ARTICLES OF INCORPORATION

OF

Group of Travel and Tour Agencies of Bohol, Inc.

KNOW ALL MEN BY THESE PRESENTS:

That we, all of whom are of legal age and residents of

the Philippines, have this day voluntarily associated
ourselves for the purpose of organizing the Foundation, a
non-stock and non-profit corporation under and by virtue of
the laws of the Republic of the Philippines, and

WE HEREBY CERTIFY THAT:

First. The corporate name of the Foundation shall be

Group of Travel and Tour Agencies of Bohol, Inc. and
may be popularly called and known as "GTTAB".

Second. The purposes and mission for which the

Foundation is formed are as follows:

To help develop and harness the legitimate travel and

tourism potentials, with special emphasis on providing
legitimate tours and vacation packages for both domestic
and foreign travelers;

To help develop and harness opportunities for inbound

and outbound travel, with special emphasis on representing
all facts, conditions and requirements truthfully and
accurately;

To establish the highest ethical standards in the

packaged travel industry by conducting business in a
manner befitting a true, honest and professional tour
operator and/or travel agent; to establish and promote a
code of ethical standards and professional responsibility
among its members in dealing with one another and the
general public;

To promote our motto Integrity in Travel and Tourism

in accord with the principles of the Foundation by promoting,
advertising and quoting tour-related prices which are
deliverable, moral, just and lawful;

To demonstrate the highest ethical and financial

1
responsibility in the conduct of business and instill
confidence in financial stability, reliability and integrity;

To provide business opportunities and continuing

professional education to its members and to the travel
industry about travel and tours, vacation packages and tour
operation in an environment where members can foster
relationships with one another;

To protect the consumers or the traveling public against

financial loss in the event of a members bankruptcy,
insolvency or fraudulent business transactions;

To adopt, promote and enhance the purposes of the

national tourism development program of the government;

To encourage the responsive involvement of non-

tourism private sector to help promote tourism in the
country;

To support, promote and enhance the spirit of

camaraderie, fellowship and unity among its members; and

To transact any and all other lawful activities which the

Board of Trustees considers appropriate to further the
purposes of the Foundation.

Incidental Purposes

In furtherance of its mission, vision and goal, It may ac-

quire properties, whether real or personal, by purchase,
donation, usufruct, bequest, and/or by other legitimate
means, and encumber or sell such properties for its
legitimate purposes; receive membership fees and dues,
assessments, contributions, gifts, legacies, grants-in-aid,
endowments, subsidies and donations from members, as
well as non-members, from here and abroad; may invest and
expend its funds, moneys and properties in such tourism-
related ventures, projects and activities as the Board of
Trustees may deem proper and necessary in pursuit of its
objectives; and

Generally, as may be permitted by law, may do all such

other acts and exercise such powers and prerogatives as
may be directly or indirectly necessary, suitable and proper
to attain any of the objectives and purposes of the Founda-
tion.

2
 Third. The Foundation is a travel-oriented organization
composed of tour operators and travel agents, tourism-
related entities and individuals. It is non-profit and as such,
no part of its revenues shall be distributed, nor any of its
assets shall ever be used or expended for nor inured to the
benefit of any of its officers or members. The revenues it
may generate incidental to its operation shall, as deemed
necessary and proper under the circumstances, be expended
solely for the furtherance of the purposes for which the
Foundation is organized. The Foundation is non-partisan,
non-sectarian and non-ideological.

Fourth. The principal office of the Foundation shall be

located at the address of the office of the incumbent
Secretary or any other convenient location which the
Foundation may deem appropriate in order to serve and
carry out its objectives.

Fifth. The term for which this corporation shall exist is

fifty (50) years from and after the date of incorporation,
renewable for such other terms as now or may hereinafter be
permitted under the laws of the Republic of the Philippines.

Sixth. The names, nationalities and residences of the

incorporators are as follows:

Name Nationality Residence

Joong Ki A. Song Filipino DOTS Travel &
Tours, Lourdes,
Panglao, Bohol
Bo Gum B. Park Filipino Moonlight Intl.
Travel, J.A. Clarin
Street, Tagbilaran
City, Bohol
Joon Suk C. Lee Filipino W Travel & Tours,
103 CPG Ave.,
Tagbilaran City,
Bohol
Yoo D. Gong Filipino Goblin Travel,
Baclayon, Bohol
Dong Wook E. Lee Filipino Grim Reaper
Travel & Tours,
Gallares Street,
Tagbilaran City
Min Ho F. Lee Filipino Blue Sea Travel,
Tawala, Panglao,

3
 Bohol
Ji Sub G. So Filipino Venus Travel,
Doljo, Panglao,
Bohol

List of additional members, who may be admitted in

accordance with the by-laws of the Foundation, shall be
entered into the Membership Registry and shall be submitted
to the Securities and Exchange Commission from time to
time.

