P. M. Benitez

February 1, 1980 P. M. Benitez P. M. Benitez & Associates Rm. 1001, 10th Floor 1010 Building, A. Mabini Manila Sir : In connection with your letter dated December 10, 1979, requesting for an updated list of SEC requirements for non-stock corporations, we are enclosing herewith a list of such requirements. With regards to your query as to whether non-stock corporations are required to file their annual financial statements, please be informed that submission of financial statements is required only in stock corporations . However, under the Rules Requiring the Filing of General Information Sheet/Minutes of Meeting by Domestic Corporation dated March 1, 1971 and Memorandum Circular No. 3, CLD Series 1977, dated January 24, 1977 , non-stock corporations are required to file their general information sheets and minutes of annual meeting. Such requirements should be submitted within thirty (30) days from the date of annual meeting as stated in the by-laws, otherwise, the corporation will be subject to penalty provided for in said rules. cdlex Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department