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- Category: Philippines Legal Form
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(Articles of Incorporation Realty Development Company)
ARTICLES OF INCORPORATION
______________________ REALTY, INC.
Know All Men By These Presents:
That we, all of whom are of legal age and residents of the Philippines, Filipinos, have on this day, voluntarily associated ourselves together for the purpose of forming a stock corporation under the laws of the Republic of the Philippines:
AND WE DO HEREBY CERTIFY:
FIRST: That the name of the Corporation shall be ____________________ REALTY, INC.
SECOND: That the specific purposes for which said Corporation is formed are:
To acquire by purchase, lease, or otherwise, lands or interest in lands and realty, and to own, hold, improve, develop, manage, and operate said land or lands or real estate so acquired, and to erect or cause to be erected on any lands, owned, held, occupied, or acquired by the corporation, buildings and other structures with their appurtenances, and to rebuild, enlarge, alter, improve, or remodel any building or other structures now or hereafter erected on any lands or real estates so owned, held or occupied, or otherwise dispose of any lands or real estate or interests in lands or real estates and in buildings and other structures at anytime owned or held by the corporation.
THIRD: That the place where the principal office of the corporation is to be established or located is at _____________, Philippines.
FOURTH: That the term for which the Corporation is to exist is _____________ (________) years from and after the date of issuance of the Certificate of Incorporation.
FIFTH: That the names, nationalities and residences of the incorporators are as follows:
Name Nationality Residence
SIXTH: That the number of directors of the Corporation shall be five (5) and that the names, nationalities and residence of the Directors of said Corporation who shall act as such until their successors are elected and have qualified as provided for in the by-laws are as follows:
Name Nationality Residence
SEVENTH: That the authorized capital stock of the Corporation is _____________ (P_____________) PESOS in lawful money of the Philippines, divided into ___________________ (_________) shares with the a par value of _____________ (P_________) PESOS per share.
EIGHT: That the authorized capital stock of the corporation has been fully subscribed representing the sum of __________________________ (P_______________) PESOS, Philippine Currency, and at least twenty (25%) per cent of the total subscription has been paid as follows:
Name No. of Shares Subscribed Amount Paid-In
NINTH: That _____________ has been elected by the subscribers as Treasurer of the corporation to act as such until his/her successor is duly elected and qualified in accordance with the by-laws; and that as such Treasurer, (he/she) has been authorized to receive for and in the name and for the benefit of the corporation, all subscriptions paid by the subscribers.
TENTH: That no transfer of stocks or interest therein which will reduce the ownership of Filipino citizens to less than the percentage of the capital stock required by law shall be allowed or permitted to be recorded in the Corporate Books and this restriction shall be indicated in all the stock certificates issued by the corporation.
ELEVENTH: That the corporation manifests its willingness to change its corporate name in the event another person, firm or entity has acquired a prior right to use the said firm name or one deceptively or confusingly similar to it.
IN WITNESS WHEREOF, we have hereunto affixed our signatures this _____________, at the City of _____________, Philippines.
(SIGNATURES OF ALL INCORPORATORS)
SIGNED IN THE PRESENCE OF: