Act No. 1459 Section 45

Section 45

SEC. 45. The legal title to all stock purchased by the corporation at sales of stock for unpaid subscription is vested in the corporation, and the stock so purchased may be disposed of. by the stockholders in accordance with law and the by-laws of the corporation by a majority vote of all the remaining shares.

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Other provisions in CHAPTER I.—General provisions as to corporations.

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 1459 Section 45 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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