Merger of a Corporation Sole with a Non-Stock, Non-Profit Charitable Institution Avenue

November 21, 2008 SEC-OGC OPINION NO. 26-08 Merger of a Corporation Sole with a Non-Stock, Non-Profit Charitable Institution Avenue Attys. Christian Del Rosario & Joseph Rebano Del Rosario & Del Rosario Law Firm 15/F Pacific Star Building Makati Avenue cor. Sen. Gil Puyat 1200 Makati City Gentlemen : This refers to your letter dated 8 September 2008 requesting for a confirmation of whether an Opinion allowing the merger of a corporation sole with a non-stock, non-profit charitable institution is still valid. aTEHIC The Commission in the Letter to Atty. Myrna Cruz-Feliciano dated 28 March 1990 opined that "a merger between a corporation sole and another religious corporation, if not forbidden by the Constitution, rules and regulations or discipline of the religious denomination, sect or church, may be allowed since there is no provision in the Corporation Code of the Philippines prohibiting such a merger." The aforementioned has not been modified nor superseded by a subsequent law, court decision, ruling or opinion by the Commission since its issuance. Thus, the ruling in the aforementioned Letter, insofar as the Commission is concerned, remains valid. cdasia2009sec For your information and guidance. (SGD.) VERNETTE G. UMALI-PACO General Counsel