Share Ownership and Transfer Restrictions
- Within three years from the decree's proclamation, all government-held shares for PEFTOK veterans must be transferred to the veterans themselves.
- Each PEFTOK veteran, or their widow or legitimate children, is entitled to a maximum of thirty common shares.
- After all veterans are accounted for, the Board of Directors will determine any unsubscribed shares available for subscription by other PEFTOK veterans.
- Sale or transfer of shares to any party not a PEFTOK veteran is strictly prohibited.
- Shares may only be sold or transferred to the corporation for reissuance exclusively to veteran stockholders.
- No individual veteran may hold more than one hundred shares in total.
Definition of PEFTOK Veterans
- The term "PEFTOK veteran" includes officers and enlisted men of the Armed Forces of the Philippines who served with any unit of the Philippine Expeditionary Forces to Korea (PEFTOK).
- This includes those active, inactive, or honorably separated from service.
- Certification must be provided by the Adjutant General of the Armed Forces of the Philippines.
- The definition also extends to widows and legitimate children of such veterans.
- For purposes of stock subscription and transfer, the term also includes:
- Other persons who served in PEFTOK units as determined by the Board.
- Honorary members as authorized by the Board from time to time.
Effectivity
- The decree takes effect immediately upon its approval on August 9, 1974.