Explain comprehensively the STOCKHOLDERS' OR MEMBERS' APPROVAL provided under Section 76 of Title IX-Merger and Consolidation(Partnership Revised Corporation Cooperative Law-Philippines). -include the salient points and give example

involves fundament Stockholders and creditors, there min Jaw authorizing them.2 SEC. 76. Stockholders' or Members' Approval. - Upon approval by majority vote of each of the board of directors of trustees of " constituent corporations of the plan of merger or consolidation, " same shall be submitted for approval by the stockholders or member of each of such corporations at separate corporate meetings duly called for the purpose. Notice of such meetings shall be given to a Stockholders or members of the respective corporations in the same manner as giving notice of regular or special meetings under Section do of this Code. The notice shall state the purpose of the meeting and Include a copy or a summary of the plan of merger or consolidation The affirmative vote of stockholders representing at least two. thirds (2/3) of the outstanding capital stock of each corporation in the