Sec. 4 Corporations Created by Special Laws or Charters

Question 1

Corporations created by specific legislative acts or special charters are primarily regulated by

Answer 1

the terms and conditions set forth in those special laws or charters

Question 2

These specific provisions take precedence in governing the corporation’s operations, structure, and any other relevant aspects.

Answer 2

Special laws or charters

Question 3

In areas where the special law or charter does not provide guidance, the general provisions of the ______ will prevail

Answer 3

Corporation code

Question 4

Significance of these corporations

Answer 4

designed to address their unique needs, goals, or functions, which may not be adequately covered by general corporate laws. This allows for more precise governance and operational flexibility.

Question 5

Primary law created by special law

Answer 5

Is the charter itself or the law itself

Question 6

What is the effect if there is inadequacy in the law creating a special corporation

Answer 6

✓ Corporation code will prevail
✓ the charter governs

Question 7

is a company that is either fully or partially owned by the government.

Answer 7

GOCC, or Government-Owned and Controlled Corporation

Question 8

Appoints the BOD of GOCC

Answer 8

Pres. of the Philippines

Question 9

Percentage of non taxable net income income subject to government

Answer 9

75%