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Tuesday, March 19, 2013

BASIS OF QUORUM UNDER SEC. 52 OF THE CORPORATION CODE


For stock corporations, the “quorum” referred to in Section 52 of the Corporation Code is based on the number of outstanding voting stocks.  For non-stock corporations, only those who are actual, living members with voting rights shall be counted in determining the existence of a quorum during members’ meetings.  Dead members shall not be counted.  (TAN vs. SYCIP, G.R. No. 153468, August 17,2006)



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