Opinion No. 22-04 Re: Corporate Name; Trade Name

Securities and Exchange Commission OFFICE OF THE GENERAL COUNSEL Republic of the Philippines Department of Finance

29 March 2022

Re: Corporate name; Trade name SEC-OGC Opinion No. 22-04

2nd Flr, CAMACOP Building, 13 West Capitol Drive The Christian and Missionary Alliance Churches of the Philippines, Inc. (CAMACOP) 1603 Pasig City

Thru: ATTY. ANTONIO B. STA. ROMANA CAMACOP Corporate Counsel

Dear Atty. Sta. Romana,

trade name "CAMACOP"is "different from and did not amend"the registered corporate name of your religious society "The Christian and Missionary Alliance Churches of the Philippines, Inc.". This refers to your letter dated 23 June 2021 requesting for confirmation that the

the corporate name as follows: are duly approved by the Securities and Exchange Commission ("SEC"). You attached a copy of the Certificate of Filing of Amended Articles of Incorporation of CAMACOP bearing In your letter, you stated that both the trade name and registered corporate name

Doing business under the name and style of CAMACOp" "THE CHRISTIAN AND MISSIONARY ALLIANCE CHURCHES OF THE PHILIPPINES, INC.

Based on this, you raised the following queries:

1. "Can the registered corporate name "The Christian and Missionary Alliance such as but not limited to opening bank accounts, applying for license to solemnize marriages?" its regular and official transactions with both private and government entities, Churches of the Philippines, Inc." (without the trade name "CAMACOP") be used in

2. "Can the trade name "CAMACOP" be used independently (without the registered in papers, labels, posters or other documents and even in our contracts?"; and corporate name "The Christian and Missionary Alliance Churches of the Philippines, Inc.") in the conduct of our religious activities, operation(s) whether

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3. "Can the registered corporate name "The Christian and Missionary Alliance Churches of the Philippines, Inc." or the Trade Name "CAMACOP" be used interchangeably in the above Nos. 1 & 2?

As to your first query, we answer in the affirmative.

on business in such assumed (business or trade) name.1 A corporation may assume a name other than its legal (corporate) name and carry

Guidelines and Procedures on the Use of Corporate and Partnership Names ("SEC MC No. 13, s. 2019" provides: Item no.4 of the SEC Memorandum Circular No.13,Series of 20192 or the Amended

name." (Emphasis supplied) "4. Business or trade name which is different from the corporate or partnership name shall be indicated in the articles of incorporation or partnership. A company may have more than one business or trade

corporate name in its regular and official transactions with both private and government official name of the corporation". entities, and in its official papers and commercial documents since it remains as the In SEC-0GC Opinion No. 11-393, it was opined that a corporation may still use its

entities as the former remains to be the official name of your corporation. Missionary Alliance Churches of the Philippines, Inc." without the trade name "CAMACOP" in all its regular and official transactions with both private and government Thus, your corporation may use its registered corporate name "The Christian and

As to your second and third queries, we likewise answer in the affirmative.

as if it had used its proper name (corporate name).4 labels, posters or other documents such as contracts. It is settled that a corporation using an assumed name (business or trade name) in executing a contract is bound just as much registered corporate name in the conduct of your religious activities/operations, papers, The business and trade name "CAMACOp" may be used independently without the

its business name but also its corporate name. An example is when the corporation files other agencies (e.g., Bureau of Internal Revenue).5 interchangeably in the conduct of its business. However, there are instances wherein the its official papers, such as Financial Statements and the like, with the Commission and corporation is mandated to use, issue and/or submit papers reflecting therein not just Likewise, the corporate name and the trade name of the corporation may be used

5 Ibid., Footnote no. 1 4 Ibid., Footnote no. 1 1 SEC-OGC Opinion No. 11-39 addressed to Emperador Distillers, Inc. dated September 21, 2011 citing 6 Fletcher 3 Ibid., Footnote no. 1 Cyc Corp 8 2442.1 (Perm Ed) Issued on 21 June 2019

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in specific papers)6, we advise you to check the same with those other agencies. the use of the business or trade name (e.g. whether or not to indicate the corporate name Thus, since other regulatory agencies may formulate restrictions or limitations on

the facts, circumstances and documents disclosed/submitted, and should be considered relevant solely to the particular issue raised therein. It shall not be used in the nature of a standing rule binding upon the Commission in other cases or upon the courts whether of similar or dissimilar circumstances7. If, upon further inquiry or investigation, it will be disclosed that the facts relied upon are different, this opinion shall be rendered void. It shall be understood that the foregoing opinion is rendered solely on the basis of

Please be guided accordingly.

Respectfully yours,

ROMUALDC. PADILLA Crmwbtmme [General Counsel

Ibid. Footnote no. 1 7 SEC Memorandum Circular No. 15, Series of 2003, No. 7