Eligibility for Incorporation
- Organizations must have been in existence for at least fifteen years.
- Must obtain written consent from two-thirds of members entitled to vote.
- Consent must be given during a meeting called specifically for the purpose of incorporation.
Filing Requirements for Incorporation
- Submission of articles of incorporation to the Securities and Exchange Commission (SEC).
- Articles must be verified by affidavit or affirmation of the organization's president or secretary.
- Articles must explicitly state:
- The nature of the corporation as a professional, civic, or other non-profit or non-stock entity.
- Confirmation that two-thirds of the membership consented or voted for incorporation.
- The location of the principal office within the Philippines.
- The names and addresses of the members of the board of directors.
Rights and Governance of the Newly Incorporated Entity
- The corporation may continue to be governed by its existing constitution and by-laws.
- It is entitled to all privileges and obligations of corporations under the Corporation Law.
- Exceptions apply where such privileges or obligations conflict with the organization's constitution and by-laws.
Effectivity
- The Act took effect immediately upon approval on June 22, 1963.