Seventh. The affairs of the Foundation shall be

governed by the Board of Trustees of seven (7) members,
and that the names, nationalities, and residences of the
Trustees, who are to serve as such until their successors
should have been duly elected and qualified in accordance
with the By-Laws, are as follows:

Name Nationality Residence

Joong Ki A. Song Filipino DOTS Travel &
Tours, Lourdes,
Panglao, Bohol
Bo Gum B. Park Filipino Moonlight Intl.
Travel, J.A. Clarin
Street, Tagbilaran
City, Bohol
Joon Suk C. Lee Filipino W Travel & Tours,
103 CPG Ave.,
Tagbilaran City,
Bohol
Yoo D. Gong Filipino Goblin Travel,
Baclayon, Bohol
Dong Wook E. Lee Filipino Grim Reaper
Travel & Tours,
Gallares Street,
Tagbilaran City
Min Ho F. Lee Filipino Blue Sea Travel,
Tawala, Panglao,
Bohol
Ji Sub G. So Filipino Venus Travel,
Doljo, Panglao,
Bohol

Eighth. The Foundation shall be financed, operated,

and maintained by membership fees and dues, assessments,
contributions, gifts, bequests, legacies, donations, grants-in-
aid, endowments, subsidies, as well as interests and other

4
earnings of the legitimate investments of its funds and
assets.

Ninth. Mr. Joong Ki A. Song has been duly elected by

the incorporators as corporate treasurer of the Foundation,
to act as such until her successor has been duly elected and
qualified in accordance with the By-Laws and that, as such
Treasurer, she has been authorized to receive for and on
behalf of the Foundation and to receipt in its name all
membership fees, dues, assessments, contributions, gifts,
bequests, legacies, donations, grants-in-aid, endowments
and subsidies, to support and maintain the operations of the
Foundation..

IN WITNESS WHEREOF, we have hereunto set our

hands this 02nd of February 2017, at Tagbilaran City, Bohol,
Philippines.

Republic of the Philippines )

City of Tagbilaran ) S. S.

BEFORE ME, a Notary Public for and in Tagbilaran City

on this 5th day of February, 2017, personally appeared the
following persons, exhibiting to me their respective
Community Tax Certificates:

Name CTC No. Date Place

Joong Ki A. 07330103 Jan. 4, 2008 Panglao
Song
Bo Gum B. Park 11077597 Feb. 4, 2008 Tagbilaran
City
Joon Suk C. Lee 11057262 Jan. 15, 2008 Tagbilaran
City
Yoo D. Gong 07379009 Jan. 16, 2008 Baclayon
Dong Wook E. 09712099 Jan. 10, 2008 Tagbilaran
Lee City
Min Ho F. Lee 24634146 Feb. 5, 2008 Panglao
Ji Sub G. So 09697232 Jan 4, 2008 Panglao

all known to me and to me known to be the same persons

who executed the foregoing Articles of Incorporation of the
Association of Travel and Tour Agencies of Bohol consisting of
5 pages, this page included, and acknowledged to me that
the same is their own free and voluntary act and deed.

5
 IN WITNESS WHEREOF, I hereunto set my hand and
affixed my notarial seal on the date and place herein first
above written.

GEVIENA PINKY S.
SONG
Notary Public
My commission expires
on December 31, 2017
PTR No. 906760 issued
Jan. 3, 2016
IBP No. 918300 Roll No.
13466

Doc. No. 143;

Page No. 22;
Book No. VI;
Series of 2017

6
 By-Laws

of the

Group of Travel and Tour Agencies of Bohol, Inc.

Article I
Name & Domicile

Section 1. Name: This organization shall be known as the

Group of Travel and Tour Agencies of Bohol, Inc., hereinafter
referred to as the Foundation. It may also be called for short
as GTTAB.

Section 2. Affiliation. The Foundation may affiliate with an

existing national tourism-related organization as it may
deem necessary to carry out its objectives.

