Increase in Paid-Up Capital Stock
SEC-BED Memorandum Circular No. 09-89 • Securities and Exchange Commission Departments • Markets and Securities Regulation Department (MSRD) • Oct 5, 1989
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October 5, 1989 SEC-BED * MEMORANDUM CIRCULAR NO. 09-89 TO : Pre-Need Companies RE : Increase in Paid-Up Capital Stock To further insure the protection of planholders, the Commission hereby mandates that: cdlex 1. All new registrants shall have a minimum paid-up capital of at least Three Million Pesos (P3,000,000.00) provided, however, that the same shall be increased by another Three Million Pesos (P3,000,000.00) for every type of plan that they propose to offer or sell to the public. 2. All existing pre-need companies shall likewise increase their paid-up capital by the same amount before any application for the registration/licensing of additional plans of every type is approved by the Commission. For your strict compliance. cdlex (SGD.) ROSARIO N. LOPEZ Chairman
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