This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of Corporation Philippines In Middlesex
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Multi-State
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Middlesex
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US-00444
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– Unless otherwise prescribed by this Code or by special law, and for legitimate purposes, any provision or matter stated in the articles of incorporation may be amended by a majority vote of the board of directors or trustees and the vote or written assent of the stockholders representing at least two-thirds (2/3) of ...
By-laws Adoption. – Every corporation formed under this code, must, within one month after receipt of official notice of the issuance of its certificate of incorporation by the Securities and Exchange Commission, adopt a new code of by-laws for its government not inconsistent with this code.
The Articles of Incorporation states the name, purpose, place of office, incorporators, capital stock, and term of the Company upon its establishment. The By-Laws outline the rules on annual and special meetings, voting, quorum, notice of meeting and auditors and inspectors of election.
Corporation, dissolution: As a general rule, the corporate existence of a Philippine corporation may last up to fifty 50 years, renewable for another fifty 50 years. However, such lifetime may be shortened by a vote of 2/3 of the outstanding capital stock thereof through the process called dissolution.
A Certificate of Incorporation legitimizes its existence as a corporation and is currently operating in ance with Philippine legislation.
To be a valid authentication, the Certificate must be (1) signed by all the incorporators, and (b) in the form prescribed by the SEC as found in Annex “A” of the Circular or as may be revised hereafter. Both the AOI and the Certificate do not have to be notarized nor consularized.
Steps of the Company Incorporation Process Step 1: Reservation of Business Name with the Securities and Exchange Commission (SEC) Step 2: Submission of Documents to SEC. Step 3: Registration with Local Government Units (LGUs) of the location where you want to establish your business.
By-laws Adoption. – Every corporation formed under this code, must, within one month after receipt of official notice of the issuance of its certificate of incorporation by the Securities and Exchange Commission, adopt a new code of by-laws for its government not inconsistent with this code.
Furthermore, the names of the incorporators, the first set of directors and subscribers, the initial treasurer, their original subscription and the place and date of execution of the first Articles of Incorporation cannot be amended.
The same person may hold two or more positions concurrently, except that no one shall act as president and secretary or as president and treasurer at the same time unless otherwise allowed in this Code.