Article 19p. 19

COMMERCIAL LAWS NEGOTIABLE INSTRUMENTS, CORPORATION, INSURANCE, TRANSPORTATION, BANKING

capital being not less than five thousand (P5,000.00)

pesos.

SECTION 15. Forms of Articles of Incorporation . —

Unless otherwise prescribed by special law, articles of

incorporation of all domestic corporations shall comply

substantially with the following form:

ARTICLES OF INCORPORATION OF

__________________________

(Name of Corporation)

KNOW ALL MEN BY THESE PRESENTS:

The undersigned incorporators, all of legal age and a

majority of whom are residents of the Philippines, have

this

day

voluntarily

agreed

to

form

a

(stock)

(non-stock)corporation under the laws of the Republic of

the Philippines;

AND WE HEREBY CERTIFY:

FIRST: That the name of said corporation shall be

"_____________________, INC. or CORPORATION";

SECOND: That the purpose or purposes for which

such corporation is incorporated are: (If there is more

than

one

purpose,

indicate

primary

and

secondary

purposes);

THIRD: That the principal office of the corporation is

located

in

the

City/Municipality

of

________________________,

Province

of

_______________________, Philippines;

FOURTH:

That

the

term

for

which

the

said

corporation is to exist is ___________ years from and after

the date of issuance of the certificate of incorporation;

FIFTH: That the names, nationalities and residences of

the incorporators of the corporation are as follows:

NAME

NATIONALITY

RESIDENCE

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

SIXTH: That the number of directors or trustees of the

corporation shall be _______; and the names, nationalities

and residences of the first directors or trustees of the

corporation are as follows:

NAME

NATIONALITY

RESIDENCE

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

_______________

____

SEVENTH: That the authorized capital stock of the

corporation is ______________________ (P___________) PESOS

in lawful money of the Philippines, divided into __________

shares

with

the

par

value

of

_________________

(P_____________) Pesos per share.

(In case all the shares are without par value):

That

the

capital

stock

of

the

corporation

is

______________ shares without par value. (In case some

shares have par value and some are without par value):

That the capital stock of said corporation consists of

_____________ shares of which ______________ shares are of

the par value of _________________ (P____________) pesos

each, and of which _____________ shares are without par

value.

EIGHTH: That at least twenty-five (25%) percent of the

authorized

capital

stock

above

stated

has

been

subscribed as follows:

No. of

Shares

Amo

unt

Name of

Subscriber

Nationality

Subscribed

Subs

cribed

_____________

____

___________

_

___________

_

______

______

_____________

____

___________

_

___________

_

______

______

_____________

____

___________

_

___________

_

______

______

_____________

____

___________

_

___________

_

______

______

_____________

____

___________

_

___________

_

______

______

NINTH: That the above-named subscribers have paid

at least twenty-five (25%) percent of the total subscription

as follows:

Name of

Subscriber

Amount

Subscribed

Total Paid-In

_______________

__

_______________

____

_______________

_______________

__

_______________

____

_______________

_______________

__

_______________

____

_______________

_______________

__

_______________

____

_______________

_______________

__

_______________

____

_______________

(Modify Nos. 8 and 9 if shares are with no par value. In

case the corporation is non-stock, Nos. 7, 8 and 9 of the

above articles may be modified accordingly, and it is

sufficient if the articles state the amount of capital or

money contributed or donated by specified persons,

stating the names, nationalities and residences of the

contributors or donors and the respective amount given

by each.)

TENTH: That _____________________ has been elected

by the subscribers as Treasurer of the Corporation to act

as such until his successor is duly elected and qualified in

accordance with the bylaws, and that as such Treasurer,

he has been authorized to receive for and in the name

and for the benefit of the corporation, all subscription (or

fees) or contributions or donations paid or given by the

subscribers or members.

© Compiled by RGL

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