SEC. 20. if a corporation does not formally organize; and commence the transaction of its business or the construction of its works within two years from date of its incorporation, its corporate powers cease. The due incorporation of any corporation claiming in good faith to be a corporation under (his Act and its right to exercise corporate powers shall not be inquired into collaterally in any private suit to which the corporation may be a party, hut such inquiry may be had at the suit of the Insular Government on information of the Attorney-General.
BY-LAWS.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationAct No. 1459 Section 20 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
