An act providing for the revised corporation code of the philippines

SEC. 44. Ultra Vires Acts of Corporations. – No corporation shall possess or exercise 
corporate powers other than those conferred by this Code or by its articles of incorporation and 
except as necessary or incidental to the exercise of the powers conferred. 
 
 
TITLE V 
 
BYLAWS 
SEC. 45. Adoption of Bylaws. – For the adoption of bylaws by the corporation, the 
affirmative vote of the stockholders representing at least a majority of the outstanding capital stock, 
or of at least a majority of the members in case of nonstock corporations, shall be necessary. The 
bylaws shall be signed by the stockholders or members voting for them and shall be kept in the 
principal office of the corporation, subject to the inspection of the stockholders or members during 
office hours. A copy thereof, duly certified by a majority of the directors or trustees and 
countersigned by the secretary of the corporation, shall be filed with the Commission and attached 
to the original articles of incorporation. 
Notwithstanding the provisions of the preceding paragraph, bylaws may be adopted and 
filed prior to incorporation; in such case, such bylaws shall be approved and signed by all the 
incorporators and submitted to the Commission, together with the articles of incorporation. 

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In all cases, bylaws shall be effective only upon the issuance by the Commission of a 
certification that the bylaws are in accordance with this Code. 
The Commission shall not accept for filing the bylaws or any amendment thereto of any 
bank, banking institution, building and loan association, trust company, insurance company, public 
utility, educational institution, or other special corporations governed by special laws, unless 
accompanied by a certificate of the appropriate government agency to the effect that such bylaws 
or amendments are in accordance with law.