Beruflich Dokumente
Kultur Dokumente
OF
That we, the undersigned partners, all of legal age, residents and
citizens of the Philippines, have on this day voluntarily associated
ourselves together for the purpose of forming a general partnership under
the following terms and conditions and subject to existing and applicable
laws of the Republic of the Philippines:
ARTICLE II. Business Purpose: That the purpose/s for which this
partnership is formed are:
a. To organize community based associations particularly the urban poor
sector, and other marginalized groups,
b. To provide livelihood support; housing needs such as community
mortgage programs, socialized housing programs; and other
development assistance to target beneficiaries.
That the partnership shall maintain a capital account record for each
partner; should any partner's capital account fall below the agreed to
amount, then that partner shall (1) have his share of partnership profits
then due and payable applied instead to his capital account; and (2) pay
any deficiency to the partnership if his share of partnership profits is not yet
due and payable or, if it is, his share is insufficient to cancel the deficiency.
That all partners shall provide their services and best efforts on behalf
of the partnership. Except for the Managing Partner, no other partner shall
receive a salary for services rendered to the partnership. However, a
partner may be entitled to reasonable bonuses, duly approved by majority
of the partners but said bonus shall not exceed 10% of the net income
before tax (if any). Should there be differences between the partners
concerning ordinary business matters, a decision shall be made by majority
vote. In any case, no partner shall be able to bind the partnership by act or
contract to any liability exceeding Pesos: Two Hundred Fifty Thousand Pesos
(P 250,000.00), without the prior written consent of each partner.
ARTICLE IX. Sharing Ratios: That the profits and losses of this
partnership shall be divided and distributed proportionately on the ratio of
the capital contribution of each partner.
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Articles of Partnership
Reach Out Community Development Company
CARLYN YU LEONOR
TIN TIN
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Articles of Partnership
Reach Out Community Development Company
ACKNOWLEDGEMENT
NOTARY PUBLIC
Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 2017