An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes
Act No. 2012, enacted on January 13, 1911, amends Section Eighteen of the Corporation Law in the Philippines. It allows corporations to amend their articles of incorporation through a majority vote of the board and two-thirds consent from members or stockholders, depending on the type of corporation. The amended articles must be certified and filed with the chief of the division of archives, patents, copyrights, and trademarks, who will charge a filing fee of ten pesos. The act clarifies that such amendments do not extend the corporation's lifespan beyond what was initially established and do not allow changes to capital stock or affect existing rights.
Quick Answers
- What is An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes about?
- Act No. 2012, enacted on January 13, 1911, amends Section Eighteen of the Corporation Law in the Philippines. It allows corporations to amend their articles of incorporation through a majority vote of the board and two-thirds consent from members or stockholders, depending on the type of corporation. The amended articles must be certified and filed with the chief of the division of archives, patents, copyrights, and trademarks, who will charge a filing fee of ten pesos. The act clarifies that such amendments do not extend the corporation's lifespan beyond what was initially established and do not allow changes to capital stock or affect existing rights.
- What type of law is Act No. 2012?
- An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes (Act No. 2012) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes enacted?
- An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes (Act No. 2012) was enacted on Jan 13, 1911.
- What is the citation for An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes?
- An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes, Act No. 2012, Jan 13, 1911 (Philippines)
Law Information
- Reference Number
- Act No. 2012
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 13, 1911
ACT NO. 2012
AN ACT TO AMEND SECTION EIGHTEEN OF ACT NUMBERED FOURTEEN HUNDRED AND FIFTY-NINE, ENTITLED "THE CORPORATION LAW," BY PROVIDING FOR THE COLLECTION OF FEES FOR FILING COPIES OF AMENDED ARTICLES OF INCORPORATION, AND FOR OTHER PURPOSES
SECTION 1. Section eighteen of Act Numbered fourteen hundred and fifty-nine, entitled "The Corporation Law," is hereby amended to read as follows:
"SEC. 18. Any corporation may amend its articles of incorporation by a majority vote of its board of directors or trustees and the vote or written assent of two-thirds of its members, if it be a nonstock corporation, or, if it be a stock corporation, by the vote or written assent of the stockholders representing at least two-thirds of the subscribed capital stock of the corporation. A copy of the articles of incorporation as amended, duly certified to be correct by the president and the secretary of the corporation and a majority of the board of directors or trustees, shall be filed in the office of the chief of the division of archives, patents, copyrights, and trade-marks of the Executive Bureau, who shall attach the same to the original articles of incorporation, on file in his office. From time of filing such copy of the amended articles of incorporation, the corporation shall have the same powers and it and the members or stockholders thereof shall thereafter be subject to the same liabilities as if such amendment had been embraced in the original articles of incorporation: Provided However, That the life of said corporation shall not be extended by said amendment beyond the time fixed in the original articles: And Provided, That the original articles and amended articles together shall contain all provisions required by law to be set out in the articles of incorporation: And Provided Further, That nothing in this section shall be construed to authorize any corporation to increase or diminish its capital stock or so as to affect any rights or actions which accrued to others between the time of filing the original articles of incorporation and the filing of the amended articles.
"The chief of the division of archieves, patents, copyrights, and trademarks shall be entitled to collect and receive the sum of ten pesos for for filing said copy of the amended articles of incorporation."
ENACTED, January 13, 1911.
Cite This Law
An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes, Act No. 2012, Jan 13, 1911 (Philippines)
An Act to Amend Section Eighteen of Act Numbered Fourteen Hundred and Fifty-Nine, Entitled "The Corporation Law," by Providing for the Collection of Fees for Filing Copies of Amended Articles of Incorporation, and for Other Purposes, Act No. 2012 (Phil. 1911)
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