What is the penalty for those responsible for the formation of a corporation through fraud?

What is the penalty for those responsible for the formation of a corporation through fraud? Those responsible for the formation of a corporation through fraud, or who assisted directly or indirectly therein, shall be punished with a fine ranging from Two hundred thousand pesos (P200,000.00) to Two million pesos (P2,000,000.00) (SEC. 164, Revised Corporation Code

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What are the four grounds upon which the SEC may dissolve a corporation involuntarily?

What are the four grounds upon which the SEC may dissolve a corporation involuntarily? A corporation may be dissolved involuntarily by the SEC motu proprio or upon the filing of a verified complaint by any interested party (SEC. 138, Revised Corporation Code of the Philippines). Grounds for dissolution include the non-use of the corporate charter

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What specific unlawful purposes are prohibited for entering into a voting trust agreement?

What specific unlawful purposes are prohibited for entering into a voting trust agreement? No voting trust agreement shall be entered into for the purposes of circumventing the laws against anti-competitive agreements, abuse of dominant position, or anti-competitive mergers and acquisitions (SEC. 58, Revised Corporation Code of the Philippines). Furthermore, voting trusts are prohibited if their

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