Lyman Manzanares

Securities in 8799

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“Securities” are shares, participation or interests in a corporation or in a commercial enterprise or profit-making venture and evidenced by a certificate, contract, instruments, whether written or electronic in character. It includes: (a) Shares of stocks, bonds, debentures, notes evidences of indebtedness, asset-backed securities;(b) Investment contracts, certificates of interest or participation in a profit sharing […]

E-money and EMI

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E-money shall mean monetary value as represented by a claim on its issuer, that is –a. electronically stored in an instrument or device;b. issued against receipt of funds of an amount not lesser in value than the monetary value issued;c. accepted as a means of payment by persons or entities other than the issuer;d. withdrawable […]

How do you rule innocent men?

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“There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.”―Ayn Rand

Meeting of the Board of Directors or Trustees in 11232

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Unless the articles of incorporation or the bylaws provides for a greater majority, a majority of the directors or trustees as stated in the articles of incorporation shall constitute a quorum to transact corporate business, and every decision reached by at least a majority of the directors or trustees constituting a quorum, except for the […]

Executive Management, and Other Special Committees in the Revised Corporation Code

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If the bylaws so provide, the board may create an executive committee composed of at least three (3) directors. Said committee may act, by majority of vote of all its members, on such specific matters within the competence of the board, as may be delegated to it in the bylaws or by majority vote of […]

Preliminary investigation, Rules of Crim. Procedure

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Preliminary investigation is an inquiry or proceeding to determine whether there is sufficient ground to engender a well-founded belief that a crime has been committed and the respondent is probably guilty thereof, and should be held for trial. Except as provided in section 7 of this Rule, a preliminary investigation is required to be conducted […]

Strikes and lockouts in GBL

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The banking industry is hereby declared as indispensable to the national interest and, notwithstanding the provisions of any law to the contrary, any strike or lockout involving banks, if unsettled after seven (7) calendar days shall be reported by the Bangko Sentral to the secretary of Labor who may assume jurisdiction over the dispute or […]

Subsidiaries under FRIA

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Subsidiary shall refer to a corporation more than fifty percent (50%) of the voting stock of which is owned or controlled directly or indirectly through one or more intermediaries by another corporation, which thereby becomes its parent corporation. Section 4(oo)Rep. Act No. 10142August 16, 2010

Corporate name under Revised Corporation Code

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No corporate name shall be allowed by the Commission if it is not distinguishable from that already reserved or registered for the use if another corporation, or if such name is already protected by law, rules and regulations. A name is not distinguishable even if it contains one or more of the following: (a) The […]

Where criminal action can be instituted

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Subject to existing laws, the criminal action shall be instituted and tried in the court of the municipality or territory where the offense was committed or where any of its essential ingredients occurred. (b) Where an offense is committed in a train, aircraft, or other public or private vehicle while in the course of its […]