QAU Memo 2015-07: Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names (2)
On August 4, 2015, SEC issued Memorandum Circular No. 8, series of 2015 applicable to all concerned regarding the subject above. The amendment refers to a new provision added to the current guidelines and procedures on the use of corporate and partnership names. An excerpt of the additional provision is shown below:
“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.
For your reference and guidance.
