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(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015
[ SEC Memorandum Circular No. 8, July 31, 2015 ]
AMENDMENT ON THE GUIDELINES AND PROCEDURES ON THE USE OF CORPORATE AND PARTNERSHIP NAMES
Date Filed: 13 August 2015
The Commission En Banc in its meeting on 2 July 2015, resolved to amend paragraph 1 of SEC Memorandum Circular No. 21, series of 2013 (Omnibus Guidelines and Procedures on the Use of Corporate and Partnership Names) dated 04 December 2013 to read as follows:
| “ 1. | a) | The corporate name shall contain the word “Corporation” or “ Incorporated,” or the abbreviations “Corp.” or “Inc.” respectively; |
| b) | The partnership name shall bear the word “Company” or “Co.” and if it is a limited partnership, the word “Limited” or “Ltd.” A professional partnership name may bear the word “Company,” “Associates,” or “Partners,” or similar descriptions; | |
| | c) | The corporate name of a foundation shall use the word “Foundation”; |
| | d) | The corporate name of all non-stock, non-profit corporations, including non-governmental organizations and foundations, engaging in micro finance activities shall use the word “Microfinance” or “Microfinancing”; provided that said corporations shall state in the purpose clause of their Articles of Incorporation that they shall conduct microfinance operations pursuant to Republic Act No. 8425 or the Social Reform and Poverty Alleviation Act.” |
This amendment shall take effect immediately after its publication in a newspaper of general circulation.
31 July, 2015.
Mandaluyong City, Philippines.
Chairperson