What constitutes the crime of Abuses against chastity when committed by a public officer regarding pending matters?
Public officer soliciting immoral advances from a woman interested in a pending case commits abuses against chastity.
Who is liable for Abuses against chastity related to the custody of prisoners, and what conduct is penalized?
Warden or public officer making indecent advances to a woman under custody commits Abuses against chastity.
What restrictions apply to an application for revival of corporate existence by financial intermediaries?
What restrictions apply to an application for revival of corporate existence by financial intermediaries? Certain financial intermediaries face stringent requirements when applying for the revival of their corporate existence after their term has expired (SEC. 11, Revised Corporation Code of the Philippines). Specifically, no application for revival of certificate of incorporation of banks, banking and
What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit?
What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit? Corporations vested with public interest are subject to heightened reporting requirements beyond the general annual financial statements and general information sheet (SEC. 177, Revised Corporation Code of the Philippines). These entities must submit a
How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses?
How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses? Whenever there is no person authorized to call a meeting, or the authorized person unjustly refuses to call one for any cause, the SEC may intervene (SEC. 129, Revised Corporation Code of the Philippines). Upon a
What documentation must the articles of merger or consolidation include regarding the financial status of the constituent companies?
What documentation must the articles of merger or consolidation include regarding the financial status of the constituent companies? The articles of merger or consolidation, executed after stockholder approval, must include specific financial and accounting details for each constituent corporation (SEC. 77, Revised Corporation Code of the Philippines). These articles must set forth the carrying amounts
What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers?
What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers? If a corporation, without justifiable cause, refuses or obstructs the SEC’s exercise of its visitorial powers, the SEC may impose severe sanctions (SEC. 178, Revised Corporation Code of the Philippines). Specifically, the SEC may revoke the corporation’s certificate
What is the exception to the rule that all directors must sign a written consent to validate a board action taken without a meeting?
What is the exception to the rule that all directors must sign a written consent to validate a board action taken without a meeting? Section 100 provides several exceptions for close corporations where board action taken without a meeting is still deemed valid, primarily relying on unanimous consent or implied knowledge of the directors or
What are the two specific powers and authorities granted to the SEC regarding litigation and enforcement?
What are the two specific powers and authorities granted to the SEC regarding litigation and enforcement? The SEC is granted the power and authority to issue cease and desist orders ex parte to prevent imminent fraud or injury to the public (SEC. 179, Revised Corporation Code of the Philippines). This allows for immediate regulatory action
When may an arbitration agreement be included in a corporation’s articles of incorporation or bylaws, and what types of disputes are covered?
When may an arbitration agreement be included in a corporation’s articles of incorporation or bylaws, and what types of disputes are covered? An arbitration agreement may be provided in the articles of incorporation or bylaws, but only for an unlisted corporation (SEC. 181, Revised Corporation Code of the Philippines). When such an agreement exists, disputes
