• It is the duty and obligation of the corporate secretary to register the transfer of stocks.

• In transferring the stock, the corporate secretary acts in a purely ministerial capacity.

• If the corporate secretary refuses to register the transfer without due cause, it may be compelled to do so by mandamus.

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• For shares of stocks with a stock certificate, there must be delivery of the stock certificate, indorsement and recording in the stock and transfer book of the corporation.

• For shares of stocks without a stock certificate, transfer must be done by means of a deed of assignment and recording in the stock and transfer book of the corporation.

• The Corporation is not a party to the transfer of shares of stocks through any form of conveyance.

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• Unauthorized sale of pre-need plans shall subject the issuer to a fine

• A criminal charge may be filed even after the imposition of administrative sanctions

• Selling or offering to sell a pre-need plan by unregistered persons are penalized by imprisonment

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• A conservator may be appointed to take charge of the assets, liabilities, and the management of a pre-need company

• The conservator has the power to overrule or revoke the actions of the previous management of a pre-need company

• Insolvency refers to the financial condition of a pre-need company that is generally unable to pay its liabilities as they fall due

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