Lex Rex Ph

RCCP Sec. 35 vs. Sec. 41 Corporate Investment

Section 35Section 41
What may be exercisedGeneral and implied powersInvestment only, not under implied power
Investment of fundsFor primary purpose (an implied power under 35[k])In another corporation, business or purpose
ApprovalBy a resolution of the Board+⅔ OCS or members

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