2 drafting and execution of articles of incorporation

This preview shows page 3 - 6 out of 9 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
South-Western Federal Taxation 2020: Individual Income Taxes
The document you are viewing contains questions related to this textbook.
Chapter 20 / Exercise 1
South-Western Federal Taxation 2020: Individual Income Taxes
Young/Nellen/Hoffman
Expert Verified
2.Drafting and execution of articles of incorporation signed by the incorporators.25% 50% 75%25% of the authorized capital stock has been subscribed25% 50% 75%25% of the subscribed capital stock has been paid3.Filing of articles of incorporation with SEC.4.Payment for the filing, publication and other fees.5.Issuance of certificate of incorporation by SEC. [Start of the juridical personalityof the corporation]
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
South-Western Federal Taxation 2020: Individual Income Taxes
The document you are viewing contains questions related to this textbook.
Chapter 20 / Exercise 1
South-Western Federal Taxation 2020: Individual Income Taxes
Young/Nellen/Hoffman
Expert Verified
Contents of the Articles of Incorporation1.Name of corporation.2.Purpose of the corporation.3.Place of principal office which must be in the Philippines4.Term of existence (maximum of 50 years, may be extended)5.Names, nationalities and residences of incorporators (majority are residents of Philippines, and must be at least asubscribed of one share of stock)6.Names, nationalities and residences of board of directors or trustees7.Amount of authorized capital stock, number of shares divided, and par value of each8.Names of subscribers, nationalities, shares subscribed, amount subscribed and amount paid in. (must not belower than PHP 5,000)9.Other matters10.Name of temporary treasurer elected, notarial acknowledgement, and affidavitAmendment of Articles of IncorporationVotes required for amendment1.Majority vote of directors2.Vote or written assent of 2/3 of the outstanding capital stock or membersEffectivityUpon approval by SEC or from the date of filing with Commission if not acted within 6 monthsNon-use of corporate charter for:Two years – shall be deemed dissolved unless the same is due to causes beyond the control of the corporation asmay be determined by SEC.Continuous non-operation of corporation for:Five years – shall be grounds for revocation of its corporate franchise or certificate of incorporation, unless thesame is due to causes beyond the control of the corporation as may be determined by SEC.If any of you lacks wisdom, you should ask God,who gives generously to all without finding fault,and it will be given to you.James 1:5 (NIV)Trust in the Lord with all your heartand lean not on your own understanding;in all your ways submit to him,and he will make your paths straight.Proverbs 3:5-6 (NIV)GOD BLESS TO YOUR EXAMINATION! J
ASSOCIATION OF TAXATION & LAW STUDENTSUniversity of the East CaloocanFederation Year 2012 – 2013QUIZZER FOR THE MIDTERM DEPARTMENTAL EXAMINATIONSBL 102 – LAW ON BUSINESS ORGANIZATIONSCoverage: Civil Code of the Philippines, Article 1828 to 1867Corporation Code of the Philippines, Section 1 to 221.The contracts between a corporation and third persons must be made by or under the authority of its

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture