Scribd
Upload
75 views2 pages

Declaration of Trust - Template

1. The document declares that one share of stock in [Company Name] is registered in the declarant's name but is being held in trust for [Principal Company Name] to comply with corporate law requiring directors to own at least one share. 2. The declarant agrees to recognize [Principal's] ownership of the share and follow its instructions regarding voting, transferring, or disposing of the share and dividends. 3. [Principal] has the right to appoint a new trustee for the share without the declarant's consent or need to endorse the share certificate.

Uploaded by

Christian Sorita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
75 views2 pages

Declaration of Trust - Template

1. The document declares that one share of stock in [Company Name] is registered in the declarant's name but is being held in trust for [Principal Company Name] to comply with corporate law requiring directors to own at least one share. 2. The declarant agrees to recognize [Principal's] ownership of the share and follow its instructions regarding voting, transferring, or disposing of the share and dividends. 3. [Principal] has the right to appoint a new trustee for the share without the declarant's consent or need to endorse the share certificate.

Uploaded by

Christian Sorita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 2

DECLARATION OF TRUST

I, _________________________, of legal age, Filipino, with office address at


_________________________________, hereby declare that One (1) share of stock
(the “Share”) in __________________________ (the “Corporation”) is registered in my
name in the books of the Corporation. The Share is being held by me in trust for
__________________________ (“Principal”), a corporation duly organized and existing
under the laws of the Philippines, with office address at
______________________________________________, in compliance with Section 23
of the Corporation Code that a director must own at least one (1) share of the capital
stock of the corporation of which he is a director, which share shall stand in his name on
the books of the corporation. I hold the Share for Principal with a solemn covenant to
Principal and its successors and assigns, that:

1. I will at all times honor and recognize the Principal’s ownership of the
subject Share and shall never contest the same.

2. I will at all times transfer and dispose of the said Share and the dividends
thereon and proceeds thereof, in accordance with the instructions given to me by the
Principal;

3. I will at all times, whenever requested by the Principal, sign, execute and
deliver any transfer, proxy form, receipt, notice or other instrument relating to the said
Share or any such dividends, proceeds, rights, privileges, as aforesaid submitted to me
by the Principal;

4. I will not exercise any voting or any other right in respect of the said
Share contrary to any direction of the Principal; and

5. The Principal has the right to appoint a new trustee of the said Share at
any time without need of prior notice to me, and the Corporation’s Corporate Secretary
is hereby instructed to record such transfer of the Share to the new trustee upon
written instruction of the Principal and without need of endorsement of the certificate
by me.

I hereby irrevocably authorize the Principal to sign or complete on my behalf any


instrument of transfer of the said Share which I, as holder of the said Share, have the
power to sign and generally to execute and do all such instruments and things as the
Principal deems fit for the purpose of obtaining or exercising any and all rights and
power of and incidental to the holding of ownership of said Share.

IN WITNESS WHEREOF, I have executed this Declaration of Trust on


___________________ in _____________________.

______________________
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


PASIG CITY ) S.S

BEFORE ME, a Notary Public for and in ____________, Philippines, on


_________________, personally appeared, _______________________ with competent
evidence of Identity ________________________________ known to me and to me
known to be the same person who executed the foregoing instrument and who
acknowledged to me that the same is her free act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal
on the date and place above written.

Doc. No. ______;


Page No.______;
Book No.______;
Series of ______.

You might also like