Republic Acts1 min read
Section 4Sec./Art. 4
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Financial Institutions Strategic Transfer Corporation. -A FISTC is a stock corporation organized in accordance with Republic Act No. 11232, otherwise known as "The Revised Corporation Code of the Philippines":Provided,That a FISTC shall not be allowed to be incorporated as a one person corporation:Provided,further,That if the FISTC will acquire land, at least sixty percent (60%) of its outstanding capital stock shall be owned by Philippine nationals as defined under Republic Act No. 7042, as amended, otherwise known as the "Foreign Investments Act".
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.