Section 3. Domicile. The principal office of the Foundation

shall be located at Moonlight Intl. Travel, J.A. Clarin Street,
Tagbilaran City, Bohol or at any other convenient location
which the Foundation may deem appropriate in order to
serve and carry out its objectives.

Article II
Meetings

Section 1. Annual Meetings - The annual meetings of the

members shall be held at the principal office of the
Foundation or at any other convenient location which the
Foundation may deem appropriate in order to serve and
carry out its objectives on 2nd Thursday of November of each
year. The President shall render his annual report to the
members regarding the activities of the association and the
annual election of officers or trustees shall be held on this
day. The elected officers meeting shall also be held during
this regular meeting.

Section 2. Special Meetings - Special meetings of the

members shall be called, as the need thereof arises, by the
Board of Trustees or the President or upon petition of 1/3 of
the general membership.

Section 3. Notices - Notices of the time and place of

annual, and special meetings of the members shall be given
either personally, by email or by special delivery mail, at
least two (2) weeks before the date set for such meeting.

7
The notice of every special meeting shall state briefly the
purpose or purposes of the meeting.

Section 4. Quorum - A quorum for any meeting of the

members shall consist of a majority of the members and a
majority of such quorum may decide any question at the
meeting, except those matters where the Corporation Code
requires the affirmative vote of a greater proportion.

Section 5. Order of Business - The order of business at the

annual meeting of the members shall be as follows:

a. Proof of service of the required notice of the

meeting.

b. Proof of the presence of a quorum.

c. Reading and approval of the minutes of the

previous annual meeting.

d. Unfinished business.

e. Report of the President.

f. Election of the officers or Trustees for the ensuing

year.

g. Other matters.

Section 6. Voting Proxy - Each member shall be entitled to

one vote, and he may vote either in person or by proxy
which shall be in writing and filed with the Secretary of the
association before the scheduled meeting.

Article III
Declaration of Purpose

Section 1. Purposes of the Foundation. The enduring

purposes for the formation of the Foundation are:

To help develop and harness the legitimate travel and

tourism potentials, with special emphasis on providing
legitimate tours and vacation packages for both domestic
and foreign travelers;

To help develop and harness opportunities for inbound and

8
outbound travel, with special emphasis on representing all
facts, conditions and requirements truthfully and accurately;

To establish the highest ethical standards in the packaged

travel industry by conducting business in a manner befitting
a true, honest and professional tour operator and/or travel
agent; to establish and promote a code of ethical standards
and professional responsibility among its members in dealing
with one another and the general public;

To promote our motto Integrity in Travel and Tourism in

accord with the principles of the Foundation by promoting,
advertising and quoting tour-related prices which are
deliverable, moral, just and lawful;

To demonstrate the highest ethical and financial

responsibility in the conduct of business and instill
confidence in financial stability, reliability and integrity;

To provide business opportunities and continuing

professional education to its members and to the travel
industry about travel and tours, vacation packages and tour
operation in an environment where members can foster
relationships with one another;

To protect the consumers or the traveling public against

financial loss in the event of a members bankruptcy,
insolvency or fraudulent business transactions;

To adopt, promote and enhance the purposes of the national

tourism development program of the government;

To encourage the responsive involvement of non-tourism

private sector to help promote tourism in the country;

To support, promote and enhance the spirit of camaraderie,

fellowship and unity among its members; and

To transact any and all other lawful activities which the

Board of Trustees considers appropriate to further the
purposes of the Foundation.

Incidental Purposes

In furtherance of its mission, vision and goal, It may acquire

properties, whether real or personal, by purchase, donation,
usufruct, bequest, and/or by other legitimate means, and

9
encumber or sell such properties for its legitimate purposes;
receive membership fees and dues, assessments, contribu-
tions, gifts, legacies, grants-in-aid, endowments, subsidies
and donations from members, as well as non-members, from
here and abroad; may invest and expend its funds, moneys
and properties in such tourism-related ventures, projects and
activities as the Board of Trustees may deem proper and
necessary in pursuit of its objectives; and

Generally, as may be permitted by law, may do all such

other acts and exercise such powers and prerogatives as
may be directly or indirectly necessary, suitable and proper
to attain any of the objectives and purposes of the Founda-
tion.

Third. The Foundation is a travel-oriented organization

composed of tour operators and travel agents, tourism-
related entities and individuals. It is non-profit and as such,
no part of its revenues shall be distributed, nor any of its
assets shall ever be used or expended for nor inured to the
benefit of any of its officers or members. The revenues it
may generate incidental to its operation shall, as deemed
necessary and proper under the circumstances, be expended
solely for the furtherance of the purposes for which the
Foundation is organized. The Foundation is non-partisan,
non-sectarian and non-ideological.

