Subject: Partnership, Revised Corporation, Cooperative Law (Philippines)

True or False

1. In regular meetings of stockholders or members of record, a written notice shall be sent at least 10 days prior to the meeting.
2. Special meetings of stockholders or members shall be held at any time deemed necessary.
3. Right to vote of stockholders or members may be exercised in person, through a proxy, or by remote communication or in absentia, when the latter manner is so authorized in the bylaws.
4. Directors or trustees can attend or vote by proxy at board meetings.
5. Every decision reached by at least a majority of the director or trustees constituting a quorum shall be a valid corporate act.
6. Treasury shares, shall have voting right as long as such shares remain in the Treasury.
7. A voting trust agreement can be entered into for purposes of circumventing the laws against anti-competitive agreements, abuse of dominant position, anti-competitive mergers and acquisitions, violations of nationality and capital requirements, or for the perpetuation of fraud.
8. The voting trustee or trustees in a VTA may vote by proxy or in any manner authorized under the bylaws unless the agreement provides otherwise.
9. Revocation of a proxy may be made through formal notice, by verbal communication, or by the conduct of the stockholder or member as when he personally attends the meeting.
10. Proxy voting is allowed in the election of the Board of Directors or Trustees.
11. A stockholder or member who participates through remote communication or in absentia shall not be included in determining the quorum.
12. The proper place for stockholders or members meeting is in the principal office of the corporation as set forth in the articles of incorporation.
13. The election of officers shall require the vote of a majority of all the stockholders and members.
14. A proxy votes as a principal, and in person.
15. The chairman or, in his absence, the president shall preside at all meetings of directors or trustees as well as the stockholders or members.