9. Special Corporations

Special Corporations and the Application of Special Laws

Under the Revised Corporation Code, corporations created by special laws or charters are governed primarily by the provisions of the special law or charter creating them or applicable to them¹. The provisions of the Revised Corporation Code apply to such corporations only in a suppletory character, insofar as they are applicable¹.

Special laws may likewise provide specific rules that supersede general requirements applicable to corporations:

• Minimum Capital Stock: Stock corporations are generally not required to have a minimum capital stock, except as otherwise specially provided by special law².
• Articles of Incorporation: Corporations must file with the Securities and Exchange Commission articles of incorporation setting forth the substantially required contents under the Revised Corporation Code, except as otherwise prescribed by the Code or by special law³.