Corporate Powers

What is the restriction on donations made by foreign corporations in the Philippines?

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What is the restriction on donations made by foreign corporations in the Philippines? Every corporation has the general power and capacity to make reasonable donations for the public welfare or for charitable, scientific, civic, or similar purposes (SEC. 35, Revised Corporation Code of the Philippines). However, this power is explicitly restricted for foreign corporations doing […]

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What right is accorded to a stockholder who dissents from the sale or disposition of substantially all corporate assets?

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What right is accorded to a stockholder who dissents from the sale or disposition of substantially all corporate assets? A stockholder who dissents from the resolution approving the sale or disposition of substantially all corporate assets is granted the right of appraisal (SEC. 39, Revised Corporation Code of the Philippines). This allows the dissenting stockholder

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What are the fundamental roles and responsibilities of the board of directors or trustees?

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What are the fundamental roles and responsibilities of the board of directors or trustees? The board of directors or trustees is vested with the power to exercise the corporate powers, which are the fundamental legal capabilities of the entity (SEC. 22, Revised Corporation Code of the Philippines). The board is also responsible for conducting all

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