corporate lawyer

When may an arbitration agreement be included in a corporation’s articles of incorporation or bylaws, and what types of disputes are covered?

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When may an arbitration agreement be included in a corporation’s articles of incorporation or bylaws, and what types of disputes are covered? An arbitration agreement may be provided in the articles of incorporation or bylaws, but only for an unlisted corporation (SEC. 181, Revised Corporation Code of the Philippines). When such an agreement exists, disputes […]

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What procedure must be followed regarding an intra-corporate court case if an arbitration agreement is discovered?

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What procedure must be followed regarding an intra-corporate court case if an arbitration agreement is discovered? If an intra-corporate dispute is filed with a Regional Trial Court, the court is mandated to take action if it determines that an arbitration agreement is written in the corporation’s articles of incorporation, bylaws, or a separate agreement (SEC.

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What is the rule concerning the primary authority over special corporations like banks and insurance companies?

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What is the rule concerning the primary authority over special corporations like banks and insurance companies? Nothing in this law shall be construed as amending existing provisions of special laws governing the registration, regulation, monitoring, and supervision of special corporations such as banks, nonbank financial institutions, and insurance companies (SEC. 183, Revised Corporation Code of

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What is the effect of the amendment or repeal of the Corporation Code on existing rights and liabilities?

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What is the effect of the amendment or repeal of the Corporation Code on existing rights and liabilities? No right or remedy in favor of or against any corporation, its stockholders, members, directors, trustees, or officers, shall be removed or impaired either by the subsequent dissolution of said corporation or by any subsequent amendment or

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What details must be included in the notice accompanying a stockholders’ meeting when the meeting is for the election of directors?

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What details must be included in the notice accompanying a stockholders’ meeting when the meeting is for the election of directors? Each notice of a stockholders’ meeting must be accompanied by several documents, including the agenda and a proxy form (SEC. 50, Revised Corporation Code of the Philippines). Specifically, when the meeting is scheduled for

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What must the minutes of the most recent regular meeting contain regarding voting procedures and results?

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What must the minutes of the most recent regular meeting contain regarding voting procedures and results? The minutes of the most recent regular meeting must be presented at the subsequent regular meeting, and they must include specific details regarding the voting process (SEC. 49, Revised Corporation Code of the Philippines). This record must contain a

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What must the articles of incorporation of a One Person Corporation state if the single stockholder is a trust or an estate?

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What must the articles of incorporation of a One Person Corporation state if the single stockholder is a trust or an estate? The Articles of Incorporation of a One Person Corporation (OPC) must comply with standard requirements but include additional specifics if the single stockholder is a trust or an estate (SEC. 118, Revised Corporation

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How are actions and decisions of a One Person Corporation recorded in the absence of corporate meetings?

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How are actions and decisions of a One Person Corporation recorded in the absence of corporate meetings? A One Person Corporation (OPC) is not required to submit and file corporate bylaws, which streamlines its organization (SEC. 119, Revised Corporation Code of the Philippines). When action is needed on any matter, it is deemed sufficient to

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When may the SEC suspend or revoke the certificate of incorporation of a corporation under its general powers?

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When may the SEC suspend or revoke the certificate of incorporation of a corporation under its general powers? The SEC is granted the general power to suspend or revoke the certificate of incorporation of any entity under its jurisdiction (SEC. 179, Revised Corporation Code of the Philippines). This drastic action can only be taken after

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What is the purpose of the fund created by the SEC’s collection of fees, fines, and other charges?

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What is the purpose of the fund created by the SEC’s collection of fees, fines, and other charges? The SEC is authorized to collect, retain, and use fees, fines, and other charges pursuant to the Code for the purpose of a more effective implementation of this Code (SEC. 175, Revised Corporation Code of the Philippines).

What is the purpose of the fund created by the SEC’s collection of fees, fines, and other charges? Read More »

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