Opinions and Legal Insights

TREASURER’S AFFIDAVIT

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REPUBLIC OF THE PHILIPPINES)

City of San Juan                      )              Sc.

I, AAA A. AAA, of legal age, married and a resident of Unit 101 Maganda Tower, San Juan, after being duly sworn, depose and say:

That I have been elected by the subscribers of the corporation as Treasurer thereof to act as such until my successor has been duly elected and qualified in accordance with the by – laws of the corporation, and that as such Treasurer, I hereby certify under oath that at least 25% of the authorized capital stock of the corporation has been subscribed and at least 25% of the subscription has been paid, and received by me in cash for the benefit and credit of the corporation.

This is also to authorize the Securities and Exchange Commission and Bangko Sentral Ng Pilipinas to examine and verify the deposit in the:

Bank

Branch

Address

BPI

San Juan

G/F Cityland Tower I, San Juan City

in my name as Treasurer in trust for the XYZ INC. in the amount of Five Hundred Thousand Pesos Only (P500,000.00) representing the paid-up capital of the said corporation which is in the process of incorporation.

This authority is valid and inspection of said deposit may be made even after the issuance of the Certificate of Incorporation to the corporation. Should the deposit be transferred to another bank prior to or after incorporation, this will also serve as authority to verify and examine the same. The representative of the Securities and Exchange Commission is also authorized to examine the pertinent books and records of accounts of the corporation as well as all supporting papers to determine the utilization and disbursement of the said paid up capital.

In case the said paid-up capital is not deposited or withdrawn prior to the approval of the articles of incorporation, I, in behalf of the above named corporation, waive our right to a notice and hearing in the revocation of our Certificate of Incorporation.

In witness hereof, I hereunto affix my signature this day of ____________ 2014, _____________, Philippines.

AAA A. AAA

Affiant

Philippine Passport No:EB0912345

Issued on  18 June 2014, Manila

JURAT

SUBSCRIBED AND SWORN TO before me, a Notary Public in the City of San Juan, personally appeared above name with his Philippine Passport No. EB0912345, issued on 18 June 2014, who is personally known to me to be the same person and identified through competent evidence of identity as defined by Rules on Notarial Practice, who presented the foregoing instrument and signed the instrument in my presence, and who took an oath before me as to such instrument. Witness my hand and seal this on _________________.

                                               

NOTARY PUBLIC 

Doc. No.: ______

Page No.: ______

Book No.: ______

Series of 2017.