Question

The following are requirements for incorporators. Which is not?

A. Majority of them must be residents of the Philippines
B. Majority of them must be of legal age
C. They must be natural persons
D. They must be not less than five nor more than fifteen in number

Answer 1

Option C, which states that incorporators must be natural persons, is not accurate. Corporations can also be incorporators of other corporations, allowing for business expansion. Option C

Step-by-step explanation:

Of the given options, option C, which states 'they must be natural persons,' is the requirement for incorporators that is NOT accurate.

Incorporators are individuals or entities who initiate the process of forming a corporation. While it is true that the majority of incorporators must be residents of the Philippines (option A), of legal age (option B), and their number should range from five to fifteen (option D), they do not necessarily have to be natural persons. In fact, corporations can also be incorporators of other corporations.

For example, a corporation can serve as an incorporator in forming a new corporation. This allows for the creation of a chain of companies and promotes business expansion. Therefore, the correct answer is option C.