Notice

What is the rule concerning the waiver of notice for stockholder or member meetings?

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What is the rule concerning the waiver of notice for stockholder or member meetings? Notice of any meeting may be waived by any stockholder or member, either expressly or impliedly, such as by attending the meeting without immediately objecting (SEC. 49, Revised Corporation Code of the Philippines). However, the Code explicitly states that general waivers […]

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Where must stockholders’ or members’ meetings be held?

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Where must stockholders’ or members’ meetings be held? Stockholders’ or members’ meetings, whether regular or special, must generally be held in the principal office of the corporation as designated in the articles of incorporation (SEC. 50, Revised Corporation Code of the Philippines). If holding the meeting there is not practicable due to space or other

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What are the requirements and voting threshold for a private corporation to extend or shorten its corporate term?

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What are the requirements and voting threshold for a private corporation to extend or shorten its corporate term? A private corporation may extend or shorten its term as stated in the articles of incorporation only when the action is approved by a majority vote of the board of directors or trustees (SEC. 36, Revised Corporation

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What are the requirements and vote for a corporation to increase or decrease its capital stock?

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What are the requirements and vote for a corporation to increase or decrease its capital stock? Any action to increase or decrease the capital stock or to incur, create, or increase any bonded indebtedness must be approved by a majority vote of the board of directors (SEC. 37, Revised Corporation Code of the Philippines). This

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What is the required procedure and vote for the removal of a director or trustee by stockholders or members?

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What is the required procedure and vote for the removal of a director or trustee by stockholders or members? Any director or trustee may be removed from office by a vote of the stockholders holding or representing at least two-thirds (2/3) of the outstanding capital stock, or two-thirds (2/3) of the members entitled to vote

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