TITLE XIII – SPECIAL CORPORATIONS
CHAPTER 1 – EDUCATIONAL CORPORATIONS
Section 105. Incorporation. – Educational corporations shall be governed by special laws and by the general provisions of this Code.
Section 106. Board of Trustees. – Trustees of educational institutions organized as non-stock corporation shall not be less than five (5) nor more than fifteen (15): Provided, That the number of trustees shall be in multiples of five (5).
Unless otherwise provided in the articles of incorporation or bylaws, the board of trustees of incorporated schools, college or other institutions of learning shall, as soon as organized, so classify themselves that the term of office of one-fifth I1/5) of their number shall expire every year. Trustees thereafter shall be elected to fill vacancies, occurring before the expiration of a particular term, shall hold office only for the unexpired period. Trustees elected thereafter to fill vacancies caused by the expiration of term shall hold office for five (5) years. A majority of the trustees shall constitute a quorum for the transaction of business. The powers and authority of trustees shall be defined in the bylaws.
For institutions organized as stock corporations, the number and term of directors shall be governed by the provisions of stock corporation.
← Previous Next →
Revenue Regulations No. 003-2026
Revenue Memorandum Circular No. 031-2026
Revenue Memorandum Circular No. 030-2026
Revenue Regulations No. 002-2026
Revenue Memorandum Circular No. 020 – 2026
SEC Memorandum Circular No. 10 Series of 2026
Revenue Regulations No. 001-2026
Live Webinar: Returns and Reports Preparation under eBIR Forms and Online Submissions
Live Webinar: Basic Bookkeeping for Non-Accountants
Live Webinar on Ph Payroll Computations and Taxation
Live Webinar: BIR Examination: Their Procedures and Our Defenses
Live Webinar: Winning BIR Tax Assessments Series: Process, Remedies & Writing Effective Protest
Live Webinar: Value Added Tax: In and Out
Live Webinar: How to register business entities in the Philippines?
Live Webinar 1 & 2: BIR Tax Compliance for VAT Entity
Live Webinar: PEZA Registered Entities: Taxation and Basic Reports
Δ
Phone : (02) 5310-2239
Mobile : Smart: 0939-916-2952 Globe: 0967-497-4989
Email : info@taxacctgcenter.ph
© Tax and Accounting Center 2026. All Rights Reserved