The Department of Finance (DOF) has reaffirmed that the Bureau of Fire Protection Mutual Aid and Beneficiary Association Inc. (BFPMBAI) is operating illegally as a mutual benefit association (MBA).
The Department of Finance has reaffirmed that the Bureau of Fire Protection Mutual Aid and Beneficiary Association Inc. is operating illegally as a mutual benefit association .
“In the administrative case filed before the IC, BFPMBAI argued that it was not operating as an MBA, but as a mutual aid and beneficiary association organized under Section 30 of the National Internal Revenue Code and denied that it is not engaged in the provision of insurance benefits because its members are covered by policies issued by a private insurance company,” said IC.
The IC also said the DOF agreed that based on records, “BFPMBAI complied with all the requisites to be considered as a mutual benefit association as stated in Section 430 of the Insurance Code, thereby affirming the IC’s findings of illegal business operations.” The IC said Dominguez affirmed that “any procedural defect that occurred in the proceedings was subsequently cured by BFPMBAI’s filing of a motion for reconsideration and its appeal to the DOF, pursuant to a Supreme Court ruling.”
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