Section 21 of the Revised Corporation Code (Republic Act No. 10132) provides that if a corporation does not formally organize and commence its business within 5 years from the date of its incorporation, its certificate of incorporation shall be deemed revoked as of the day following the end of the 5-year period.
Continue reading[Definitions or characterizations provided in Republic Act No. 10173 (Data Privacy Act of 2012) and Republic Act No. 10175 (Cybercrime Prevention Act of 2012), Republic Act No. 8792 (Electronic Commerce of 2000), as well as the respective Implementing Rules and Regulations of these laws, including the Rule on Cybercrime Warrants.]
Continue readingFilipinos who lost their Philippine citizenship are generally treated as a foreigner. Natural-born Filipinos who lost their Philippine citizenship, however, retain some rights, in particular relating to the ownership of private lands in the Philippines. This is discussed below.
Continue readingFor the adoption of bylaws by the corporation, the affirmative vote of the stockholders representing at least a majority of the outstanding capital stock, or of at least a majority of the members in case of nonstock corporations, shall be necessary.
Continue readingAs provided under the Revised Corporation Code, the elected directors or trustees shall perform their duties as prescribed by law, rules of good corporate governance, and bylaws of the corporation.
Continue readingTo determine whether or not a case involves an intra-corporate dispute, two tests are applied – the relationship test and the nature of the controversy test.
Continue readingIncorporators are those stockholders/members mentioned in the articles of incorporation as originally forming and composing the corporation and who are signatories thereof. The Revised Corporation Code (Republic Act No. 11232) made significant changes in the number and qualifications of incorporators.
Continue readingA person shall be disqualified from being a director, trustee or officer of any corporation if, within five (5) years prior to the election or appointment as such, the person was:
Continue readingUnless otherwise provided in the Revised Corporation Code, the board of directors or trustees shall exercise the corporate powers, conduct all business, and control all properties of the corporation.
Continue readingAs provided in the Revised Corporation Code, the board of the following corporations vested with public interest shall have independent directors constituting at least twenty percent (20%) of such board:
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