Foreign Corporations ............................................................................................ 193 Merger or Consolidation Involving a Foreign Corporation Licensed in the Philippines.................................................................................. 193 Doing Business Without a License...................................................................... 193 Revocation of a License......................................................................................... 195 Withdrawal of Foreign Corporations.................................................................. 197 Foreign Investments Act of 1991.......................................................................... 197 LESSON 5: Lesson 5.1: INVESTIGATIONS, OFFENSES, AND PENALTIES Investigation and Prosecution of Offenses ...............................................200 Administrative Sanctions ............................................................................ 201 Lesson 5.2: MISCELLANEOUS PROVISIONS
LESSON 2.2: SPECIAL CORPORATIONS LESSON 2.2.1: EDUCATIONAL CORPORATIONS
Board of Trustees .................................................................................168 LESSON 2.2.2: RELIGIOUS CORPORATIONS Corporation Sole................................................................................... 169 Articles of Incorporation ..................................................................... 169 Submission of the Articles of Incorporation ....................................170 Acquisition and Alienation of Property ...........................................170 Filling of Vacancies .............................................................................. 171 Dissolution ............................................................................................ 171 Religious Societies................................................................................171 LESSON 2.2.3: ONE-PERSON CORPORATION Minimum Capital Stock Not Required for One-person Corporation ..................................................................... 172 Articles of Incorporation ....................................................................172 Bylaws .................................................................................................... 173 Display of Corporate Name ................................................................ 173 Single Stockholder as Director and President.................................. 173 Nominee and Alternate Nominee .....................................................173 Treasurer, Corporate Secretary, and Other Officers .......................174 Minute Books, Records, and Reportorial Requirements ................ 175 Conversion from an Ordinary Corporation to OPC .......................176 Conversion from OPC to an Ordinary Stock Corporation............. 177 LESSON 3: DISSOLUTION OF CORPORATION Methods of Dissolution ........................................................................................180 Voluntary Dissolution Where No Creditors Are Affected ..............................180 Voluntary Dissolution Where Creditors Are Affected; Procedure and Contents of Petition ............................................................................................... 181 Dissolution by Shortening Corporate Term....................................................... 182 Withdrawal of Request and Petition for Dissolution........................................ 182 Involuntary Dissolution........................................................................................ 183 Corporate Liquidation ..........................................................................................184 LESSON 4: FOREIGN CORPORATIONS
BUSINESS LAWS AND REGULATIONS Reportorial Requirements of Corporations ..............................................204 Visitorial Power and Confidential Nature of Examination Results....... 205 Powers, Functions, and Jurisdictions of the SEC .....................................205 Development and Implementation of Electronic Filing and Monitoring System .......................................................................................208 Arbitration for Corporations ....................................................................... 208
UNIT III COOPERATIVES CHAPTER 1: PHILIPPINE COOPERATIVE CODE OF 2008 (REPUBLIC ACT NO. 9520)
Purpose ............................................................................................................................ 214 Powers .............................................................................................................................. 214 Types of Cooperatives ...................................................................................................214 Registration of Cooperatives ........................................................................................217 Membership in a Cooperative ...................................................................................... 219 General Assembly .........................................................................................................219 Board of Directors .......................................................................................................... 220 Committees of the Cooperative....................................................................................221 Liability for Damages and Secret Profits ....................................................................221 Compensation ................................................................................................................. 223 Self-dealing Directors, Officers or Committee Members ......................................... 223 Disloyalty of a Director .................................................................................................223 Illegal Use of Confidential Information ...................................................................... 224 Removal of Officers........................................................................................................ 224 Tax Treatment of Cooperatives..................................................................................... 224 Insolvency .......................................................................................................................224 Dissolution ......................................................................................................................225 Liquidation of a Cooperative ........................................................................................ 225 Source of Capital ............................................................................................................226 Investment of Capital..................................................................................................... 226 CHAPTER 2: COOPERATIVE DEVELOPMENT AUTHORITY CHARTER OF 2019 (REPUBLIC ACT NO. 11364) Powers, Functions, and Responsibilities of the Cooperative Development Authority (CDA)..................................................................................... 231 Powers and Functions of the Board of Directors ....................................................... 232 Office of the Administrator ..........................................................................................233 Registration for Tax Exemption.................................................................................... 233 Prohibition ....................................................................................................................... 233 Settlement of Disputes................................................................................................... 234 Training Standards ........................................................................................................234 Cooperatives in Different Sectors ...............................................................................235 UNIT IV NEGOTIABLE INSTRUMENTS LAW CHAPTER 1: CLASSES, PARTIES, AND REQUISITES OF NEGOTIABLE INSTRUMENTS LESSON 1: PRELIMINARY CONSIDERATIONS Concept and Classes of Negotiable Instruments .............................................. 239 General Characteristics of a Promissory Note ..................................................240 General Characteristics of a Bill of Exchange.................................................... 241 Functions and Characteristics .............................................................................242 Negotiable Instruments Compared with Other Papers ................................... 242
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Application for a License ...................................................................................... 187 Issuance of a License ............................................................................................. 190 Who May be a Resident Agent.............................................................................191 Resident Agent; Service of Process .....................................................................191 Applicable Laws ....................................................................................................192 Amendments to Articles of Incorporation or Bylaws of Foreign Corporations ............................................................................................ 193 Merger or Consolidation Involving a Foreign Corporation
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Licensed in the Philippines.................................................................................. 193 Doing Business Without a License...................................................................... 193 Revocation of a License......................................................................................... 195 Withdrawal of Foreign Corporations.................................................................. 197 Foreign Investments Act of 1991.......................................................................... 197 LESSON 5: Lesson 5.1: INVESTIGATIONS, OFFENSES, AND PENALTIES Investigation and Prosecution of Offenses ...............................................200 Administrative Sanctions ............................................................................ 201 Lesson 5.2: MISCELLANEOUS PROVISIONS Reportorial Requirements of Corporations ..............................................204 Visitorial Power and Confidential Nature of Examination Results....... 205 Powers, Functions, and Jurisdictions of the SEC .....................................205 Development and Implementation of Electronic Filing and Monitoring System .......................................................................................208 Arbitration for Corporations ....................................................................... 208 UNIT III COOPERATIVES CHAPTER 1: PHILIPPINE COOPERATIVE CODE OF 2008 (REPUBLIC ACT NO. 9520) Purpose ............................................................................................................................ 214 Powers .............................................................................................................................. 214 Types of Cooperatives ...................................................................................................214 Registration of Cooperatives ........................................................................................217 Membership in a Cooperative ...................................................................................... 219
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