Corporation Important Dates

Disqualification of director/trustee if convicted by final judgment

5 years prior to election/appointment

Limit of founder's shares' exclusive rights

5 years

Delinquency status after continuous non-operation

5 years

Failure to organize results to automatic dissolution

5 years

Extension of term

3 years prior to expiry

Term of office of directors/trustees for non-stock corp

3 years

For liquidation and winding up

3 years

Allowance for resumption of operations after delinquent status

2 years

Term of office of directors/trustees for stock corporations

1 year

SEC shall act on amendment of AOl

6 months

Pre-incorporation subscriptions are deemed irrevocable

6 months

New date of election

60 days

Legal heirs shall notify SEC

60 days from transfer of shares of single stockholder

Submit report of non-holding of elections to SEC

30 days

In case of non-payment. all shares covered by subscription are considered delinquent

30 days

Period for dissenting SH to make a demand to exercise appraisal right

30 days from date vote was taken

Payment of shares from exercise of appraisal right

30 days from determination of fair value

Notice to stockholders prior to regular meetings

21 days

Stock and transfer book or membership shall be closed for regular meetings

20 days

Sending of notice for meeting in case of voluntary dissolution

20 days

OPC shall appoint treasurer/secretary/other officers

15 days from issuance of cert. of incorporation

Submit withdrawal of reguest for dissolution to SEC

15 days from receipt of request)

Withdrawing SH must submit his shares to corp. for notation

10 days from demand

Report in writing to SEC in case of officer/director/trustee's death, resignation, or in any manner cease to hold office

7 days

Stock and transfer book or membership shall be closed for special meetings

7 days

Notice to SH prior to special meetings

7 days

Nominee shall transfer shares to heirs/estate in case of death of single SH

7 days

SEC shall conduct summary investigation & issue order to inspect or reproduce records of corp

5 days from receipt of report

OPC shall notify SEC of appointment of treasurer/secretary/other officers

5 days from appointment

Corporate secretary shall notify nominee/ alt. nominee of death/incapacity of single SH

5 days

Corporate secretary shall notify SEC of death of single SH

5 days

Notify SEC of creation of emergency board

3 days

Notice to directors prior to regular/special meeting

2 days

Issuance of certification from Compliance Officer

January 30

Date of SH regular meeting, if no date was set

April 15

Delinquency Sale

30-60 days after delinquency