Is the government allowed to grant titles of royalty?
The Philippine government is strictly prohibited from enacting any laws that grant titles of royalty or nobility to any person.
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Can a member of Congress appear as counsel before a court?
Senators and House members are prohibited from appearing as personal legal counsel before any court or quasi-judicial body during tenure.
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Does the law allow an applicant to file parallel applications for both a patent and a utility model for the same subject?
Applicants are prohibited from filing parallel patent and utility model applications for the same subject matter.
What is the restriction on a foreign corporation’s ability to maintain or intervene in legal actions in the Philippines without a license?
What is the restriction on a foreign corporation’s ability to maintain or intervene in legal actions in the Philippines without a license? No foreign corporation transacting business in the Philippines without a license, nor its successors or assigns, shall be permitted to maintain or intervene in any action, suit, or proceeding in any court or
What are the four types of entities that are prohibited from being incorporated as a close corporation.
What are the four types of entities that are prohibited from being incorporated as a close corporation. Although any corporation may generally be incorporated as a close corporation, several specific types of entities are explicitly excluded (SEC. 95, Revised Corporation Code of the Philippines). These prohibitions apply to mining or oil companies and stock exchanges.
What is the rule concerning the waiver of notice for stockholder or member meetings?
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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May directors or trustees attend and vote at board meetings via proxy or remote communication?
May directors or trustees attend and vote at board meetings via proxy or remote communication? Directors or trustees cannot attend or vote by proxy at board meetings, as their personal deliberation and judgment are deemed essential to the board’s function (SEC. 52, Revised Corporation Code of the Philippines). However, directors or trustees who are unable
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
Name two types of consideration that are explicitly prohibited for the issuance of shares of stock.
Name two types of consideration that are explicitly prohibited for the issuance of shares of stock. Stocks shall not be issued for a consideration less than their par or issued price, a principle known as prohibiting “watered stock” (SEC. 61, Revised Corporation Code of the Philippines). The Code then explicitly prohibits the issuance of shares
What is the restriction on donations made by foreign corporations in the Philippines?
What is the restriction on donations made by foreign corporations in the Philippines? Every corporation has the general power and capacity to make reasonable donations for the public welfare or for charitable, scientific, civic, or similar purposes (SEC. 35, Revised Corporation Code of the Philippines). However, this power is explicitly restricted for foreign corporations doing
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