REPUBLIC ACT NO.
11232: Revised Corporation Code
2 days Notice to regular/special meeting of BOARD
3 days Notifying SEC from creation of emergency board
SEC conducts investigation upon denial of a corp. to a party from
5 days
inspection/reproduction of corporate records from receipt of report
Notice for SH/M special meeting
Report of a D/T/O of his death/resignation to SEC by secretary or his
7 days
respective heirs in case of death in writing
Closing of stock and transfer book before special SH/M meeting
10 days Furnish SH/M its most recent FS from receipt of written request
Submission of withdrawal of dissolution from SEC receipt of corp’s
15 days
dissolution
Closing of stock and transfer book before regular SH/M meeting
Period dissenting stockholder submits certificate of stocks after
20 days demanding payment for shares held; failure to do so, his rights be
terminated at option of corp.
Notice of meeting for corporate dissolution approval
21 days Notice for SH/M regular meeting
Submission to SEC of details of elected D/T/O after election
30 days Report to SEC non-holding of elections from date of scheduled election
Payment of subscription with interest until it becomes delinquent
45 days Period to fill vacancy in board other than term expiration and removal
30-60 d Decision by BOD to sell delinquent stocks or not
60 days Specifying new date for election from date of scheduled election date
Effectivity of AOI amendment if not acted upon by SEC
Application in increasing/decreasing share capital OR
incurring/increasing bonded indebtedness from approval w/c maybe
6 months extended for justifiable reasons
Irrevocability of shares subscription in a corporation still to be formed
Period when delinquency sale may be questioned, and complaint may
be filed
Period to resume operations after it commenced business but
2 years subsequently became inoperative, or COI be revoked; from being
placed as delinquent status
Extension of corporate term prior original/subsequent expiry date
Corporate liquidation period, after effective date of dissolution, in w/c
3 years
upon expiration, juridical personality of corp. ceases & it can no
longer sue & be sued
Founder’s share exclusive right to vote and be voted for
Period for proxy validity and effectivity at any one time
Max period where mgt contract can be entered into for any (1) term
5 years
Period a person may be disqualified from being D/T/O prior to election
Period to formally organize and commence business or else COI be
revoked ff end of 5-yr period; from date of incorporation