In re Good Samaritan Baptist Church, Inc.

February 12, 2008 SEC EN BANC CASE NO. 01-08-0338 IN THE MATTER OF GOOD SAMARITAN BAPTIST CHURCH, INC. (SEC REG. NO. AN096-01186) , petitioner . SETTING ASIDE OF THE ORDER OF REVOCATION O R D E R Petitioner GOOD SAMARITAN BAPTIST CHURCH, INC. is a non-stock corporation registered with the Commission on March 28, 1996. Petitioner was formed primarily to administer its affairs, properties and temporalities. 1 Its principal office is located at 1830-A Sandejas Street, Pasay City. DaECST On March 15, 2004, petitioner's Certificate of Registration No. AN096-01186 was revoked by virtue of SEC Order dated February 10, 2004 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on February 14, 2004. Petitioner now prays for setting aside of the said order of revocation based on the ground that the church would like to continue having its juridical personality and the legal capacity to maintain or enter into a contract with banks and other institutions, acquire and possess properties, incur obligations, and other rights granted by the SEC to a duly registered corporation. In support of its petition, petitioner submitted the following: a) 2006 Annual Income Tax Return; b) Minutes of the Board Meetings dated December 16, 2007, March 11, 2007 and March 4, 2007; c) Newsletters for October to December 2006, Volume 1, Issue 4 and for January to March 2007, Volume 2, Issue 1; d) 2007 General Information Sheet; and e) 2006 Audited Financial Statement. DIETHS Petitioner further alleges that it has no intention to violate the law and any SEC rules and regulations and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also committed to pay immediately any penalties due by reason of its failure to comply with the Commission's reportorial requirements. In fact, it paid the penalty in full as evidenced by Official Receipt No. 0128051 dated January 02, 2008 amounting to SIXTEEN THOUSAND PESOS (P16,000.00). WHEREFORE, finding the petition meritorious, the Order of the Commission dated February 10, 2004 revoking the Certificate of Registration of GOOD SAMARITAN BAPTIST CHURCH, INC. is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department and Economic Research and Information Department of this Commission for their appropriate action. ECTSDa SO ORDERED. Mandaluyong City, February 12, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Second Article of Petitioner's Articles of Incorporation.