· Not an official government website

BatasKo

Ang Batas, Sa Simpleng Salita — your rights, finally explained.

Article 1865

RA 386 · Civil Code of the Philippines

ELI5— what this means for you

The writing to amend a certificate shall: (1) Conform to the requirements of article 1844 as far as necessary to set forth clearly the change in the certificate which it is desired to make.

Official text — RA 386

The writing to amend a certificate shall:

(1) Conform to the requirements of article 1844 as far as necessary to set forth clearly the change in the certificate which it is desired to make; and

(2) Be signed and sworn to by all members, and an amendment substituting a limited partner or adding a limited or general partner shall be signed also by the member to be substituted or added, and when a limited partner is to be substituted, the amendment shall also be signed by the assigning limited partner.

The writing to cancel a certificate shall be signed by all members.

A person desiring the cancellation or amendment of a certificate, if any person designated in the first and second paragraphs as a person who must execute the writing refuses to do so, may petition the court to order a cancellation or amendment thereof.

If the court finds that the petitioner has a right to have the writing executed by a person who refuses to do so, it shall order the Office of the Securities and Exchange Commission where the certificate is recorded, to record the cancellation or amendment of the certificate; and when the certificate is to be amended, the court shall also cause to be filed for record in said office a certified copy of its decree setting forth the amendment.

A certificate is amended or cancelled when there is filed for record in the Office of the Securities and Exchange Commission, where the certificate is recorded:

(1) A writing in accordance with the provisions of the first or second paragraph, or

(2) A certified copy of the order of the court in accordance with the provisions of the fourth paragraph;

(3) After the certificate is duly amended in accordance with this article, the amended certified shall thereafter be for all purposes the certificate provided for in this Chapter.

Source: lawphil.net (RA 386 as amended)

Related

RELATED RIGHTS

Legal disclaimer: BatasKo provides general legal information, not legal advice. For advice on contracts, property rights, obligations, or civil damages, consult a licensed Filipino lawyer or the Public Attorney's Office (PAO) at pao.gov.ph.