Case Digest on BALTAZAR V. LINGAYEN GULF ELECTRIC POWER CO., INC
November 11, 2010
Case Digest on BALTAZAR V. LINGAYEN GULF ELECTRIC POWER CO., INC.
Where the corporation has issued certificate of stock of a definite number corresponding to the initial payment made on the subscription, said shares may validly be voted at all meetings and only the remaining number of shares in the unpaid subscription will be affected by the call and subsequent declaration of delinquency in case of non-payment of the subscription balance.
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