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AMENDED ARTICLES of INCORPORATION of the PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED

Know All Men By These Presents: The undersigned incorporators, all of legal age and majority of whom are residents of the Philippines, have this day voluntarily agreed to form a non-stock and non-profit professional association under the laws of the Republic of the Philippines

THAT WE HEREBY CERTIFY: FIRST: That the name of this corporation shall be: PHILIPPINE INSTITUTE of REAL ESTATE SERVICE PRACTITIONERS (PhilRES) INCORPORATED

SECOND: The Primary Purpose for which the non-stock and non-profit professional association was incorporated is:

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To register, unite and integrate all licensed and registered real estate service practitioner and as well as associations in the Philippines into one national body, in accordance with the provisions of Section 34, Article IV of R.A. 9646. To insure the accomplishment of the purposes, duties and responsibilities prescribed in RA 9646 and its Implementing Rules and Regulations; To take into consideration and observe the relevant Rules in Res. No. 2004-178, Series of 2004, particularly Rule 4 thereof (Cancellation of Accreditation) which reads: A Certificate of Accreditation of an accredited professional organization shall be cancelled or suspended by the Commission or by any concerned professional regulatory board upon approval or concurrence by the commission, ONLY AFTER DUE HEARING UNDER ANY OF THE FOLLOWING GROUNDS/CAUSES, such as, 5. The Accredited Professional Organization has not renewed its certificate of accreditation after a lapse of an unreasonable period from date of its renewability xxx; To consider and not to bar the automatic and mandatory membership of registered member from joining any other affiliate organization of real estate practitioners;
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The Secondary Purposes for which the corporation was incorporated are: 1. To issue certifications of membership in good standing upon payment of the fees and dues, lifetime or annually, to the licensed and registered members thereof, for presentation to the Professional Regulation Commission (PRC) for renewal of their Professional Identification Cards; To promote and maintain high standards of professional and ethical conduct in the exercise of the real estate profession; To keep an updated record, roster, roll and registry of all its licensed and registered members; To charge and collect reasonable fees and dues from its licensed and registered members and to provide them with all the benefits and privileges due them as members; To motivate and encourage the licensed and registered members to undergo the Continuing Professional Education (CPE) programs, activities and courses for the advancement of the real estate service profession; To conduct comprehensive reviews, meetings, seminars, educational courses, symposiums, forums and workshops preparatory to licensure examinations and which are requirements of the CPE; To adopt, develop and enforce the National Code of Ethics and Responsibilities in the practice of the real estate service profession among its licensed and registered members, their responsibility to the public, the clients and the government and to the professional organization (AIPO);; To assist the Professional Regulatory Board on Real Estate Service (PRBRES) and the PRC in their function of safeguarding and protecting the legitimate and licensed real estate practitioners and assist the PRBRES and the PRC in monitoring all forms of advertisements, announcements, signboards, billboards, pamphlets, brochures and others of similar nature concerning real estate matters; To seek affiliations with other domestic and international real estate organizations whose purposes are also in accordance the association's own objectives and the provisions of RA 9646 and other related Philippine Laws on real estate service practice; To perform such other lawful functions as may be directed and upon approval by the Professional Regulatory Board of Real Estate Service (PRBRES) and the Professional Regulation Commission (PRC) pursuant to Sec. 34, Art. IV of R.A. No.9646; To coordinate with other government agencies, departments, government owned or controlled corporations or entities, as well as with other professional organizations, and recommend amendments, repeals, sponsorship of laws and
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or proposed Bills, ordinances or regulations, involving or affecting the real estate industry; 12. To develop, set up, train, screen, evaluate and provide a pool/list of qualified resource persons necessary to fully service and satisfy all the academic and technical and other skills required to fully administer and render Continuing Professional Education (CPE) program requirements of all its members; To accept and administer grants, bequests, bequeaths and personal properties, whether in cash or other property, movable or immovable and, endowments for the promotion of the aims of the association. To manage all assets and resources of the association for useful purposes and which will be beneficial to the association and its members; To acquire, purchase, own, hold, operate, develop, lease, mortgage pledge, exchange, sell and transfer in any manner provided by law, real and personal property, or any interest therein, as may be necessary and subject to the terms, stipulations, and conditions as the National Directorate may impose and which are necessary and proper in carrying out the associations objectives;

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15. To receive assignments of copyrights and other intellectual property rights and to charge and collect reasonable fees or charges for their uses; 16. To be a recipient of titles of properties and to hold and use the proceeds and income of stocks, bonds or other securities of any entity, organization or association, domestic or foreign for the benefit of the association and its members; To open any and all kinds of bank accounts, investment accounts or trusts and to invest the associations funds to businesses and activities which PhilRES deems necessary and proper and for purposes for which it was formed and for the benefit of its members; To establish a corporation, foundation or association which will help, assist and cooperate with PhilRES in all its activities and which will redound to the advancement of its members in the real estate profession.

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THIRD: The principal business office of PhilRES shall be at PHALTRA Bldg., #139 Matahimik St., UP Village, Quezon City, Metro Manila 1100, Philippines or at such other address/place as the National Directorate may designate from time to time:

(As Amended on 13 July 2011)

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