stock corporation

What are the requirements for natural persons organizing a corporation regarding their number and qualifications?

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What are the requirements for natural persons organizing a corporation regarding their number and qualifications? A corporation may be organized by any person, partnership, association, or corporation, provided the total number of incorporators is not more than fifteen (15) (SEC. 10, Revised Corporation Code of the Philippines). If the incorporators are natural persons, they must […]

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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

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