Flashcards Studio

An applicant, HelixCipher Innovations, Inc., files its Articles of Incorporation with the SEC under RA 11232. The document lists the corporate name HelixCipher Innovations, Inc.; purpose to design and develop cybersecurity solutions; principal office in Makati City; term 50 years; four incorporators with addresses; the number of directors is not stated; the initial directors are named; capital stock ₱40,000,000, par ₱100; 400,000 shares; schedule of subscribers shows four subscribers owning all shares. The SEC refuses registration for lack of an essential item (the number of directors is not stated). Based on the doctrine in John Gokongwei, Jr. v. SEC (G.R. No. L-45911, April 11, 1979), what is the likely effect on the corporation’s legal personality and what remedies are available to cure the deficiency?