Statutes have been enacted in various jurisdictions setting forth requirements as to the form and manner of execution of the constitution or articles of association, and the bylaws, of an association or club. If the drafter does not comply with such formalities, the documents may not be accepted for filing by the designated public officer, and the existence of the association or club as a legal entity will not be recognized. In some jurisdictions, the constitution or articles of association, and the bylaws, must be executed properly. Execution generally implies the signing of the instruments by the proper officers or other parties, in conformity to the requirements of the governing statute.
Statutes in some jurisdictions require that the constitution or articles of association, and the bylaws, be acknowledged or verified. In some jurisdictions, it is required by statute that the constitution or articles of association be recorded, particularly where the association or club owns real property or any interest in real property.
Articles Of Incorporation And Bylaws For Non-stock Corporation Sample
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US-02824BG
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FAQ
To register a non-stock, non-profit corporation, you need to have the following to start with: At least five (5) incorporators, majority of them must be residents in the Philippines; Complete address of each incorporator; BIR Tax identification number (TIN) of each incorporator;
stock, forprofit corporation may be formed for a single, shortterm purpose or a specific transaction. A good example would be the corporation is used to build an office building or condominiums.
Unlike a stock corporation that issues shares of stock to investors who then become "owners" and are entitled to share in the corporation's profits, a nonstock corporation does not have any shareholders or "owners."
A stock corporation has authorized capital stock divided into shares of stock either with or without par value. It's engaged in income-generating activities and authorized to declare dividends. A non-stock corporation has no authorized capital stock.
Non-stock corporations or foundations in the Philippines may be formed for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, such as trade, industry, agricultural and like chambers, or any combination thereof.