PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
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REPUBLIC ACT NO. 3634 - AN ACT
PROVIDING FOR THE INCORPORATION OF PROFESSIONAL, CIVIC, OR OTHER
NON-PROFIT OR NON-STOCK ORGANIZATIONS, AMENDING FOR THE PURPOSE THE
CORPORATION LAW
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Section
1. Act Numbered Fourteen hundred fifty-nine, as
amended, otherwise known as the Corporation Law, is further amended by
inserting between Sections seventy-four and seventy-five thereof a new
section which shall read as follows:
"Sec.
74. Any professional, civil or other non-profit
or non-stock organization in existence for fifteen years may, upon the
written consent of two-thirds of the membership entitled to vote at a
meeting called for the purpose, incorporate itself as a non-stock or
non-profit corporation by filing with the Securities and Exchange and
Exchange Commission articles of incorporation verified by affidavit or
affirmation of its president or secretary, setting forth the
following:
"(1)
That it is a professional, civic or any other
non-profit on non-stock corporation;
"(2) That two-thirds of its membership have given their written consent or have voted to incorporate at a meeting held for the purpose; "(3) The place where the principal office of the corporation is to established and located which place must be within the Philippines; "(4) The names and addresses of the members of the board. "Such corporation shall be entitled to continue its internal government under the terms and conditions of its constitution and by-laws, and to have all the privileges and obligations of other corporations established under this Act, except insofar as inconsistent with the provisions of its constitution and by-laws." Sec. 2. This Act shall take effect upon its approval. Approved: June 22, 1963 |