Section 9Sec./Art. 9

Paid-up Capital. - A pre-need company incorporated after the effectivity of this Code shall have a minimum paid - up capital of One hundred million pesos (P100, 000,000.00). Existing pre-need companies shall comply with the following minimum unimpaired paid - up capital:

(a) One Hundred million pesos (P100, 000,000.00) for companies selling at least three(3) types of plan;

(b) Seventy - five million pesos (P75, 000,000.00) for companies selling two (2) types of plan; and

(c) Fifty million pesos (P50, 000,000.00) for companies selling a single type of plan.1avvphi1

Existing pre-need companies with traditional education plans shall have a minimum unimpaired paid-up capital of One hundred million pesos (P100, 000,000.00)

The Commission may adopt risk - based principles on capital adequacy based on internationally accepted standards. In the exercise of its authority under this paragraph, the Commission may prescribe a higher minimum unimpaired paid - up capital for pre-need companies.