Can corporation become a partner in partnerships?

With the Revised Corporation Code,

In a recent ruling, the Securities and Exchange

Commission (SEC) clarified that while the RCC does not
impose restrictions on the nationality of the members of
the board, the provisions of the corporation’s constitution
and by-laws, applicable special laws, and relevant rules
and regulations of the regulatory agencies may do so.
Who are the corporate officers and what are their qualifications?

President

The President must be a director. As a director, he must own at least 1 share or at least it should be
listed in his name as owner, and if it is a non-stock corporation, he must be a member thereof. Every
director/trustee must continuously own at least a share during his term or be a member. He must not
have been convicted by final judgment of an offense punishable by a period in excess of six (6) years or a
violation of the Revised corporation code, committed within a period of five (5) years prior to the date of
election. He must be a Filipino citizen in the instances required by law. Finally, he must possess such
other qualifications as may be prescribed in the by-laws of the corporation.

Treasurer

The treasurer may or may not be a director, but he/she must be a resident of the Philippines. He/she
must not be the president of the corporation. The president cannot be a treasurer and president at the
same time.

Secretary

The secretary must be a resident and citizen of the Philippines. He/she must not be the president of the
corporation because the president cannot be a secretary at the same time.

Compliance Officer

The Revised corporation code also provides that if the corporation is vested with public interest, the
board shall also elect a compliance officer.