Atty. Angel Sepidoza

August 4, 1988 Atty. Angel Sepidoza Suite 404 Federation Center Building Muelle de Binondo Manila Sir : This refers to your letter, dated August 3, 1988, requesting the authority and permission of this Commission to the use of "Del Pilar Foundation, Inc." as the corporate name of your proposed foundation. Records of this Commission show that a non-stock corporation, identified as "Del Pilar Foundation, Inc." was registered with us on October 11, 1972. However, said corporation has failed to file its by-laws and the reportorial requirements in violation of our laws. In this connection, Section 22 of the Corporation Code is emphatic: "Effect of non-use of corporate charter and continuous inoperation of a corporation. If a corporation does not formally organize and commence the transaction of its business or the construction of its works within two (2) years from date of its incorporation, its corporate powers cease and the corporation shall be deemed dissolved ...." (Emphasis supplied). In view of the foregoing, your request for the use of the name "Del Pilar Foundation, Inc." may be given favorable due course. cdlex Very truly yours, (SGD.) JULIO A. SULIT, JR. Chairman