What are the term lengths and qualification requirements for directors and trustees?
Directors in a stock corporation are elected for a fixed term of one (1) year and must be holders of stocks registered in the corporation’s books (SEC. 22, Revised Corporation Code of the Philippines). Trustees in a nonstock corporation are elected for a term not exceeding three (3) years from among the members of the corporation. Each director or trustee holds office until a qualified successor is elected and assumes office. A director who ceases to own at least one (1) share of stock, or a trustee who ceases to be a member, automatically ceases to hold their respective office.
02 November 2025
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Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
