Creation, Name, Domicile and Term.
Section 2
SECTION 2. Creation, Name, Domicile and Term. — There is hereby created a body corporate to be known as the National Fertilizer Corporation of the Philippines (FERTIPHIL), hereinafter referred to as the "Corporation," which shall primarily undertake and transact the corporate business relative to organic and inorganic fertilizers, agricultural chemicals and their by-products and derivatives, and for that purpose, the Corporation shall have capacity to sue and be sued. The principal office of the Corporation shall be determined by its Board of Directors. It may establish such offices, agencies, subsidiaries branches of correspondents, within or outside the Philippines, as the exigencies of its business operations may require. The term of existence of the Corporation shall be fifty (50) years, which shall be deemed renewed for a similar period, unless sooner dissolved by law.