Term of office. Directors in stock corporations or members in nonstock corporations shall have a term of 1 year. Each director and trustee shall hold office until the successor is elected and qualified.
A director who ceases to own at least one (1) share of stock or a trustee who ceases to be a member of the corporation shall cease to be such.
Independent directors are required for corporations vested with public interest. [See Independent Directors under the Revised Corporation Code]
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- Guidelines on the Administration of COVID-19 Vaccines in the Workplaces (Labor Advisory No. 3) - March 12, 2021