An act providing for the revised corporation code of the philippines

SEC. 136. Dissolution by Shortening Corporate Term. – A voluntary dissolution may be 
effected by amending the articles of incorporation to shorten the corporate term pursuant to the 
provisions of this Code. A copy of the amended articles of incorporation shall be submitted to the 
Commission in accordance with this Code.
Upon the expiration of the shortened term, as stated in the approved amended articles of 
incorporation, the corporation shall be deemed dissolved without any further proceedings, subject 
to the provisions of this Code on liquidation. 
In the case of expiration of corporate term, dissolution shall automatically take effect on 
the day following the last day of the corporate term stated in the articles of incorporation, without 
the need for the issuance by the Commission of a certificate of dissolution. 
SEC. 137. Withdrawal of Request and Petition for Dissolution. – A withdrawal of the 
request for dissolution shall be made in writing, duly verified by any incorporator, director, trustee, 
shareholder, or member and signed by the same number of incorporators, directors, trustees, 
shareholders, or members necessary to request for dissolution as set forth in the foregoing sections. 
The withdrawal shall be submitted no later than fifteen (15) days from receipt by the Commission 
of the request for dissolution. Upon receipt of a withdrawal of request for dissolution, the 
Commission shall withhold action on the request for dissolution and shall, after investigation: (a) 
make a pronouncement that the request for dissolution is deemed withdrawn; (b) direct a joint 
meeting of the board of directors or trustees and the stockholders or members for the purpose of 
ascertaining whether to proceed with dissolution; or (c) issue such other orders as it may deem 
appropriate. 
A withdrawal of the petition for dissolution shall be in the form of a motion and similar in 
substance to a withdrawal of request for dissolution but shall be verified and filed prior to 
publication of the order setting the deadline for filing objections to the petition.