Revised Corporation Code Section 73 to 106

When it comes to corporate records such as Financial Reports, the inspecting or reproducing party shall remain bound by confidentiality rules under prevailing laws, such as the rules on trade secrets or processes under "Intellectual Property Code of the Philippines" as amended by Republic Act No. 10173, otherwise known as

• Data Privacy Act of 2012

• The Securities Regulation Code

• The Revised Corporation Code

• The Intellectual Property Code

A Corporation shall furnish a stockholder or member within how many days from the receipt of their written request, its most recent financial statement, in the form and substance of the financial reporting required by the Commission.

• 5 days

• 10 days

• 30 days

• 60 days

It refers to the two corporations who plan to combine thru merger or consolidation

A combination of 2 Corporations in which one of the constituent corporations is considered as surviving corporation.

True or False

Any amendment to the plan of merger or consolidation may be made, provided, that such amendment is approved by a majority vote of the respective boards of directors or trustees of all the constituent corporations and ratified by the affirmative vote of stockholders representing at least two-third of the outstanding capital stock of either of the constituent corporations.

True or False

After the approval by the stockholders or members with regards to the Articles of Merger or Consolidation. The said Articles of Merger or Articles of Consolidation shall be executed by each of the constituent corporations, to be signed by the president and vice president.

The following should be stated in the Articles of Merger or Consolidation, except for

• The plan of the merger or the plan of consolidation

• For stock corporations, the number of shares outstanding.

• For each corporation, the number of shares or members voting, notwithstanding with the number of shares against such plan.

• The method to be used in the merger or consolidation of accounts of the companies.

True or False

If, upon investigation, the Commission has reason to believe that the proposed merger or consolidation is contrary to or inconsistent with the provisions of this Code or existing laws, the Commission will reject automatically the application for Merger or Consolidation of the constituents Corporation without any hearing.

True or False

One of the effects of Merger or Consolidation is the separate existence of the constituent Corporations shall cease, except that of the surviving or the consolidated corporation

True or False

Any stockholder of a corporation shall have the right to dissent and demand payment of the fair value of the shares in case of merger or consolidation