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What is the procedure for voluntary dissolution when no creditors are affected?

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What is the procedure for voluntary dissolution when no creditors are affected? Voluntary dissolution where no creditors are prejudiced requires approval by a majority vote of the board of directors or trustees (SEC. 134, Revised Corporation Code of the Philippines). This must be followed by a resolution adopted by the affirmative vote of the stockholders […]

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Describe the procedure and timing for conducting a delinquency sale.

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Describe the procedure and timing for conducting a delinquency sale. The board of directors initiates a delinquency sale by resolution, which must specifically state the amount due on each subscription, including all accrued interest (SEC. 67, Revised Corporation Code of the Philippines). The resolution must also fix the date, time, and place of the sale,

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What is the procedure for a registered owner to obtain a new certificate of stock to replace one that is lost, stolen, or destroyed?

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What is the procedure for a registered owner to obtain a new certificate of stock to replace one that is lost, stolen, or destroyed? The registered owner or their legal representative must first file an affidavit in triplicate with the corporation, detailing, if possible, the circumstances of the loss, the number of shares, the serial

What is the procedure for a registered owner to obtain a new certificate of stock to replace one that is lost, stolen, or destroyed? Read More »

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