Section 7
SEC. 7. Articles of incorporation of stock corporations, unless otherwise provided, shall be sufficient if they comply substantially with the following form : ARTICLES OF INCORPORATION OF THE …..................................................................................... (Here insert full name of corporation.) Know all men by these presents: That we, a majority of whom are residents of the Philippine Islands, have this clay voluntarily associated ourselves together for the purpose of forming a corporation under the laws of the Philippine Islands. And We Hereby Certify— FIRST. That the name of said corporation shall be the (Here insert full name of corporation.) ........................................................................................................................................................... SECOND. That the purposes for which such corporation is formed are (Here insert in full the purposes of the corporation.) .................................................................................................................................................... THIRD. That the place where the principal office of the corporation is to be established or located is (Here insert place where principal office is to be established or located.) ........................................................................................................................................................... FOURTH. That the term for which said corporation is to exist is fifty years from and after the date of incorporation. FIFTH. That the names and residences of the incorporators of said corporation are as follows: NAME WHOSE RESIDENCE IS AT .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. SIXTH. That the number of directors of said corporation shall be (Here insert number of directors, not less than five nor more than fifteen.)........................................................................... and that the names and residences of the directors of the corporation who are to serve until their successors are elected and qualified as provided by the by-laws are as follows, to wit: NAME WHOSE RESIDENCE IS AT .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. .............................................................................. SEVENTH. That the capital stock of said corporation is (Here insert amount of capital stock.)........................................... pesos, and said capital stock is divided into.(Here insert number of shares.) ................................... shares of the par value each of (Here insert par value of each share.)............................................. pesos. EIGHT. That the amount of said capital stock which has been actually subscribed is (Here insert full amount of capital subscribed.)..................................................... ...............…....................pesos, and the following persons have subscribed for the number of shares and amount of capital stock set out after their respective names: Name. Residence. Number of shares Amount of capital stock subsribed. Total ........................................ .......................... ........................... NINTH. That the following persons have paid on the shares of capital stock for which they have subscribed the amounts set out after their respective names: Name. Residence. Number of shares Amount paid on subscription. Total .......................................... .......................... ........................... TENTH. That...................................................................................................... (Here insert name of treasurer elected by subscribers.) has been elected by the subscribers as treasurer of the corporation to act as such until his successor is duly elected and qualified in accordance with the by-laws, and that as such treasurer he has been authorized to receive for the corporation and to receipt in its name for nil subscriptions paid in by said subscribers. ELEVENTH. (If the corporation be a railroad, tramway, wagon road, telegraph, or telephone corporation, here insert estimated length of railroad, tramway, wagon road, telegraph or telephone line, provinces through which such line will pass, and all of its intermediate brandies and connections.) …............................................................................................................................................. TWELFTH. (If the corporation be a railroad or tramway corporation, here insert gauge of road, motive power to be used, means of applying such power, and materials to be used in the construction.) ........................................................................................................................................................ THIRTEENTH. (If the corporation be a wagon-road corporation, here insert width of the road, method of construction, and the construction material to be used.) ........................................................................................................................................................... . FOURTEENTH. (If the corporation be a telegraph or telephone corporation, here insert construction material, appliances, method of construction, and system to be used.) .......................................................................................................................................................... In Witness Whereof, We have hereunto set our hands and seals this ........ day of............, A. D. 190.... ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] SIGNED AND SEALED IN THE ........................................................ [Seal.] PRESENCE OF ........................................................ [Seal.] ............................................................ ........................................................ [Seal.] ............................................................ ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] ........................................................ [Seal.] On this........day of............, in the year A. D. one thousand nine hundred and........, before me, ................................................................................................... a notary public in and fox the .................................................................................., personally appeared (Here insert names of Incorporators.) .........................................................................................….................................. known to me to be the persons whose names are subscribed and who executed the within instrument, and each of them acknowledged to me that he freely and voluntarily executed the same. In Witness Whereof, I have hereunto set my hand and affixed my official seal the day and year last above written. …..............................., Notary Public. CITY OR MUNICIPALITY OF .................. PROVINCE OF ................................... SS.: Philippine Island ...................................................................................................................................... (Here insert name of treasurer elected by subscribers.) being duly sworn, deposes and says that on the ........ day of ............, A. D. 190..... he was duly elected by the subscribers named in the foregoing articles of incorporation as treasurer of the corporation to act as such until his successor has been duly elected and qualified in accordance with the by-laws of the corporation, and that as such treasurer he has been authorized by the subscribers to receive for the corporation all subscriptions paid in by subscribers for the capital stock; that ............................................................................................. pesos has been actually subscribed and that....................................................... pesos has been actually paid to him for the benefit and to the credit of the corporation, and that at least twenty per centum of the entire capital stock has been subscribed and at least twenty-five per centum of the subscription has been actually paid to him for the benefit and to the credit of the corporation. Subscribed and sworn to before me this........ day of............, A. D. 100.... ..................................