Under the old and revised corporation code, which corporate officer is required to be a resident-citizen of the Philippines?

Under the old and revised corporation code, which corporate officer is required to be a resident-citizen of the Philippines?

• A. Secretary only
• B. President
• C. Treasurer
• D. None of the above

Answer: (A)

Residency requirement for corporate officers. The corporate secretary is the officer who must be a Filipino citizen and a resident of the Philippines under both the old and revised corporation codes. This ensures there is a locally available and accountable official who can handle essential governance tasks—keeping the corporate records, certifying actions taken by the board, and coordinating filings with government agencies like the SEC. The president and treasurer do not have the same resident-citizen mandate, so they can be non-residents as long as other qualifications and governance rules are met. In short, the law specifically designates the corporate secretary as the officer required to be a resident-citizen.

Residency requirement for corporate officers. The corporate secretary is the officer who must be a Filipino citizen and a resident of the Philippines under both the old and revised corporation codes. This ensures there is a locally available and accountable official who can handle essential governance tasks—keeping the corporate records, certifying actions taken by the board, and coordinating filings with government agencies like the SEC. The president and treasurer do not have the same resident-citizen mandate, so they can be non-residents as long as other qualifications and governance rules are met. In short, the law specifically designates the corporate secretary as the officer required to be a resident-citizen.