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Corporation - Periods Flashcards

(63 cards)

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1
Q

Founder’s share

A

5 years

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2
Q

Dissolved corporation name cannot be used by another corporation

A

5 years

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2
Q

Amendments considered effective if the SEC fails to act

A

6 months

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2
Q

Non-use of corporate charter

A

5 years

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3
Q

Continuous nonoperation

A

5 years

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4
Q

Delinquent corporation to resume operations

A

2 year

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5
Q

Disqualification of director/trustee prior to his election

A

5 years

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6
Q

Term of BOD - Stock Corporation

A

1 year

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7
Q

Term of BOT - Non Stock Corporation

A

3 years

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8
Q

Term of BOT - non stock educational institution

A

5 years

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9
Q

Report election of BOD

A

30 days

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10
Q

Report non-holding of election

A

30 days

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11
Q

Date of new election of BOD

A

60 days

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12
Q

Report the death, resignation, or cessation of BOD

A

7 days

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13
Q

Period to fill out vacancy in other cases

A

45 days

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14
Q

Report to SEC creation of Emergency Board

A

3 days

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15
Q

Approval of SEC in increase/decrease of CS

A

6 months

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16
Q

Management contract

A

5 years

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17
Q

Notice for regular meeting of SHs

A

21 days

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18
Q

Notice for special meeting of SHs

A

1 week / 7 days

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19
Q

Notice for regular meeting of BOD

A

2 days

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20
Q

Notice for special meeting of BOD

A

2 days

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21
Q

Closing of Stock & Transfer Book for regular meetings

A

20 days

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22
Q

Closing of Stock & Transfer Book for special meetings

A

7 days

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23
Notice for postponement of regular meeting
2 weeks
24
Continuing proxy
5 years
25
Voting Trust Agreement
5 years
26
Pre-incorporation subscription cannot be revoked
6 months
27
Delinquent stock
30 days
28
Publication for dlinquency sale
2 weeks
28
Public auction - delinquency sale
not less than 30 days, not more than 60 days
29
Recovery of delinquent stock sold
6 months
30
Publication for lost, stolen or destroyed stock certificates
3 weeks
31
Issuance of new certificate if lost, stolen or destroyed
1 year
32
SEC investigation on denial of inspection of corporate books
5 days
33
Right of SH to financial statements
10 days
34
Period to exercise appraisal right
30 days
35
Notation
10 days
36
Period to appoint 3 disinterested persons in case of disagreement in FV of shares
60 days
37
Payment for the FV of shares
30 days
38
Notice to SHs: Dissolution
20 days
39
Withdrawal of request for dissolution
15 days
40
Withdrawal for petition for dissolution
15 days
40
Publication of order for petition for dissolution
once a week, 3 weeks
41
The corporation continues as a body corporate after dissolution
3 years
42
Cease and desist order
20 days
43
Final arbirtal award becomes executory
15 days
44
Updated list of members - scheduled meeting (non-stock corp)
20 days
45
Updated list of members - other meeting (non-stock corp)
21 days
46
Appointment of officers (OPC)
15 days
47
Notifce to SEC: Appointment of officers (OPC)
5 days
48
Notice to nominee: Death of the single SH (OPC)
5 days
49
Notice to SEC: Death of the single SH (OPC)
5 days
50
Annual financial statements (OPC)
120 days
51
Failure to submit reportortial requirements (OPC)
3 times, 5 years
52
Notice to SEC: Conversion of OPC to OSC
60 days
53
Transfer of shares to legal heirs (OPC)
7 days
54
Notice to SEC: Decision of legal heirs (OPC)
60 days
55
Renewal pf bond coverage if single stockholder is the treasurer
every 2 years
56
Security deposit of a foreign corporation
60 days
57
Filing of amended AOI or bylaws with SEC
60 days
58
Filing of articles of merger or consolidation
60 days
59
Publication of petition for withdrawal of license
once a week, 3 consecutive weeks

RFBT (6 decks)

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