Other kinds of corporations

Sec. 3. Classes of corporations. Corporations formed or organized under this Code may be stock or non-
stock corporations. Corporations which have capital stock divided into shares and are authorized to
distribute to the holders of such shares dividends or allotments of the surplus profits on the basis of
shares held are stock corporations. All other corporations are non-stock corporations.

1. Quasi-corporations from the word quasi, meaning as if, are entities that are not absolutely
corporations but are considered as if they were. Eg. Public boards created by law

2. Quasi-public are entities engaged in rendering basic services of such public importance as to
entitle them to certain privileges like eminent domain or use of public property. Eg. Electric, gas, water
and telephone companies.

3. Government-owned or controlled are entities organized by the government or corporations of

which the government is a majority stockholder. Eg. Philippine Air Lines
4. Domestic one incorporated under Philippine laws.

5. Foreign one formed, organized, or existing under any laws other than those of the Philippines.

6. Corporation aggregate one composed of more than one member or corporator.

7. Corporation sole consists of one member or corporator and his successors.

8. Religious corporations, sole or aggregate organized, either as sole or aggregate, to administer

properties of the church.

9. Ecclesiastical organized for religious purposes.

10. Lay organized for a purpose other than religious

11. Eleemosynary organized for charitable purposes.

12. Civil are those than ecclesiastical and eleemosynary, whether public or private.

13. Close one wherein all the outstanding stock is owned by the persons who are active in
management and conduct of the business.

14. Open one in which all the members or corporations have a vote in the election of the directors and
other officers.

15. Multi-national one having been created or organized in one state conducts business or activities
across national boundaries and but subject to the legal sanctions of the countries in which they
operate.
16. Non-profit organized without contemplation of gains, profits or dividends to their members on
invested capital.

17. De Jure one created in strict or substantial conformity with the statutory requirements for
incorporation and whose right to exist as a corporation cannot be successfully attacked even in a
direct proceeding for that purpose by the State.