RA 4690 Section 15

Subsidiary Corporations.

Section 15

SEC. 15. Subsidiary Corporations.—The capital stock of the subsidiary corporations shall be subscribed in whole or in part by the Company in joint venture with private investors or the provincial or municipal government of the region, in such amounts as may be determined by the Board. As soon as the Company is organized, the Catanduanes Development Authority, the organization of which is authorized under Republic Act No. 4412, shall be deemed and shall operate as a subsidiary corporation under this Act. CHAPTER VMANAGEMENT AND PERSONNEL

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

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