Under what conditions may a corporation whose term has expired apply for revival?

Under what conditions may a corporation whose term has expired apply for revival? A corporation whose specific term has expired may apply for the revival of its corporate existence, subject to fulfilling existing duties, debts, and liabilities prior to revival (SEC. 11, Revised Corporation Code of the Philippines). Upon the SEC’s approval, the corporation is […]

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Under what conditions is a corporate name considered not distinguishable from an existing name?

Under what conditions is a corporate name considered not distinguishable from an existing name? A corporate name is considered not distinguishable if it contains generic additions such as the word “corporation”, “company”, “incorporated”, “limited”, “limited liability”, or an abbreviation of one of such words (SEC. 17, Revised Corporation Code of the Philippines). Similarly, a name

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What procedure is followed if a corporation commences business but becomes continuously inoperative?

What procedure is followed if a corporation commences business but becomes continuously inoperative? If a corporation has commenced its business but subsequently becomes inoperative for a period of at least five (5) consecutive years, the SEC may place it under delinquent status after due notice and hearing (SEC. 21, Revised Corporation Code of the Philippines).

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