What must legal heirs do within sixty (60) days after the transfer of shares following the death of an OPC’s single stockholder?
In the event of the death of the single stockholder, the nominee or alternate nominee must transfer the shares to the designated legal heir or estate within seven (7) days of receiving the legal declaration of heirship (SEC. 132, Revised Corporation Code of the Philippines). Following this transfer, the legal heirs are mandated to notify the SEC of their decision to either wind up and dissolve the One Person Corporation or convert it into an ordinary stock corporation within sixty (60) days from the transfer. If converted, the new ordinary stock corporation succeeds the OPC and assumes legal responsibility for all its outstanding liabilities as of the date of conversion. This process ensures a swift transition or winding up upon the owner’s death.
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/.
