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    Mercantile - Law - BarQA - 2009-2017 8-8

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    junaisa
    The document discusses the dissolution and liquidation of corporations including voluntary and involuntary dissolution modes and liquidation methods. It also covers other topics related to corporations such as close corporations and foreign corporations.

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    Mercantile - Law - BarQA - 2009-2017 8-8

    Uploaded by

    junaisa
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    The document discusses the dissolution and liquidation of corporations including voluntary and involuntary dissolution modes and liquidation methods. It also covers other topics related to corporations such as close corporations and foreign corporations.

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    Mercantile_Law_BarQA_2009-2017 8-8

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    The document discusses the dissolution and liquidation of corporations including voluntary and involuntary dissolution modes and liquidation methods. It also covers other topics related to corporations such as close corporations and foreign corporations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    20 views1 page

    Mercantile - Law - BarQA - 2009-2017 8-8

    Uploaded by

    junaisa
    The document discusses the dissolution and liquidation of corporations including voluntary and involuntary dissolution modes and liquidation methods. It also covers other topics related to corporations such as close corporations and foreign corporations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    7. Disposition and Encumbrance of Shares ................................................................

    341
    a. Allowable Restrictions on the Sale of Shares
    b. Sale of Partially Paid Shares
    c. Sale of a Portion of Shares Not Fully Paid
    d. Sale of All of Shares Not Fully Paid
    e. Sale of Fully Paid Shares
    f. Requisites of a Valid Transfer
    g. Involuntary Dealings with Shares
    J. Dissolution and Liquidation ........................................................................................... 344
    1. Modes of Dissolution .............................................................................................. 345
    a. Voluntary ....................................................................................................................... 346
    i. Where No Creditors Are Affected
    ii. Where Creditors Are Affected
    iii. By Shortening of Corporate Term
    b. Involuntary ....................................................................................................... 346
    i. By Expiration of Corporate Term
    ii. Failure to Organize and Commence Business Within 2 Years from
    Incorporation
    iii. Legislative Dissolution
    iv. Dissolution by the SEC on Grounds under Existing Laws
    2. Methods of Liquidation ........................................................................................... 347
    a. By the Corporation Itself
    b. Conveyance to a Trustee within a Three-Year Period
    c. By Management Committee or Rehabilitation Receiver
    d. Liquidation after Three Years
    K. Other Corporations ...................................................................................................... 349
    1. Close Corporations................................................................................................. 349
    a. Characteristics of a Close Corporation
    b. Validity of Restrictions on Transfer of Shares
    c. Issuance or Transfer of Stock in Breach of Qualifying Conditions
    d. When Board Meeting is Unnecessary or Improperly Held
    e. Pre-Emptive Right
    f. Amendment of Articles of Incorporation
    g. Deadlocks
    2. Non-Stock Corporations ......................................................................................... 351
    a. Definition
    b. Purposes
    c. Treatment of Profits
    d. Distribution of Assets upon Dissolution
    3. Religious Corporations - Exclude ............................................................................ 353
    4. Foreign Corporations .............................................................................................. 354
    a. Bases of Authority over Foreign Corporations ................................................... 354
    i. Consent
    ii. Doctrine of “Doing Business” (related to definition under the Foreign
    Investments Act, R.A. No. 7042)
    b. Necessity of a License to Do Business.............................................................. 356
    i. Requisites for Issuance of a License
    ii. Resident Agent

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