1. S1 - After dissolution but within the 3 year period of liquidation a corporation's term may still be extended by amendment of its articles of incorporation.

S2 - The dissolution of a corporation shall take place because it has been in continuous non-operation for 2 years.

• What is the Right/Wrong answer/s?

2. Unless the by-laws provide otherwise. regular meetings of the board of directors or trustees shall be held?

3. A delinquent stock-

Choose the correct answer

• Shall be entitled to cash dividends
• Shall be voted or be entitled to vote
• Shall be entitled to representation at any stockholders' meeting
• shall be entitled to inspect the books of the corporation

4. The commission may place the corporation under delinquent status should the corporation fail to submit the reportorial requirements three (3) times, consecutively or intermittently, within a period of five (5) years. True or False?

5. The appointment of the Nominee for OPC is irrevocable for a period of 6 months from the appointment. True or False?