Practice question
The SEC reserves a proposed corporate name but has not issued a certificate of incorporation. The applicants claim reservation itself is the Section18 commencement event. Assume no different legal-creation basis. Which is correct?
- Name reservation and commencement of corporate personality are distinct; Section18 identifies certificate issuance
- Every reservation immediately creates juridical personality
- A reservation automatically supplies a special charter
- A reserved name repeals all filing requirements
- The applicants may substitute an advertisement for a certificate
Legal references
- RA11232 Revised Corporation Code: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html Sections2,4,18 and35(a).
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