LuminaTech Corporation, a corporation organized under the Revised Corporation Code, has Diego Ramos as its president and controlling stockholder. The bank Orion Bank extended PHP 28,000,000 loan to LuminaTech for a new m...
Citations: Revised Corporation Code (Republic Act No. 11232)
Orion Foods, Inc., a corporation organized under the Revised Corporation Code, issued 5,000 shares at a par value of P30. A subscriber, Maya Dizon, subscribed for 2,000 shares (P60,000 total price) and paid P20,000 on su...
Citations: Revised Corporation Code (R.A. 11232) on stock subscriptions, calls, and cancellation/forfeiture
...ck corporation named Kulay ng Sining Foundation, registered under the Revised Corporation Code as a nonprofit, provides in its Articles that net earnings shall be devoted exclusively to its arts and culture programs and...
Citations: Republic Act No. 11232 (Revised Corporation Code)
...foundation, Heritage for the Arts Foundation, is registered under the Revised Corporation Code. Its Articles require that net earnings be devoted exclusively to its programs and that no part of net earnings inure to priv...
Citations: Republic Act No. 11232 (Revised Corporation Code)
A Philippine corporation organized under the Revised Corporation Code (R.A. No. 11232), Secs. 2, 4, and 18 (hereafter, “the Corporation”) has by‑laws that set the president’s limit for entering into contracts in the ordi...
Citations: Republic Act No. 11232 (Revised Corporation Code)
...adia Corp., a Philippine corporation organized and existing under the Revised Corporation Code (RA 11232), mails notices of a stockholders’ meeting to all stockholders entitled to vote to vote on a proposed merger. Stock...
Citations: Republic Act No. 11232 (Revised Corporation Code)
Arcana Systems, Inc., a corporation organized under the Revised Corporation Code, issued 12,000 shares at a par value of P25. A subscriber, Sofia Reyes, subscribed for 3,600 shares (P90,000 total price) and paid P18,000...
Citations: Revised Corporation Code (Republic Act No. 11232)
AstraNova Corp., a corporation organized under the Revised Corporation Code, issued 6,000 shares at a par value of P50. Luz Cruz subscribed for 3,000 shares (total price P150,000) and paid P60,000 on subscription. The bo...
Citations: Revised Corporation Code of the Philippines (RA 11232)
...roraNova Shipping, Inc. is a domestic corporation organized under the Revised Corporation Code. It borrowed PHP 18,000,000 from CityBank to finance the construction of a cargo vessel, with the loan documented in the name...
Citations: Revised Corporation Code (Commonwealth Act No. 145); doctrine on separate juridical personality and veil piercing in Philippine jurisprudence
Bayanihan Arts Council, a non-stock corporation registered under the Revised Corporation Code, is organized to promote local arts. Its Articles state that net earnings shall be devoted exclusively to its programs and tha...
Citations: Republic Act No. 11232 (Revised Corporation Code) - governing non-stock corporations and fiduciary duties; no private inurement/benefit rule; dissolution and asset distribution principles.
BlazonTech Technologies, Inc., a corporation organized under the Revised Corporation Code, borrowed PHP 5,000,000 from CityBank to purchase manufacturing equipment. The loan agreement names BlazonTech as borrower. The co...
Citations: Revised Corporation Code of the Philippines (Republic Act No. 11232)
...regation, Inc., a non-stock religious corporation organized under the Revised Corporation Code, owns a church building donated by a parishioner with a donor restriction that the property be used exclusively for religious...
Citations: Revised Corporation Code (R.A. 11232), Donor restrictions and trust-like limitations in religious corporations (relevant civil and property principles)
Delta Arts Foundation, a non-stock corporation registered under the Revised Corporation Code, provides in its Articles that net earnings shall be devoted exclusively to its arts programs and that no part of net earnings...
Citations: Revised Corporation Code (R.A. 11232), Philippines, No private inurement/no private benefit doctrine for non-stock corporations (Governing principle under RCC)
Delta Holdings, Inc., a corporation organized under the Revised Corporation Code, issued 10,000 shares at a par value of P50. A subscriber, Lara D., subscribed for 4,000 shares (P200,000 total price) and paid P40,000 on...
Citations: Revised Corporation Code (R.A. 11232)
...undation, Inc., a non-stock religious corporation organized under the Revised Corporation Code, owns a church building donated by Donor Maria Villegas for exclusive religious worship and religious education. The donor im...
Citations: Republic Act No. 11232 (Revised Corporation Code), Civil Code of the Philippines (trusts and donations; use restrictions on donated property)
...Tech, Inc., a Philippine corporation organized and existing under the Revised Corporation Code (RA 11232), holds a stockholders’ meeting to approve a merger with a third party. Notice was mailed to all stockholders entit...
Citations: Revised Corporation Code (RA 11232)
Green Earth Foundation, a non-stock corporation registered under the Revised Corporation Code as a nonprofit, is organized to promote environmental education and advocacy. Its Articles provide that net earnings shall be...
Citations: Republic Act No. 11232 (Revised Corporation Code)
...na Community Foundation, a non-stock corporation registered under the Revised Corporation Code as a nonprofit, provides in its Articles that net earnings shall be devoted exclusively to its programs and that no part of n...
Citations: Republic Act No. 11232 (Revised Corporation Code)
Lumina Ventures, Inc., a corporation organized under the Revised Corporation Code, issued 7,500 shares at a par value of 25. A subscriber, Benedict Tan, subscribed for 3,000 shares (75,000 total price) and paid 25,000 on...
Citations: Republic Act No. 11232 (Revised Corporation Code)
Luna Foundation, a non-stock corporation registered under the Revised Corporation Code, provides in its Articles that net earnings shall be devoted exclusively to its arts programs and that no part of net earnings shall...
Citations: Revised Corporation Code (Republic Act No. 11232), provisions on no private inurement/no private benefit and related-party transactions, General principle: upon dissolution, assets go to other non-stock organizations with similar purposes (or to the State) in accordance with law
...g Paaralan Foundation is a non-stock corporation registered under the Revised Corporation Code. Its Articles state that net earnings shall be devoted exclusively to its educational programs and that no part of net earnin...
Citations: Revised Corporation Code, Republic Act No. 11232 (Philippines)
MetroLink Trading, Inc. is a corporation registered under the Revised Corporation Code with Eduardo Ramos as its president and sole stockholder. It borrowed Php 8,000,000 from Bank Alpha to finance a distribution center...
Citations: Republic Act No. 11232 (Revised Corporation Code)
Nebula Holdings, Inc., a corporation organized under the Revised Corporation Code, issued 9,000 shares at a par value of P40. A subscriber, Luna M., subscribed for 4,500 shares (P180,000 total price) and paid P30,000 on...
Citations: Revised Corporation Code (Republic Act No. 11232)
NovaCore Tech, Inc. is a corporation organized under the Revised Corporation Code with NovaCore Holdings, Ltd. as its controlling parent. Global Bank extended a PHP 40,000,000 loan to NovaCore Tech, Inc. for a production...
Citations: Revised Corporation Code (RA 11232)
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