Section 145Sec./Art. 145

Rsident Agent; Service of Process. - As a condition to the issuance of the license for a foreign corporation to transact business in the Philippines, such corporation shall file with he Commission a written power of attorney designating a person who must be a resident of the Philippines, on whom summons and other legal processes may be served in all actions or other legal processes may be served in all actions or legal proceedings against such corporation, and consenting that service upon such resident agent shall be admitted and held as valid if served upon the duly authorized officers of foreign corporation shall likewise execute and file with the Commission an agreement or stipulation, executed by the proper authorities of said corporation, in form and substance as follows:

"The (name of foreign corporation) hereby stipulates and agrees, in consideration of being granted a license to transact business in the Philippines, that if the corporation shall cease to transact business in the Philipines, or shall be without any resident agent in the Philippines on whom any summons or other legal process may be served, then service of any summons or other legal process may be made upon the Commission in any action or proceeding arising out of any business or transaction which occurred in the Philippines and such service shall have the same force and effect as if made upon the duly authorized officers of the corporation at its home office."

Whenever such service of summons or other process is made upon the Commission, the Commission shall, within ten (10) days thereafter, transmit by mail a copy of such summons or other legal process to the corporation at its home or principal office. The sending of such copy by the Commission shall be necessary part of and shall complete such service. All expenses incurred by the Commission for such service shall be paid in advance by the party at whose instance the service is made.

It shall be the duty of the resident agent to immediately notify the Commission in writing of any change in the resident agent's address.