Independent Directors. – Any corporation with a class of equity securities listed for trading on an Exchange or with assets in excess of Fifty million pesos (P50,000,000.00) and having two hundred (200) or more holders, at least of two hundred (200) of which are holding at least one hundred (100) shares of a class of its equity securities or which has sold a class of equity securities to the public pursuant to an effective registration statement in compliance with Section 12 hereof shall have at least two (2) independent directors or such independent directors shall constitute at least twenty percent (20%) of the members of such board whichever is the lesser.

Section 8325 is referred to in section 8327 of this title. § 8326. The partnership is bound to make good the loss: (1) Where one partner, acting within the scope of his apparent authority, receives money or property of a third person and misapplies it. (2) Where the partnership, in the course of its business, receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership read here. Section 5731 is referred to in section 5103 of this title. (a) General rule.--Every nonprofit corporation shall have a president, a secretary, and a treasurer, or persons who shall act as such, regardless of the name or title by which they may be designated, elected or appointed and may have such other officers and assistant officers as it may authorize from time to time , cited: home-investments.com. Arguably, some degree of public ownership, particularly if combined with private management with suitable incentives, might be a more efficient means of funding some government activities than taxation , source: http://home-investments.com/library/reformbedark-im-aktienrecht-4-deutsch-osterreichesches-symposion-zum-gesellschaftsrecht-vom-22.

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