Atty. Victor T. Reyes
SEC Opinion • Securities and Exchange Commission • Opinions • Apr 5, 1982
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April 5, 1982 Atty. Victor T. Reyes Chamber of Corporate Secretaries of the Philippines 57 de Legaspi St. Project 4, Quezon City Dear Atty. Reyes: In connection with your letter of February 26, 1982, requesting our opinion regarding the true meaning of the phrase "Outstanding capital stock" as used in the Corporation Code of the Philippines, we hereby inform you that said Corporation Code otherwise known as Batas Pambansa Blg. 68 specifically defines "outstanding capital stock" in Title XVI, Section 137 thereof which states: SECTION 137. Outstanding capital stock defined . The term "outstanding capital stock" as used in this Code, means the total shares of stock issued to subscribers, whether or not fully or partially paid (as long as there is a binding subscription agreement), except treasury shares. (n) LibLex Please be guided accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner
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