exception is the right to dividends, which the holder retains, although any cash dividends due must first be applied to the unpaid subscription balance. All suspended rights are immediately restored only upon full payment by the holder of the amount due, plus accrued interest, costs, and expenses.
02 November 2025
About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
