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Question

F. Stockholders and Members - Certificate of Stock

1. Corporation A is a duly registered corporation in the Philippines. X is a shareholder of Corporation A and holds 100 shares of stock. X wants to transfer 50 shares of his stock to his friend Y.

2. Corporation B is a newly incorporated corporation. The board of directors of Corporation B wants to issue stock certificates to its initial shareholders.

3. Corporation C is an existing corporation. The secretary of Corporation C misplaced the original stock certificate of Shareholder Z. Shareholder Z requested a replacement stock certificate from the corporation.

Based on the given scenarios, answer the following questions:

1. What are the requirements for the valid transfer of shares of stock in Corporation A? (4 points)
2. What are the requirements for the issuance of stock certificates in Corporation B? (4 points)
3. What are the procedures for the replacement of a lost stock certificate in Corporation C? (4 points)

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Answer