Article IV
Membership

Section 1. Classes of Membership: There shall be three (3)

classes of membership in the Foundation:

1. Regular Members
2. Affiliate Members
3. Honorary Members

Regular Membership

Section 2. Regular Members. Any legitimate travel and

tourism-related entity or person engaged in the business of
travel and tours and vacation packages may formally
become regular members of this Foundation

Affiliate Membership

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Section 3. Affiliate Members. Any person or entity which
espouses the goals and objectives of this Foundation, other
than those specified above, may qualify as affiliate member
of the Foundation, provided that it has paid the appropriate
dues and/or assessments promulgated by the Foundation
and its name duly recorded in the official Roster of Members
prepared by the Foundation Secretariat, and provided,
further, that their objectives and activities are in accord with
the purposes, objectives and principles of this Foundation.
Affiliate members may not be officers or trustees of the
Foundation, and may not vote as provided hereof.

Section 4. Honorary Members. Any person or an individual

that complies with the requirements of the Board of Trustees
for Honorary Membership, as from time to time in effect, and
which by this reference are incorporated herein and made
part hereof, is eligible for membership and to continue its,
his or her membership, as Honorary Member of the
Foundation. Honorary members shall not pay dues, may not
be officers or trustees of the Foundation, and may not vote
as provided hereof.

Section 5. Renewal of Membership. Each regular member

shall be required to apply for renewal of membership on or
before January 31 of each year by filing with the Secretariat,
in conjunction with the payment of dues for renewal and a
written membership renewal application, in the form to be
provided by the Foundation. Failure to submit such an
application for renewal including the payment of dues within
the time provided shall result in an automatic termination of
said members membership in the Foundation. Renewal of
membership shall be the responsibility of each member and
shall be made even without prior notice from the Foundation.

Section 5. Requirements for Affiliation. The requirements,

rules and regulations duly promulgated by the Board of
Trustees from time to time shall be adopted by this
Foundation.

Section 6. Voting and Speaking Rights. Regular members, or

their authorized representatives, shall have voting and
speaking rights. Affiliate and honorary members shall have
no voting rights but have speaking rights.

Section 7. Membership Rights. Legitimate members shall

have the right to use the Foundation logo and to participate
in the programs and activities of the Foundation, subject to

11
the limitations and standards established by the Board of
Trustees, as from time to time in effect and which by this
reference are incorporated herein and made a part hereof.

Section 8. Review of Application for Membership. A persons

application for membership shall begin by submission of a
duly-accomplished application form to the Secretariat. The
Board shall review individual applications for completeness
and compliance with applicable requirements and standards
and shall notify the applicant of its decision.

Section 9. Action Required. The affirmative vote of not less

than two-thirds (2/3) of the members of the Board of
Trustees shall be required to approve an application for
membership. The basis for any rejection of an application
form shall be set forth in writing. The Secretariat shall then
notify the applicant of the Boards decision.

Section 10. Voluntary Resignation. A member may resign its

membership in the Foundation at any time by filing a written
resignation with the President or his designee; provided such
resignation shall not relieve the resigning member of the
obligation to pay any dues or other charges theretofore
accrued and unpaid.

Section 11. Automatic Removal. The occurrence of any one

or more of the following circumstances shall be grounds for
automatic termination of the membership of a member:

1. Failure to pay any and all dues to the Foundation.

2. Failure to continue to actively, and on an ongoing basis,
engage in the business upon which the membership is
based.
3. Failure of any member to comply with, maintain, keep
in effect and/or meet the requirements and standards
set forth in these By-laws and as established by the
Board of Trustees, as from time to time in effect, and
which by this reference are incorporated herein and
made a part hereof.

Section 12. Notice of Automatic Removal. Upon occurrence

of an event which is a basis for the automatic termination of
membership, the President or his designee shall cause
written notice to be given to the member and the specific
grounds therefore. If the terminated member has reason to
believe that there has not been an occurrence of an event
which created the grounds for termination, the member may

12
request for reconsideration.

