Eternal Plans gets new license

The Securities and Exchange Commission has issued an order renewing the registration of Eternal Plans, Inc. as a dealer in pre-need fixed value education, life and pension plans. This makes Eternal Plans the first pre-need company to be awarded a dealer’s license for 2009.

The SEC requires pre-need companies to renew their dealer’s license every year for them to sell pre-need plans, subject to compliance with pertinent rules and regulations. Companies that do not comply with all the requirements or that have trust fund deficiencies do not get a dealer’s license.

Director Jose P. Aquino of the SEC’s Non-Traditional Securities and Instruments Department, who signed the SEC order, said the renewal was made “considering that the applicant (Eternal Plans) has complied with all the requirements prescribed by applicable rules and regulations.”

Elmer M. Lorica, president and chief operating officer, said every year, Eternal Plans has been one of the pre-need companies whose license is renewed earlier than most. “This year, we are the first. This, for us, is not only an

affirmation of the company’s compliance with the rules and regulations, but also a certificate of clean bill of corporate health and of good standing from the SEC,” Lorica said.

Eternal Plans is a member of the Eternal Group of Companies founded by Ambassador Antonio L. Cabangon Chua. It has been in operation for 27 years.