Proprietary Membership

LIST OF REQUIREMENTS FOR PROPRIETARY MEMBERSHIP

  • Complete Documents for the Transfer of Share to the Applicant
    • (Please see a separate list of complete requirements for the above)
  • Application Form for Membership
    • Filled up & signed by the Applicant
    • Signed by the Proposer & Seconder (Both Proprietary Members)
  • 1 x 1 size picture (white back ground) including dependents (2 copies each) for membership cards
  • One Wallet Size Picture (of Applicant) for Posting.
  • Birth Certificate of Dependents/Marriage Contract NSO Certified Copy (for Husband/Spouse)
  • Photo copy of 2 valid ID
  • Valid Passport (to be photocopied at the membership office) – if Foreigner

*** Monthly dues 3,584.00 ***


TRANSFER OF SHARE

• Stock Certificate duly endorsed.
• Deed of Sale/Transfer/Donation containing the following:

o Signature of the Vendor
o Signature of the Vendee
o Signed by the Witnesses
o Amount of consideration
o Notarized
o Marital consent of spouse (if seller is an individual)

• Board Resolution authorizing the sale of the share & designating a signatory to the Deed of Sale/Endorsement (if vendor is a corporation)
• Secretary’s Certificate authorizing the Corporation to purchase share or sell the share (if vendee is a corporation)
• Proof of payment of Capital Gains Tax, Receipts and BIR Certification (if any) filed with the Bureau of Internal Revenue.
• Full settlement of the account of the Vendor with the Club.
• Photocopy of 2 Valid ID. (Passport for Foreigner) Both Seller and Buyer
• Payment of Transfer fee in the amount of:

o P11,200.00 for transfers within the family (first degree of consanguinity) or to a corporation where the transferor is the major stockholder or with controlling interest in the company.
o P112,000.00 for transfers which are not within the family.
o P224,000.00 for transfer for foreigner

Note:
Submit the ORIGINAL of above documents


TRANSFER OF SHARE FROM A DECEASED STOCKHOLDER TO HIS/HER HEIR(S)

The transfer of a deceased stockholder’s shares and issuance of new stock certificate/s to his/her heir/s may be done judicially (through court proceedings) or extra-judicially (out-of-court settlement).

• If the estate of the deceased stockholder is settled judicially, whether testate (with a Will) or intestate (without a Will), the heirs will have to submit the following:

o Original certificate/s of the deceased stockholder’s shares of stock.
o When there is a Will, a certified copy of the Will and the final Court Order probating the same, together with a certified copy of the Project of Partition and the final Court Order approving the same.
o When there is no Will, a certified copy of the Project of partition and the final Court Order approving the same.
o Payment of Transfer fee in the amount of P11,200.00 for transfers within the family (first degree of consanguinity)

• If the estate is settled extra-judicially, the heir(s) will have to execute a Deed of Extra-Judicial Settlement (DEED) or an Affidavit of Self-Adjudication (AFFIDAVIT), if there is only one heir.
• The heir(s) must have the DEED or AFFIDAVIT, as the case may be, registered with the Register of Deeds of the decedent’s last known residence.
• The heir(s) must also have a notice of the estate’s settlement published in a newspaper of general circulation once a week for three (3) consecutive weeks.
• The heir(s) will have to submit the following:

o The original certificate/s of the deceased stockholder’s shares of stock.
o A copy of the Certificate of Death.
o An originally signed or certified copy of the DEED or AFFIDAVIT, as the case may be, duly annotated by the Register of Deeds.
o Affidavit of publication by the publisher of the newspaper in which the notice of extra-judicial settlement had been published.
o Certification from the Commissioner of Internal Revenue attesting to the payment or exemption from payment of the estate tax, as required by the National Internal Revenue Code.
o Expiration of two (2) year from the date of registration with the Register of Deeds or in lieu thereof, a bond or other security for a period of two (2) year for a sum and in such form and with such securities as may be satisfactory to the Board of Directors.
o Payment of Transfer fee in the amount of P11,200.00 for transfers within the family (first degree of consanguinity)


PROPRIETARY MEMBERSHIP APPLICATION FORM

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