Delinquent Status

What happens if a corporation fails to submit reportorial requirements to the3 SEC three times?

Legal Answers /

What happens if a corporation fails to submit reportorial requirements to the3 SEC three times? If a corporation fails to submit the required reportorial documents three (3) times, consecutively or intermittently, within a period of five (5) years, the SEC may place the corporation under delinquent status (SEC. 177, Revised Corporation Code of the Philippines). […]

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

Legal Answers /

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).

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

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