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Bus Org II Assignment 03252020
Bus Org II Assignment 03252020
A. Articles of Incorporation
2. The authorized capital stock of Covid Corporation is One Hundred Million Pesos
(P100,000,000.00), divided into One Hundred Million (100,000,000) common
shares with a par value of One Peso (P1.00) per share pursuant to the SEVENTH
Provision of its Articles of Incorporation.
b. Meanwhile, of the subscribed shares, only Six Million Two Hundred Fifty
Thousand Pesos (P6,250,000.00) have been paid up.
c. Draft Subscription Agreement for the Two Subscribers (See Annexes A and B)
B. By Laws
a. Registration with Local Government Units (LGUs) of the location where they
want to establish their business;
b. Registration with the Bureau of Internal Revenue (BIR) for corporate taxation;
c. Registration with other Government Agencies (for employer registration if
they are employing individuals): e.g. SSS, PhilHealth, Pag-ibig Fund
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2. Based on Article III, Section 2 of its By Laws, the Annual Stockholders Meeting of
Covid Corporation shall be held on the fourth Monday of March of each year at
such time as the Board of Directors may determine.
3. The requirement in order that a board meeting is held shall be the presence of at
least two (2) directors of the Corporation, which shall constitute a quorum in
accordance with Article IV, Section 4 of its By Laws. Further, such presence may
not be necessarily actual as Article IV, Section 11 thereof provides for
teleconferencing, videoconferencing, or other modes of conducting a meeting in
accordance with the relevant guidelines or regulations of the Securities and
Exchange Commission.
4. Draft Notice of Meeting for the Directors of Covid Corporation (See Annex D)
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