LandBank now accepts application for SEC registration of stock corporations

All provincial branches of LANDBANK will accept applications for registration with the Securities and Exchange Commission (SEC) starting Thursday, September 15, 2011, the Land Bank of the Philippines has announced.

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Under the Memorandum of Agreement (MOA) signed last July 14, 2011 by SEC and LANDBANK, a stock corporation to be organized can go directly to a LANDBANK branch for the pre-processing of its SEC application, verification of the requirements, and payment of the regular filing fee.

The pre-processed application and requirements will be submitted to SEC for the processing and issuance of certificates of incorporation and Stock Transfer Book for release by LANDBANK to the applicant.

The pilot run of the implementation of the SEC-LANDBANK partnership started last August 12, 2011 at the LANDBANK San Fernando La Union Branch.

“We look forward to helping streamline the registration process and payment options through branches of LANDBANK. Through this partnership, LANDBANK and SEC can contribute to the government's efforts of promoting businesses and economic activities,” said LANDBANK President Gilda Pico.

On her part, SEC Chairperson Teresita Herbosa said: “We are confident this project will encourage Filipino entrepreneurs all over the country, especially in areas where LANDBANK operates, to formally organize their businesses so they can enjoy the benefits of incorporation.”