Which statement about corporate stockholders or members meetings is true?

• A. It is always held on any day of April each year.
• B. It can be conducted anywhere in the Philippines.
• C. It may be attended by means of proxy.
• D. It cannot be called on a special basis.

Answer: (C)

The important idea here is that stockholders’ or members’ meetings can be attended by proxy, allowing someone to vote on behalf of a shareholder who cannot be present. A proxy is a written authorization designating a person to attend the meeting and vote according to the shareholder’s instructions (or as allowed by the proxy). This arrangement ensures that ownership rights are exercised even when the owner isn’t there in person, which is essential for broad participation and timely governance, especially when shareholders are dispersed.

The other statements don’t hold universally. There isn’t a fixed rule that a meeting must be held on a specific day in April. The meeting can be scheduled as annual or special and at a location allowed by the company’s by-laws, which gives flexibility about where the gathering takes place. And contrary to the statement about special meetings, such meetings can indeed be called when warranted, not prohibited.

So, the statement that it may be attended by means of proxy is the true and most accurate reflection of how these meetings are commonly conducted.