Section 13. General Grounds for Removal. A member may be

removed from membership (1) for any violation of the
Foundations Code of Ethics as prescribed by the Board of
Trustees, (2) for conduct or business practices which
adversely affect the travel industry, (3) conduct unbecoming
of a law-abiding citizen, or (4) the failure of a member to, at
any time, maintain the standard, qualifications and
requirements which are necessary to be initially considered
for membership.

Section 14. Procedure for Suspension, Expulsion and

Termination of Membership. The Board of Trustees shall have
jurisdiction over cases of suspension, expulsion and
termination of membership for reasons other than grounds
for automatic termination of membership. In the event the
Foundation receives a complaint against any member, the
complaint shall be referred to the President for consideration
and disposition pursuant to the provisions of the Procedure
for Complaint Disposition adopted by the Board of Trustees.
The affirmative vote of not less than two-thirds (2/3) of the
members of the Board shall be required for suspension,
expulsion or termination of membership; Provided that
where the penalty is expulsion, the affirmative vote of
majority of all the members of the Foundation shall be
necessary. If the member proposed for termination is also an
officer of the Foundation, said member shall not be
considered as an officer for the purposes of the removal
proceedings and shall not be counted in determining
whether or not a quorum is present at the meeting called for
the purpose, and shall not be permitted to cast a vote on
such removal order or resolution. The Board shall set forth
findings of fact and conclusions as to the violations of the
provisions of the By-laws and/or improper conduct. The
findings of fact and conclusion shall be mailed by registered
mail, or sent by email to the removed member. The decision
of the Board as expressed in any order or resolution of
removal shall be final, unappealable and binding on the
affected member.

Article V
The Board of Trustees

Section 1. Composition of the Board. There shall be the

Board of Trustees of seven (7) members, directly elected
every year by the general membership in a general

13
membership meeting duly called for this purpose, provided
that only voting members in good standing shall be entitled
to vote.

Section 2. Functions of the Board. The Board of Trustees, by

its lawful acts in the form of board resolutions, adopted and
passed while duly assembled, shall govern the affairs of the
Foundation; it shall promulgated policies, rules and
regulations for the responsive operation of the Foundation;
and shall act on all such issues and concerns as may be
properly brought to the attention of the Board.

Section 3. Officers of the Board. There shall be the Board

Chairman, the Board Vice-Chairman and the Corporate
Secretary, who shall discharge the functions, with the
corresponding authorities inherent upon their respective
offices, as well as those that may be properly delegated to
the Board by the general membership. The Board Chairman
may concurrently serve as President of the Foundation.

Article VI
Executive Officers

Section 1. Elective Officers. The following elective executive

officers of the Foundation shall be elected by the general
membership:

President
Vice President
Secretary
Treasurer
Auditor

Section 2. The Appointive Officers and Staff. When the need

arises, the Board of Trustees may appoint an Assistant
Secretary, Assistant Treasurer, and an Executive Director,
who shall be the chief operating officer of the Foundation,
and such other personnel of the Secretariat as may be
needed.

Section 3. Duties and Authority. The Foundation executive

officers shall discharge all the duties and functions inherent
upon their respective offices, and such other duties and
functions as may be properly delegated to them by the
Board of Trustees, with the corresponding authority.

Section 4. Term of Office. Elective officers of this Foundation

14
shall hold office for a term of one (1) year, provided that in-
cumbent officers upon ratification of these By-Laws shall
hold office up to 31 December 2018. All outgoing officers
may succeed themselves if qualifications are still valid.

Section 5. Special Committees. The Board of Trustees shall

form the following committees which are deemed to be
necessary in the conduct of the affairs of the Foundation,
and shall appoint chairpersons for each.

1. Committee on Finance
2. Committee on Recruitment and Membership
Development
3. Committee on Ethics
4. Committee on Public Affairs
5. Committee on Special Projects

Article VII
The General Membership Meeting

Section 1. Supreme Authority. The General Membership

Meeting shall constitute the supreme authority in the
organizational structure. It shall direct the affairs of
Foundation through policy formulations which shall be
implemented by the Foundation. As the supreme authority,
the Assembly shall retain all rights and privileges not
specifically assigned to the Foundation officers.

Section 2. Composition. The General Assembly shall be

composed of all members in good standing.

Section 3. Powers and Prerogatives. The General Assembly

shall have the exclusive powers and prerogatives to act on
any or all of the following matters:

a. Ratify all legitimate official acts of the Board of Trustees

for the purpose of carrying out the objectives of the
Foundation;
b. Consider and act on issues and concerns affecting the
travel industry;
c. Any matter that may properly be brought to it by the
Foundation; and
d. Such other matters as may be necessary and proper to
effectively attain the aims and purposes of the
Foundation.

