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What are two special functions of the Corporate Secretary in a One Person Corporation related to the single stockholder’s status?

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What are two special functions of the Corporate Secretary in a One Person Corporation related to the single stockholder’s status? The corporate secretary in a One Person Corporation has special functions beyond typical secretarial duties related to the single stockholder’s status (SEC. 123, Revised Corporation Code of the Philippines). They are responsible for notifying the […]

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What is the purpose of designating a nominee and an alternate nominee in a One Person Corporation?

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What is the purpose of designating a nominee and an alternate nominee in a One Person Corporation? The single stockholder must designate both a nominee and an alternate nominee, and their purpose is to ensure the continuity of management (SEC. 124, Revised Corporation Code of the Philippines). These individuals shall, in the event of the

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When is a sale or disposition of corporate assets considered to cover “substantially all” of the corporate property?

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When is a sale or disposition of corporate assets considered to cover “substantially all” of the corporate property? A sale or other disposition is deemed to cover substantially all the corporate property and assets if, by that action, the corporation would be rendered incapable of continuing the business or accomplishing the purpose for which it

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