Treasurer's Affidavit

A Treasurer's Affidavit or a Treasurer's Certificate is a document that is subscribed and sworn to by the Treasurer of a corporation to certify the amounts subscribed and paid by the subscribers for stock corporations. It is one of the requirements for the increase of the authorized capital stock for stock corporations.

The Treasurer is an officer of the corporation in charge of the management of the financial affairs of the corporation.

Subscribed stock pertains to shares of stock that investors have committed to purchase but have not yet been issued by the corporation, while paid stock pertains to those already paid by the shareholders and have already been issued by the corporation.

Take note that a Treasurer's Affidavit is required to establish that at least twenty-five percent of the corporation's authorized capital stock has been subscribed, and at least twenty-five percent of the subscribed capital stock has been paid

How to use this document

A Treasurer's Affidavit contains the following information:

• The details of the Treasurer including his identification,
• The details of the Corporation,
• The amount of increase of the authorized capital stock and the amount subscribed, and paid, and
• The mode of payment

At least three copies of the document should be printed, then the Treasurer should then go to a notary public, with an ID that was issued by an official agency and bears the photograph and signature of the Treasurer. Thereafter, the Treasurer should subscribe and swear to the contents of the document and sign the same in the presence of the notary public.

Once the Treasurer has signed the document, the notary public will affix their seal and also sign the document. The notary public will keep one original copy of the document.

The Treasurer should keep at least one original copy for the records of the corporation. One original copy may be submitted to the Securities and Exchange Commission with other documentary requirements such as the Articles of Incorporation for stock and non-stock corporations.

Applicable law

Laws relating to Corporations are governed by the Revised Corporation Code of the Philippines. However, other laws, such as but not limited to the 1987 Constitution of the Republic of the Philippines, the Foreign Investments Act, specifically the Foreign Investment Negative List, and the Anti-Dummy Law, may affect the ownership and board membership requirements of a corporation, depending on the business of the corporation.

Affidavits are governed by the 2004 Rules on Notarial Practice. It should also be noted that making untruthful statements in a notarized affidavit may be punishable under the Revised Penal Code of the Philippines.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.