SEC Directives on Board Meetings via Zoom: Quorum and Voting for Non-Resident Foreign Directors (Philippines)
Rules on Zoom board meetings in the Philippines: remote board meetings, quorum, and voting requirements for non-resident foreign directors.
What constitutes a quorum to do business in each House?
A majority of members in each house constitutes a quorum required to conduct official legislative business and pass various laws.
What constitutes a quorum to do business in each House? Read More »
Role of a Corporate Secretary
This article talks about the roles and qualifications of a Corporate Secretary of a Philippine Corporation.
Role of a Corporate Secretary Read More »
How to Legally Conduct Board Meetings
This article talks about how to legally conduct board meetings of directors of a corporation.
How to Legally Conduct Board Meetings Read More »
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 are the requirements for the number and term of trustees for an educational institution organized as a nonstock corporation?
What are the requirements for the number and term of trustees for an educational institution organized as a nonstock corporation? Trustees of educational institutions organized as nonstock corporations shall be not less than five (5) nor more than fifteen (15), provided that the total number of trustees must be in multiples of five (5) (SEC.
What is the required supermajority vote to amend the articles of incorporation of a close corporation when deleting certain provisions?
What is the required supermajority vote to amend the articles of incorporation of a close corporation when deleting certain provisions? Any amendment to the articles of incorporation that seeks to delete or remove any provision required by Title XII (Close Corporations), or to reduce a quorum or voting requirement previously stated in the articles, requires
What percentage of stock or membership constitutes a quorum for stockholders’ meetings?
What percentage of stock or membership constitutes a quorum for stockholders’ meetings? Unless otherwise provided in the Code or in the bylaws, a quorum for stockholders’ meetings consists of the stockholders representing a majority of the outstanding capital stock (SEC. 51, Revised Corporation Code of the Philippines). For nonstock corporations, the quorum consists of a
What percentage of stock or membership constitutes a quorum for stockholders’ meetings? Read More »
What majority vote is required for the board of directors to transact corporate business, and what is the exception?
What majority vote is required for the board of directors to transact corporate business, and what is the exception? To transact corporate business, a quorum must first be established, which generally consists of a majority of the directors or trustees as stated in the articles of incorporation (SEC. 52, Revised Corporation Code of the Philippines).
How is a vacancy in the board of directors filled, excluding removal or expiration of term?
How is a vacancy in the board of directors filled, excluding removal or expiration of term? A vacancy occurring in the board of directors or trustees due to reasons other than removal or expiration of term may be filled by a vote of at least a majority of the remaining directors or trustees, provided they
