5 months OPC: Conversion from ordinary stock corporation Manilatimes |Biz
KELVIN LESTER LEESection 131 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines (RCC), provides for the conversion of an ordinary corporation into a One Person Corporation (OPC). Conversion is defined as a process of causing something to change from one configuration to another. It involves putting in something called the ‘Input’ to be operated on by the process to produce another called the ‘Output’. To fully appreciate the conversion under Section 131 of the RCC, we must understand both the input and the output of the conversion process. First, let us begin ... more