1) Accomplished application form (duly notarized)
2) SEC Certificate of Registration of Articles of Incorporation and By-Laws
3) Certificate or Registration with the following agencies:
a) Bureau of Internal Revenue (BIR)
b) Office of the Mayor/ Municipal Permit
c) Social Security System
4) Books of Accounts to be used in the transaction of association, duly registered with the BIR
a) General Journal
b) General Ledger
c) Cash Receipt
d) Cash Disbursement
5) List of Officers, Board of Directors, personnel and its members and positions held
6) Organizational Chart
7) ITR for the preceding year and curriculum vitae of the officers, members of the Board of Directors, Accountant, Actuary and External Auditor
8) Floor Plan and Lease agreement of the office space, if any
9) Inventory of equipment, furniture and fixtures
10) Paid-Up Capital
11) Deposit the amount of PHP10,000.00 in government securities as Guaranty Fund
12) Submit Fidelity Bond of accountable officer/s
13) Bank account/s of the association
14) Execute waiver in favor of the Insurance Commission to verify the existence of associations capital deposit with its depository bank/s.
15) Clearance from NBI of the officers and Board of Directors
16) Pre-Operational Balance Sheet
17) Minutes of the organizational meeting of the Board of Directors
18) Documentary Stamp
19) Pre-Licensing Examination
20) PHP150.00 License Fee
Actuarial Requirements
1) Actuarial Projection prepared and signed by a duly accredited actuary showing probable income and outgo, reserve requirements, enumerating the actuarial assumptions and bases thereof
2) Governing rules and regulations of the association
3) Copy of membership application form
4) Certificate of Membership or Certificate or Insurance Certificate form showing the benefits
5) List of Members
6) List of Reinsurers
7) Draft/Copy of reinsurance agreement
NOTE: Commission should be furnished with any notice and substance of amendments to any required documents.