BSBA-MM3A

1. When may the amendment of articles of incorporation be disapproved?

- If the articles of incorporation or any amendments within it do not comply with the
requirements of this Code, the Securities and Exchange Commission has the
authority to reject them.

2. When does SEC require a corporation to immediately cease and desist from using its
corporate name, and require the corporation to register a new one?
- The Commission may summarily order the corporation to immediately cease and
desist from using its corporate name if it determines that the corporate name is
not distinguishable from a name already reserved or registered for use of another
corporation; already protected by law; or in violation of law, rules, and
regulations.

3. What are the effects of non-use of corporate charter and continuous inoperation?
- After giving a corporation enough time to prepare and hold a hearing, the
Commission may declare the company delinquent if it has started operations but
has not done so for at least five years.