IC CIRCULAR LETTER NO. 13-2009, March 16, 2009

[ IC CIRCULAR LETTER NO. 13-2009, March 16, 2009 ]

FILING OF 2008 ANNUAL STATEMENTS

The following guidelines are hereby issued:

I. The Annual Statement showing the exact condition of each Association’s affairs as of the preceding thirty-first (31 st ) day of December shall be signed and sworn to by the president, chief operating officer, general manager, secretary, treasury, actuary and accountant;

II. The Annual Statement shall be on legal size bond paper (8½ x 14 Inches), using either the Times New Roman font size #12 or Arial font size #10. Attached to each Annual Statement shall be the documents enumerated in Annex A [*] hereof;

III. The exact formats, columnar headings and footnote instructions found in every page of the blank forms of the prescribed Annual Statement shall be observed;

IV. A soft copy of the Annual Statement and attachments shall also be submitted;

V. Any Annual Statement submitted with incomplete documents shall not be considered full compliance with the requirement; and

VI. The filing shall be fifteen Thousand Pesos (P15,000.00) pursuant to Insurance Memorandum Circular 3-2006 dated June 28, 2006.

Please file your 2008 Annual Statements on or before April 30, 2009 to avoid penalty.

Adopted: 16 March 2009

(SGD.) EDUARDO T. MALINIS

Insurance Commissioner

[*] Text Available at Office of the National Administrative Register, U. P. Law Complex, Diliman, Quezon City.