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S. No. 1280
H. No. 8374
Begun
and held in Metro Manila, on Monday,
the twenty-third
day of July, two thousand eighteen.
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AN ACT PROVIDING FOR THE REVISED CORPORATION
CODE OF THE PHILIPPINES
Be it enacted by the Senate and House of Representatives of the
Philippines in Congress assembled:
TITLE I
GENERAL PROVISIONS
DEFINITIONS AND CLASSIFICATIONS
SECTION. 1. Title of the Code. – This Code shall be known as the “Revised
Corporation
Code of the Philippines”.
SEC. 2. Corporation Defined. – A corporation is an artificial being created by operation
of law, having the right of succession and the powers,
attributes, and properties expressly
authorized by law or incidental to its existence.
SEC. 3. Classes of Corporations. – Corporations formed or organized under this Code may
be stock or nonstock corporations. Stock corporations are those which have capital stock divided
into shares and are authorized to distribute to the holders of such shares, dividends, or allotments
of the surplus profits on the basis of the shares held. All other
corporations are nonstock
corporations.
