Podcast
Questions and Answers
What is the defining characteristic of a stock corporation?
What is the defining characteristic of a stock corporation?
- It is formed for charitable purposes
- It is a nonprofit organization
- It does not issue stocks
- It has capital stock divided into shares (correct)
What types of purposes can nonstock corporations be formed for?
What types of purposes can nonstock corporations be formed for?
- Charitable, religious, educational, and professional purposes (correct)
- Cultural, fraternal, and literary purposes
- Social, civic service, and trade purposes
- All of the above
What is the value of the outstanding capital stock?
What is the value of the outstanding capital stock?
- Total number of shares issued
- Total assets of the corporation
- Amount fixed in the articles of incorporation
- Total stock subscription except treasury stock (correct)
How many incorporators are required for a corporation aggregate?
How many incorporators are required for a corporation aggregate?
What is the requirement to become a member of a nonstock corporation?
What is the requirement to become a member of a nonstock corporation?
Corporation aggregate- composed of at least 2 incorporators. b. ______
Corporation aggregate- composed of at least 2 incorporators. b. ______
Capital- value of asset ______
Capital- value of asset ______
How to become a member of NSC. - Your name should be included in AOI - Personal and non-transferable ______
How to become a member of NSC. - Your name should be included in AOI - Personal and non-transferable ______
Sec.87 of the RCC Nonstock corporations may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, like trade, industry, agricultural and like chambers, or any combination thereof, subject to the special provisions of this Title governing particular classes of ______
Sec.87 of the RCC Nonstock corporations may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, like trade, industry, agricultural and like chambers, or any combination thereof, subject to the special provisions of this Title governing particular classes of ______
Outstanding capital stock- total stock subscription except ______
Outstanding capital stock- total stock subscription except ______
