Corpo Law

An Act Providing for the Revised Corporation Code of the Philippines

• Republic Act 11143

• Republic Act 11232

• Republic Act 11223

• Republic Act 11214

Defined as an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incidental to its existence.

A type of corporation which have capital stock divided into shares and are authorized to distribute to the holders of such shares, dividends, or allotments of the surplus profits on the basis of the shares held.

• Sole Corporation

• Stock Corporation

• Non-Stock Corporation

• Capital Corporation

Corporations created by special laws or charters shall NOT be governed primarily by the provisions of the special law or charter creating them or applicable to them, NOT supplemented by the provisions of the Revised Corporation Code, insofar as they are applicable.

• True

• False

STATEMENT 1: Incorporators are those who compose a corporation, whether as stockholders or shareholders in a stock corporation or as a members in a nonstock corporations.

STATEMENT 2: Corporators are those stockholders or members mentioned in the articles of incorporation as originally forming and composing the corporation and who are signatories thereof

• FALSE, TRUE

• TRUE, FALSE

• FALSE, FALSE

• TRUE, TRUE

STATEMENT 1: The classification of shares, their corresponding rights, privileges, restrictions, and their stated par value, if any, must be indicated in the articles of incorporations.

STATEMENT 2: The share stock corporations may be divided into classes or series of shares, or both.

• TRUE, FALSE

• TRUE, TRUE

• FALSE, FALSE

• FALSE, TRUE

A kind of stock issued by a corporation may be given preference in the distribution of dividends and in the distribution of corporate assets in case of liquidation, or such other preferences.

• Voting Stock

• Preferred Stock

• Thumb Stock

• Common Stock

A share of stock which has been issued and fully paid for, but subsequently reacquired by the issuing corporation through purchase, redemption, donation, or some other lawful means. Such shares may again be disposed of for a reasonable price fixed by the board of directors.

• Treasury Shares

• Redeemable Shares

• Founders' Share

• Answer pa-share

Shares which may be purchased by the corporation from the holders of such shares upon the expiration of a fixed period, regardless of the existence of unrestricted retained earnings in the books of the corporation, and upon such other terms and conditions stated in the articles of incorporation and the certificate of stock representing the shares, subject to rules and regulations

• Treasury Shares

• Redeemable Shares

• Founders' Share

• Share me your food

Shares which may be given certain rights and privileges not enjoyed by the owners of other stock. Where the exclusive right to vote and be voted for in the election of directors is granted, it must be for a limited period not to exceed five (5) years from the date of incorporation.

• Treasury Shares

• Redeemable Shares

• Founders' Share

• I care, I share