Break it down yo! Karen Jimeno discusses changes to Corporate Code
Atty. Karen Jimeno happily listed down the new changes signed into law by President Rodrigo Duterte. The president recently approved the revisions to 38-year old Corporation Code in the Philippines.
#PresidentDuterte signed into #law the #RevisedCorporationCode amending 38 yr old #CorporationCode. Changes include: No minimum number of incorporators; P1M minimum capital stock; Removed 50yr corporate term limit; Allows remote communication methods in board meetings.
— Karen Jimeno (@AttyKarenJimeno) February 21, 2019
Jimeno noted that there are significant changes in the law. The abogado noted that there will be no minimum number of incorporators and the minimum capital stock is now 1 million.
The abogada also noted that the revisions removed the 50-year corporate term limit. She wrote, “Allows remote communication methods in board meetings.”
Ang productive ni Digong ah!