Professional Documents
Culture Documents
Summary of Periods
Summary of Periods
5 years Non-use of corporate charter and does not formally organize and commence business
5 years Duration of exclusive right to vote and devoted for of founder’s share
5 years Period to submit reportorial requirements of OPC 3x before being considered as delinquent
60 days Period to notify SEC regarding the transfer of shares upon conversion of OPC to ordinary
corp
20 days Stock and transfer book closed before the regular meeting
20 days Period to close the stock and transfer book before regular meeting
7 days Period to close the stock and transfer book before special meeting
7 days Period to transfer shares to heirs upon conversion of OPC to Ordinary Corp
5 days Period to notify nominee and alternate nominee of conversion to ordinary corp
5 days Notice of order of SEC in voluntary dissolution where creditors are affected
No later than day of expiration Period to fill out vacancy of BOD if term expires
Same day of removal Period to fill out vacancy of BOD from removal