Please help me to (explain) this topic. (Detailed, easy and brief explanation)

Requirements:

Provide an (explanation) for every bullet.

CORPORATE TERM Another signification amendment is on the corporate term which now allows perpetual existence under Section 11 of the Revised Corporation Code. Section 11 provides that a corporation shall have perpetual existence unless its articles of incorporation amides otherwise. Corporations with certicates of incorporation issued prior to the effectivity of this Code, and which continue to exist, shall have perpetual existence, unless the corporation, upon a vote of its stockholders representing a majority of its outstanding capital stock, notifies SEC that it elects to retain its specic corporate term pursuant to its articles of incorporation: Provided, That any change in the corporate term under this section is without prejudice to the appraisal right of dissenting stockholders in accordance with the provisions of this Code. A corporate term fora specific period may be extended or shortened by amending the articles of incorporation: Provide d, E no extension mayI be made earlier than three (3] years prior to the original or subsequent expiry datets} unless there are justifiable reasons for an earlier extension as may be determined by the SEC: Provided, further, That such extension of the corporate term shall take effect only on the dayI following the original or subsequent expiry datets]. Section 11 further allows revival of corporations whose corporate term has expired. It states that a corporation whose term has expired may apply for a revival of its corporate existence, together with all the rights and privileges under its certificate of incorporation and subject to all of its duties, debts and liabilities existing prior to its revival. Upon approval by the SEC, the corporation shall be deemed revived and a certicate of revival of corporate existence shall be issued, giving it perpetual existence, unless its application for revival provides otherwise. No application for revival of certificate of incorporation of banks, banking and quasi banking institutions, preneed, insurance and trust companies, nonstock savings and loan associations {NSSLAsL pawnshops, corporations engaged in moneyI service business, and other financial intermediaries shall be approved by the SEC unless accompanied by a favorable recommendation of the appropriate government agency. MINIMUM CAPITAL STOCK NOT REQUIRED IN STOCK CORPORATIONS Also another signicant amendment under the Code is that now, stock corporations shall not be required to have minimum capital stock, except as otherwise specially provided by special law. Further, there is no minimum requirement on the amount of shares to be subscribed and paid up by the incorporators during the incorporation. Section 13 of the old Corporation Code was deleted