Mr. Leonardo T. Robles
SEC Opinion • Securities and Exchange Commission • Opinions • Dec 21, 1981
Full text
December 21, 1981 Mr. Leonardo T. Robles Suite 302 Velarde Bldg. Gen. Paulino Santos Drive Koronadal, South Cotabato Sir : This has reference to your letter dated October 31, 1981, inquiring about the legal status of the Knights of Columbus Insurance Services, Inc. A verification on the records on file disclosed that only the "Knights of Columbus Fraternal Association of the Philippines, Inc." is registered with this Commission. It appears, however, that the Knights of Columbus Insurance Services, Inc. was organized by the Knights of Columbus of Koronadal, South Cotabato and immediate members of their families to serve as an insurance agency in Marbel, Koronadal. Please be informed that unless registered with the Securities and Exchange Commission, a corporation acquires no juridical personality of its own to act as such. Accordingly, the alleged "Knights of Columbus Insurance Services, Inc.", not being registered, is not competent to transact business or enter into contracts in the name of the Knights of Columbus Fraternal Association of the Philippines, Inc. Please be advised accordingly. Very truly yours, (SGD.) MANUEL G. ABELLO Chairman
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