Monday, September 7, 2015

De Facto Corporations

SEC. 20 of Batas Pambansa Blg. 68 "The Corporation Code of the Philippines" refers to De facto corporations as follows:

SEC. 20. De facto corporations.  The due incorporation of any corporation claiming in good faith to be a corporation under this Code,  and its right to exercise corporate powers, shall not be inquired into collaterally in any private suit to which such corporation may be a party. Such inquiry may be made by the Solicitor  General in quo warranto proceeding.

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