Corporation code of the phils exercises

He must also have the financial and accounting skills of a chief financial officer, and, lastly the vision and decisiveness of the CEO.

Removal of directors or trustees. What is due process. There is demotion where there is reduction in position, rank or salary as a result of a transfer. Which is the A The consolidated or surviving corporation shall enjoy the same rights, powers, reveilles and immunities of corporations established under the corporation code B All pending actions by or against the dissolved corporation shall be litigated by the surviving or consolidated corporation.

To adopt and use a corporate seal; 4. July InfoBoard Release:: Notice of meetings shall be in writing, and the time and place thereof stated therein. My commission expires on Written notice of the proposed increase or diminution of the capital stock or of the incurring, creating, or increasing of any bonded indebtedness and of the time and place of the stockholder's meeting at which the proposed increase or diminution of the capital stock or the incurring or increasing of any bonded indebtedness is to be considered, must be addressed to each stockholder at his place of residence as shown on the books of the corporation and deposited to the addressee in the post office with postage prepaid, or served personally.

Thus, he was required to explain why he should not be administratively dealt with for disobeying the order of an officer. Disqualification of Directors The following shall be grounds for the disqualification of a director: Board Committees The Board shall constitute Committees in aid of good corporate governance.

Corporation Code of the Phils.- Exercises

See also Indophil Acrylic Manufacturing Corporation vs. Said report shall include a discussion of any disagreement with said former external auditor on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which if not resolved to the satisfaction of the former auditor, would have cause making reference to the subject matter of the disagreement in connection with its report.

Moreover, the computation thereof should only be up to the date of termination of employment. The board of directors or trustees has the following powers except A To exercise corporate powers B To conduct the business of the corporation C To grant compensation to its members D To hold and control corporate property Further, the transfer from the province to Manila was made after classes started, the employer knowing fully well that they were working students.

Whenever, for any cause, there is no person authorized to call a meeting, the Secretaries and Exchange Commission, upon petition of a stockholder or member on a showing of good cause therefor, may issue an order to the petitioning stockholder or member directing him to call a meeting of the corporation by giving proper notice required by this Code or by the by-laws.

Which of the following is not a similarity between a corporation and a partnership. It constitutes willful disobedience of a lawful order of an employer. Submission of the articles of incorporation. The articles of incorporation may include any other provision not contrary to law for the regulation of the affairs of the corporation.

Right to choose which penalty to impose. Every director must own at least one 1 share of the capital stock of the corporation of which he is a director, which share shall stand in his name on the books of the corporation. Written notice of the proposed action and of the time and place of the meeting shall be addressed to each stockholder or member at his place of residence as shown on the books of the corporation and deposited to the addressee in the post office with postage prepaid, or served personally: To make reasonable donations, including those for the public welfare or for hospital, charitable, cultural, scientific, civic, or similar purposes: Provided, That any dissenting stockholder may exercise his appraisal right under the conditions provided in this Code.

Such articles, as amended shall be indicated by underscoring the change or changes made, and a copy thereof duly certified under oath by the corporate secretary and a majority of the directors or trustees stating the fact that said amendment or amendments have been duly approved by the required vote of the stockholders or members, shall be submitted to the Securities and Exchange Commission.

Corporation Code of the Phils.- Exercises

A contract of the corporation with one or more of its directors or trustees or officers is A void B avoidable at the option of the director, trustee or officer C avoidable at the option of the corporation D unenforceable Provided, That the Commission shall give the incorporators a reasonable time within which to correct or modify the objectionable portions of the articles or amendment.

Consideration for the issuance of stock may be any or a combination of any two or more of the following: That the vote of such director or trustee was nor necessary for the approval of the contract; 3.

Keep Board authority within the powers of the institution as prescribed in the articles of incorporation, by-laws and in existing laws, rules and regulation. Which of the following does not form part of the three fold duty of directors or A Duty of obedience B Duty of efficiency C Duty of diligence D Duty of loyalty If the Corporate Secretary is not the general counsel, then he must have the legal skills of a chief legal officer.

The Supreme Court overruled his argument. Right to vote of pledgors, mortgagors, and administrators. Companies offer incentives, such as the conversion of the accumulated leave credits into their cash equivalent, to lure employees to stay with the company.

The following corporations cannot issue no par value shares. The same shall furthermore be published once a week for two 2 consecutive weeks in a newspaper of general circulation in the province or city where the principal office of the corporation is located. Such favoritism, however, has not blinded the Court to rule that justice is, in every case, for the deserving, to be dispensed in the light of the established facts and applicable law and doctrine.

The issued price of no-par value shares may be fixed in the articles of incorporation or by the board of directors pursuant to authority conferred upon it by the articles of incorporation or the by-laws, or in the absence thereof, by the stockholders representing at least a majority of the outstanding capital stock at a meeting duly called for the purpose.

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(1) First written notice. - The first written notice to be served on the employees should contain the specific causes or grounds for termination against them, and a directive that the employees are given the opportunity to submit their written explanation within a reasonable period.

University of Santo Tomas. Faculty of Civil Law LABOR LAW AND SOCIAL LEGISLATION Questions Asked More Than Once (QuAMTO ) *QUAMTO is a.

Mar 11,  · TITLE XIII: SPECIAL CORPORATIONS Chapter II - RELIGIOUS CORPORATIONS Sec. Classes of religious corporations. - Religious corporations may be incorporated by one or more persons. Such corporations may be classified into corporations sole and religious societies.

Religious corporations shall be governed by this Chapter and by the general provisions on non-stock corporations.

Philippines in the Congress assembled: CHAPTER I - This shall be known as "The Securities Regulation Code" Section 2. Declaration of State Policy. – The State shall establish a socially conscious, free market that regulates itself, encourage the widest participation the Corporation Code, the Investment Houses law, the Financing.

It exercises its powers through its board of directors Unless otherwise indicated, all references to sections pertain to The Corporation Code of the Philippines. This preview has .

Corporation code of the phils exercises
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