Citytrust
SEC Opinion • Securities and Exchange Commission • Opinions • Oct 27, 1988
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October 27, 1988 Citytrust V. Esgurra Building II Amorsolo St.,Legaspi Village Makati, Metro Manila Attention : Ms . Jocelyn D . Espiritu Customer Service Officer Citytrust, New Manila Branch Sir/Madam : This refers to your letter, dated October 13, 1988, requesting for information as to whether corporations sole are required to file their respective by-laws. Anent thereto, please be informed that corporations sole belong to a special class of corporations, and pursuant to Section 112, of the Corporation Code, paragraph 2 thereof: "From and after the filing with the Securities and Exchange Commission of the said articles of incorporation, verified by affidavit or affirmations, accompanied by the documents mentioned in the preceding paragraph such Chief Archbishops, bishop, priest minister, rabbi or presiding elder as the case may be, shall become corporation sole. ...". In line with the above provision, please be advised that a corporation sole is not required by Law to file a by-laws with this Commission. Accordingly, said class of corporation may open an account with your bank without presenting any approved copy of its by-laws. LexLib (SGD.) CORAZON I. MORANDO Director Corporate and Legal Department
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