Corporate Governance in the Common-Law World: The Political

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Language: English

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An action to pierce the corporate veil most often arises in civil litigation when the corporation is believed to have inadequate assets to cover its liabilities, and the plaintiff alleges that the corporation is actually a sham - that is, the corporation is not really a distinct individual, but is merely an extension or alter ego of its shareholders, being used to advance their private interests or to perpetrate a fraud. Any of the express terms of any class or series of shares may be made dependent upon facts ascertainable outside the articles or any amendment to those articles, provided that the manner in which the facts operate upon the express terms is set forth in the articles or any amendment to those articles. 1701.07 Statutory agent - cancellation and reinstatement of articles. (A) Every corporation shall have and maintain an agent, sometimes referred to as the "statutory agent," upon whom any process, notice, or demand required or permitted by statute to be served upon a corporation may be served.

Pages: 318

Publisher: Cambridge University Press (October 30, 2014)

ISBN: 1107459435

Commencement of corporate existence. - A private corporation formed or organized under this Code commences to have corporate existence and juridical personality and is deemed incorporated from the date the Securities and Exchange Commission issues a certificate of incorporation under its official seal; and thereupon the incorporators, stockholders/members and their successors shall constitute a body politic and corporate under the name stated in the articles of incorporation for the period of time mentioned therein, unless said period is extended or the corporation is sooner dissolved in accordance with law. (n) non-stock may be held anywhere in the Philippines, if provided in its by-laws where summons may be served registration of chattel mortgage must be registered in the register of deeds where the principal office is located Clavecilla Radio System vs home-investments.com. A director of a business corporation who is present at a meeting of its board of directors, or of a committee of the board, at which action on any corporate matter is taken on which the director is generally competent to act, shall be presumed to have assented to the action taken unless his dissent is entered in the minutes of the meeting or unless he files his written dissent to the action with the secretary of the meeting before the adjournment thereof or transmits the dissent in writing to the secretary of the corporation immediately after the adjournment of the meeting download here.
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