World Traders Exporters Association of the Philippines, Inc.

June 5, 1991 World Traders Exporters Association of the Philippines, Inc. Suite 354-357, Philippine Int'l. Convention Center, CCP Complex, Roxas Boulevard, Manila Attention : Mr . Andres P . Delos Santos, Jr . President S i r : This refers to your letter of May 14, 1991 requesting opinion whether the World Traders Exporters Association of the Philippines, Inc.,a non-profit/non-stock organization, can engage in fund raising projects to be able to implement its main objective, and if so, its limitations. prcd It is well-settled that a corporation has only such powers as are expressly granted in its charter or in the statutes under which it is created or such powers as are necessary for the purpose of carrying out its express powers. (13 Am. Jur. Sec. 739) Only such powers as are reasonably necessary to enable corporations to carry out the express powers granted and the purposes of the creation are to be implied as are to be deemed incidental. (Am. Jur. Sec. 740) Powers merely convenient or useful are not implied they are not essential, having in view the nature and object of incorporation .(Ibid, citing Planters Bank v. Sharp, 6 How (VS) 301, 12L, ed. 447). A perusal of the articles of incorporation of subject corporation disclosed that "fund raising activity" is not among the corporation's authorized purposes or activities. Neither is said activity necessary or incidental in the furtherance of the corporation's objectives. Accordingly, should the corporation desire to engage in fund raising activities, it should amend its articles of incorporation in accordance with Section 16 of the Corporation Code to include the same in its purposes. Please be advised accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman