What are two special functions of the Corporate Secretary in a One Person Corporation related to the single stockholder’s status?
The corporate secretary in a One Person Corporation has special functions beyond typical secretarial duties related to the single stockholder’s status (SEC. 123, Revised Corporation Code of the Philippines). They are responsible for notifying the nominee or alternate nominee of the death or incapacity of the single stockholder no later than five (5) days from such occurrence. The secretary must also notify the SEC of the death of the single stockholder within five (5) days, stating the names, residence addresses, and contact details of all known legal heirs. This rapid notification ensures a mechanism is immediately activated to manage the corporation’s affairs in the absence of its owner. The secretary is prohibited from being the single stockholder.
30 October 2025
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