What is the purpose of designating a nominee and an alternate nominee in a One Person Corporation?
The single stockholder must designate both a nominee and an alternate nominee, and their purpose is to ensure the continuity of management (SEC. 124, Revised Corporation Code of the Philippines). These individuals shall, in the event of the single stockholder’s death or incapacity, take the place of the single stockholder as director and manage the corporation’s affairs. The articles of incorporation must explicitly state their names, addresses, and the extent and limitations of their authority in managing the OPC. The written consent of both the nominee and alternate nominee must be attached to the application for incorporation, though this consent may be withdrawn in writing at any time before the stockholder’s death or incapacity.
31 October 2025
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