shares

What fundamental right must always be retained by at least one class of shares?

Legal Answers /

What fundamental right must always be retained by at least one class of shares? While certain shares, such as preferred or redeemable shares, may be deprived of voting rights, the Code mandates that there shall always be a class or series of shares with complete voting rights (SEC. 6, Revised Corporation Code of the Philippines). […]

What fundamental right must always be retained by at least one class of shares? Read More »

On which fundamental corporate matters must nonvoting shares be entitled to vote?

Legal Answers /

On which fundamental corporate matters must nonvoting shares be entitled to vote? Holders of nonvoting shares are granted the statutory right to vote on several fundamental corporate matters crucial to their economic interests (SEC. 6, Revised Corporation Code of the Philippines). These include the amendment of the articles of incorporation and the adoption or amendment

On which fundamental corporate matters must nonvoting shares be entitled to vote? Read More »

Which specific financial corporations are prohibited from issuing no-par value shares?

Legal Answers /

Which specific financial corporations are prohibited from issuing no-par value shares? The issuance of no-par value shares is strictly prohibited for several types of financial and public interest corporations (SEC. 6, Revised Corporation Code of the Philippines). Specifically, banks, trust, insurance, and preneed companies, along with public utilities and building and loan associations, cannot issue

Which specific financial corporations are prohibited from issuing no-par value shares? Read More »

What is the minimum consideration and accounting treatment for no-par value shares?

Legal Answers /

What is the minimum consideration and accounting treatment for no-par value shares? No-par value shares must be issued for a consideration of at least Five pesos (P5.00) per share (SEC. 6, Revised Corporation Code of the Philippines). This minimum consideration serves as a statutory floor for their issuance price. Crucially, the entire consideration received by

What is the minimum consideration and accounting treatment for no-par value shares? Read More »

What are the two primary classes of corporations recognized by the Code?

Legal Answers /

What are the two primary classes of corporations recognized by the Code? Corporations formed under this Code are broadly classified into either stock or nonstock corporations (SEC. 3, Revised Corporation Code of the Philippines). Stock corporations are uniquely characterized by having capital stock divided into shares, representing ownership interests. They are authorized to distribute dividends

What are the two primary classes of corporations recognized by the Code? Read More »

Contact us Now!

CONTACT FORM

    ABOUT THE FIRM

    A full-service law firm dedicated to delivering a broad range of quality legal services which large firms are able to deliver but with the personal touch which only small firms can provide. We are located at the bustling Ortigas Central Business District in Pasig City, Metro Manila, Philippines.

    CONTACT US

    OUR PRACTICE AREAS

    OFFICE HOURS

    • Monday 8:30AM - 5:30PM
    • Tuesday 8:30AM - 5:30PM
    • Wednesday 8:30AM - 5:30PM
    • Thursday 8:30AM - 5:30PM
    • Friday 8:30AM - 5:30PM
    • Saturday Closed - Closed
    • Sunday Closed - Closed