Exemption

When is stockholder approval not necessary for a corporation to invest its funds in another business?

Legal Answers /

When is stockholder approval not necessary for a corporation to invest its funds in another business? Generally, a private corporation must obtain approval from a majority of the board and ratification by two-thirds (2/3) of the outstanding capital stock before investing funds in another business or for any purpose other than its primary purpose (SEC. […]

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What is the requirement regarding minimum capital stock for stock corporations?

Legal Answers /

What is the requirement regarding minimum capital stock for stock corporations? Stock corporations are generally not required to have a minimum capital stock (SEC. 12, Revised Corporation Code of the Philippines). This provision liberalizes the capital requirements for most industries, making incorporation more accessible. However, this general rule has an explicit exception: a minimum capital

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