Incorporation of Professional, Civic or Other Non-Profit or Non-Stock Organizations
Republic Act No. 3634, enacted on June 22, 1963, amends the Corporation Law to allow professional, civic, or other non-profit organizations that have been in existence for at least fifteen years to incorporate as non-stock or non-profit corporations. To do so, they must secure written consent from two-thirds of their voting members at a specially called meeting and file their articles of incorporation with the Securities and Exchange Commission. The articles must specify the organization's nature, the location of its principal office in the Philippines, and the board members' names and addresses. Once incorporated, these organizations can govern themselves according to their own constitution and by-laws while enjoying the same privileges and obligations as other corporations, except where there are inconsistencies. The Act took effect upon approval.
Law Information
- Reference Number
- Republic Act No. 3634
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1963
REPUBLIC ACT NO. 3634
AN ACT PROVIDING FOR THE INCORPORATION OF PROFESSIONAL, CIVIC, OR OTHER NON-PROFIT OR NON-STOCK ORGANIZATIONS, AMENDING FOR THE PURPOSE THE CORPORATION LAW
SECTION 1. Act Numbered Fourteen hundred fifty-nine, as amended, otherwise known as the Corporation Law, is further amended by inserting between Sections seventy-four and seventy-five thereof a new section which shall read as follows:
"SEC. 74. Any professional, civil or other non-profit or non-stock organization in existence for fifteen years may, upon the written consent of two-thirds of the membership entitled to vote at a meeting called for the purpose, incorporate itself as a non-stock or non-profit corporation by filing with the Securities and Exchange Commission articles of incorporation verified by affidavit or affirmation of its president or secretary, setting forth the following: casia
"(1) That it is a professional, civic or any other non-profit on non-stock corporation;
"(2) That two-thirds of its membership have given their written consent or have voted to incorporate at a meeting held for the purpose;
"(3) The place where the principal office of the corporation is to established and located, which place must be within the Philippines;
"(4) The names and addresses of the members of the board.
"Such corporation shall be entitled to continue its internal government under the terms and conditions of its constitution and by-laws, and to have all the privileges and obligations of other corporations established under this Act, except insofar as inconsistent with the provisions of its constitution and by-laws." casia
SECTION 2. This Act shall take effect upon its approval.
Approved: June 22, 1963
Published in the Official Gazette, Vol. 59, No. 39, p. 6613 on September 30, 1963
Cite This Law
Incorporation of Professional, Civic or Other Non-Profit or Non-Stock Organizations, Republic Act No. 3634, Jun 22, 1963 (Philippines)
Incorporation of Professional, Civic or Other Non-Profit or Non-Stock Organizations, Republic Act No. 3634 (Phil. 1963)
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