Art. 44. The following are juridical persons:
(1) The State and its political subdivisions;
(2) Other corporations, institutions and entities for public interest or
purpose, created by law; their personality begins as soon as they have
been constituted according to law;
(3) Corporations, partnerships and associations for private interest or
purpose to which the law grants a juridical personality, separate and
distinct from that of each shareholder, partner or member.
This enumerates the juridical persons.
A juridical person is an organic unit resulting from a group of persons or mass or
property to which the state grants or recognizes personality and capacity to hold
patrimonial rights independent of those of component members
The juridical personality of political subdivisions and public corporations (i.e., GSIS,
SSS) commences when the law creating them becomes effective.
The juridical personality of a private corporation commences upon incorporation with
the SEC.
The juridical personality of a partnership commences upon the meeting of the minds
of the parties.
Although the Catholic Church is not one of those mentioned in Article 44, it is still
considered as a juridical person in Barlin vs. Ramirez because of tradition.
Art. 45. Juridical persons mentioned in Nos. 1 and 2 of the preceding
article are governed by the laws creating or recognizing them.
Private corporations are regulated by laws of general application on the
subject.
Partnerships and associations for private interest or purpose are
governed by the provisions of this Code concerning partnerships.
Art. 46. Juridical persons may acquire and possess property of all kinds,
as well as incur obligations and bring civil or criminal actions, in conformity
with the laws and regulations of their organization.
Art. 47. Upon the dissolution of corporations, institutions and other
entities for public interest or purpose mentioned in No. 2 of article 44, their
property and other assets shall be disposed of in pursuance of law or the
charter creating them. If nothing has been specified on this point, the property
and other assets shall be applied to similar purposes for the benefit of the
region, province, city or municipality which during the existence of the
institution derived the principal benefits from the same.
Dissolution is found in detail in the Corporation Code.
One Response
hello po admin. i would like to clarify a questions because i’ve been researching such and i can’t come up with the answer. i would to ask for a favor to share with us if you were able to know the answer. the questions states, “What are the requirements for an artificial being to become a party tok an action?” Thank you.