Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names
The SEC Memorandum Circular No. 08-15, issued on July 31, 2015, amends the guidelines for corporate and partnership names in the Philippines. It stipulates that corporate names must include "Corporation" or "Incorporated," while partnerships must use "Company" or "Co.," with limited partnerships using "Limited" or "Ltd." Additionally, foundations must include "Foundation" in their names, and non-stock, non-profit corporations engaged in microfinance must incorporate "Microfinance" or "Microfinancing" in their names, aligning with their stated purposes in their Articles of Incorporation. This amendment takes effect immediately upon publication in a widely circulated newspaper.
Law Information
- Reference Number
- SEC Memorandum Circular No. 08-15
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Securities and Exchange Commission
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 31, 2015
SEC MEMORANDUM CIRCULAR NO. 08-15
| TO | : | All Concerned |
| SUBJECT | : | Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names |
The Commission En Banc in its meeting on 2 July 2015, resolved to amend paragraph 1 of SEC Memorandum Circular No. 21, series of 2013 (Omnibus Guidelines and Procedures on the Use of Corporate and Partnership Names) dated 04 December 2013 to read as follows:
"1. a) The corporate name shall contain the word "Corporation" or "Incorporated," or the abbreviations "Corp." or "Inc." respectively;
b) The partnership name shall bear the word "Company" or "Co." and if it is a limited partnership, the word "Limited" or "Ltd." A professional partnership name may bear the word "Company," "Associates," or "Partners," or similar descriptions;
c) The corporate name of a foundation shall use the word "Foundation";
d) The corporate name of all non-stock, non-profit corporations, including non-governmental organizations and foundations, engaging in microfinance activities shall use the word "Microfinance" or "Microfinancing"; provided that said corporations shall state in the purpose clause of their Articles of Incorporation that they shall conduct microfinance operations pursuant to Republic Act No. 8425 or the Social Reform and Poverty Alleviation Act."
This amendment shall take effect immediately after its publication in a newspaper of general circulation. SDHTEC
July 31, 2015, Mandaluyong City, Philippines.
(SGD.) TERESITA J. HERBOSAChairperson
Cite This Law
Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names, SEC Memorandum Circular No. 08-15, Jul 31, 2015 (Philippines)
Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names, SEC Memorandum Circular No. 08-15 (Phil. 2015)
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