Practice question
Founders submit articles and bylaws, but SEC finds material statutory noncompliance and has not issued a certificate. They claim submission itself compels recognition as the incorporated entity under18. Which is correct?
- Submission does not replace the required compliance determination and certificate issuance
- Every submission automatically binds SEC to issue a certificate
- Any filing receipt is the certificate under official seal
- A company logo cures all defects
- The founders may privately issue the SEC certificate
Legal references
- RA11232 Revised Corporation Code: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html Sections2,4 and18.
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