question archive Contents of Articles of Incorporation philippine corporation only asnwer the following number
Contents of Articles of Incorporation
philippine corporation only asnwer the following number.
1. The name of the corporation;
2. The specific purpose or purposes for which the corporation is being incorporated, where a corporation has more than one stated purpose. The Articles of incorporation shall state, which is the primary purpose and which is/are the secondary purpose or purposes; provided, that a non-stock corporation may not include a purpose which would change or contradict its nature as such; 3. The place where the principal office of the corporation is to be located, which must be within the Philippines.
4. The term for which the corporation is to exist;
5. The names, nationalities and residences of the incorporators;
6. The number of directors or trustees, which shall not be less than five (5) nor more than fifteen (15);
7. The names, nationalities and residences of the persons who shall act as directors or trustees until the first regular directors or trustees are duly elected and qualified in accordance with this Codes.
8. If it be a stock corporation, the amount of its authorized capital stock in lawful money of the Philippines, the number of shares into which it is divided, and in case the shares are par value shares, the par value of each, the names, nationalities and residences of the original subscribers and the amount subscribed and paid by each on his subscription and if some or all of the shares are without par value, such fact must be stated;
9. If it be a non-stock corporation, the amount of its capital, the names, nationalities and residences of the contributors and the amount contributed by each; and
10. Such other matters are not inconsistent with law and which the incorporators may deem necessary and convenient.