Question
REINFORCEMENT ACTIVITY: Make an Article of Incorporation - with own ideas and objectives, which must conform to Sec. 14 ( Contents of Articles of Incorporation
REINFORCEMENT ACTIVITY: Make an Article of Incorporation - with own ideas and objectives, which must conform to Sec. 14 (Contents of Articles of Incorporation.) and 15 (Forms of Articles of Incorporation.) of the Corporation Code of the Philippines.
ARTICLES OF INCORPORATION OF __________________________ (Name of Corporation) KNOW ALL MEN BY THESE PRESENTS: The undersigned incorporators, all of legal age and a majority of whom are residents of the Philippines, have this day voluntarily agreed to form a (stock) (non-stock) corporation under the laws of the Republic of the Philippines; AND WE HEREBY CERTIFY: FIRST: That the name of said corporation shall be "_____________________, INC. or CORPORATION";
SECOND: That the purpose or purposes for which such corporation is incorporated are: (If there is more than one purpose, indicate primary and secondary purposes);
THIRD: That the principal office of the corporation is located in the City/Municipality of ________________________, Province of _______________________, Philippines;
FOURTH: That the term for which the said corporation is to exist is ___________ years from and after the date of issuance of the certificate of incorporation;
FIFTH: That the names, nationalities and residences of the incorporators of the corporation are as follows:
NAME NATIONALITY RESIDENCE
___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________
SIXTH: That the number of directors or trustees of the corporation shall be _______; and the names, nationalities and residences of the first directors or trustees of the corporation are as follows:
NAME NATIONALITY RESIDENCE
___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________ ___________________
SEVENTH: That the authorized capital stock of the corporation is ______________________ (P___________) PESOS in lawful money of the Philippines, divided into __________ shares with the par value of _________________ (P_____________) Pesos per share.
(In case all the shares are without par value): That the capital stock of the corporation is ______________ shares without par value. (In case some shares have par value and some are without par value): That the capital stock of said corporation consists of _____________ shares of which ______________ shares are of the par value of _________________ (P____________) pesos each, and of which _____________ shares are without par value.
EIGHTH: That at least twenty-five (25%) percent of the authorized capital stock above stated has been subscribed as follows:
No. of Shares Amount Name of Subscriber Nationality Subscribed Subscribed _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________
NINTH: That the above-named subscribers have paid at least twenty- five (25%) percent of the total subscription as follows:
No. of Shares Amount Name of Subscriber Nationality Subscribed Subscribed _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________ _________________ ____________ ____________ ____________
(Modify Nos. 8 and 9 if shares are with no par value. In case the corporation is non-stock, Nos. 7, 8 and 9 of the above articles may be modified accordingly, and it is sufficient if the articles state the amount of capital or money contributed or donated by specified persons, stating the names, nationalities and residences of the contributors or donors and the respective amount given by each.)
TENTH: That _____________________ has been elected by the subscribers as Treasurer of the Corporation to act as such until his successor is duly elected and qualified in accordance with the by-laws, and that as such Treasurer, he has been authorized to receive for and in the name and for the benefit of the corporation, all subscription (or fees) or contributions or donations paid or given by the subscribers or members.
ELEVENTH: (Corporations which will engage in any business or activity reserved for Filipino citizens shall provide the following): "No transfer of stock or interest which will reduce the ownership of Filipino citizens to less than the required percentage of the capital stock as provided by existing laws shall be allowed or permitted to be recorded in the proper books of the corporation and this restriction shall be indicated in all the stock certificates issued by the corporation."
IN WITNESS WHEREOF, we have hereunto signed these Articles of Incorporation, this _______ day of ______________, 19____, in the City/Municipality of __________________, Province of ___________________, Republic of the Philippines.
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