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Module 4, Activity 3

The document consists of a true or false activity related to corporation law, presenting ten statements about various aspects of corporate governance and regulations. Participants are instructed to determine the validity of each statement regarding corporate dissolution, meetings, by-laws, and capital stock. The statements cover topics such as the duration of corporate existence, eligibility requirements for directors, and the rules surrounding donations to political entities.

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30 views1 page

Module 4, Activity 3

The document consists of a true or false activity related to corporation law, presenting ten statements about various aspects of corporate governance and regulations. Participants are instructed to determine the validity of each statement regarding corporate dissolution, meetings, by-laws, and capital stock. The statements cover topics such as the duration of corporate existence, eligibility requirements for directors, and the rules surrounding donations to political entities.

Uploaded by

San San
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CORPORATION LAW

Activity 3

True or False. Write the word “True” if the statements is true, and the word “False” if the
statement is false.

________1. a corporation is dissolved upon the expiration of the period for which it was formed
unless the said period is extended.

________2. the number of trustees in a non-stock corporation may be more than 15.

________3. the by-laws of a non-stock corporation may validly provide that meetings of
members may be held outside the city or municipality where the principal office of the corpora-
tion is located provided that such other place must be within the Philippines.

________4. the meetings of directors may be held in or outside the Philippines, unless the by-
laws provide otherwise.

________5. a provision in the by-laws requiring that one must be the owner of more than one
share of stock to be eligible as director is valid.

________6. the shortening of the corporate existence of a corporation will result in the dissolu-
tion of the corporation upon the expiration of the shortened term.

________7. a corporation may validly donate funds to a political party or candidate provided the
amount is reasonable.

________8. an increase in capital stock requires at least 25% of the increase in capital stock must
be subscribed and at least 25% of such subscription must be paid.

________9. after dissolution, a corporation shall nevertheless continue to exist as a body corpo-
rate for 3 years not for continuing the business but for liquidating its affairs.

_______10. Consolidation is the union of two or more corporations whereby the existence of the
constituent corporations is created and a new one is terminated.

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