Article VIII

15
 Meetings & Quorum

Section 1. The General Membership Meeting. The General

Membership Meeting shall be held once every month on a
date and venue to be determined by the Board of Trustees,
which shall promulgate policies for the development and
promotion of travel and tourism, and ratify the acts of the
incumbent Foundation officers. Special meetings may be
called by the Foundation as the need arises.

Section 2. The Board Meeting. The Board of Trustees shall

meet regularly every month, the date, time and venue to be
determined by the Board during its preceding meeting.
Special Board meetings may be called by the Chairman
anytime as the need arises.

Section 3. The Executive Committee. The Executive

Committee, composed of the elected executive officers of
the Foundation, shall meet every month on a date and venue
to be determined by the President, to act on urgent matters,
provided that all actions of the Executive Committee shall be
reported to the Board of Trustees for ratification during the
latter's meeting immediately following the Executive
Committee meeting.

Section 4. Quorum. Simple majority of those members in

good standing who are entitled to vote, represented in
person by a duly designated representative in attendance,
shall constitute a quorum for transaction of any business. A
plurality of the votes cast will be sufficient for voting and
transaction of any other business.

Article IX
Fiscal Matters

Section 1. Annual Dues. New members shall be assessed a

one-time payment of Two Thousand Five Hundred Pesos
(P2,500.00) each upon approval of application for
membership. All members of the Foundation shall pay
annual dues of One Thousand Five Hundred (P1,500.00) each
or in such amount as may be deemed appropriate by the
Board of Trustees from time to time. A special monthly
assessment of Two Hundred Fifty Pesos (P250) shall be
collected from each member to be paid on or before each
monthly meeting.

Section 2. Power to impose Dues and Assessments. The

16
Foundation may impose additional dues and/or special
assessments to be collected from the members of the
Foundation, subject to the approval of the general
membership.

Section 3. Deadline for Payments. Annual dues shall be paid

in full on or before January 31 of the current year; all other
dues and assessments shall be paid within the period
specified in the call for such payments. All members who fall
to satisfy their financial obligations to the Foundation shall
be suspended from any participation in the Foundation
activities; reinstatement may only be effected upon payment
of the obligation and upon approval by the Board of Trustees.

Section 4. Other Revenues. The Foundation may accept

donations, legacies and bequests from legitimate sources,
either in cash or in kind.

Section 5. Budget. The Executive Committee shall prepare

and submit to the Board of Trustees the proposed operating
budget for the ensuing fiscal year.

Section 6. Remuneration. No officer and member of the

Foundation shall receive any remuneration whatsoever for
services rendered to the Foundation; provided, however, that
the Executive Director, and members of his staff, if any, shall
be entitled to salaries and wages duly approved by the
Board of Trustees.

Article X
Supremacy Clause & Waiver

No provision of these By-Laws shall be waived, suspended,

superseded, or in anyway rendered ineffective by virtue of
any resolution, action, or otherwise inaction of any officer or
member of the Foundation. Violation of this provision shall
render all such acts pursuant thereto null and void ab initio,
and the officers and/or member enforcing, or claiming any
right or defense under the same shall be subject to
sanctions, suspension or expulsion from the Foundation.
Expulsion shall require the three-fourths vote of the mem-
bers of the Board of Trustees physically present, duly
assembled and in session, in any meeting called for the
purposes.

Article XI
Amendments

17
Section 1. Method. Upon recommendation of the Board of
Trustees, these By-Laws may be amended, modified, altered
or repealed by the majority vote of the total voting
membership in good standing personally present in any
regular or special meeting called for the purpose.

Article XII
Dissolution

In the event of the dissolution of the Foundation, the

principal assets of the Foundation, after the payment of all
debts and expenses, shall be transferred to a tax-exempt
organization or to the Republic of the Philippines, as the
Board of Trustees may so determine.

Article XIII
Effectivity and Transition

Section 1. Effectivity. These By-Laws shall take effect upon

the approval the general membership.

Certification

These By-Laws including the Articles of Incorporation have

been approved and adopted by the Board of Trustees and
ratified by the incorporators on February 02, 2017 duly
assembled and in session at The Kew Hotel, Tagbilaran City,
Bohol. The same shall be presented to the general
membership for ratification.

Members of the Board of Trustees and Incorporators:

Name Nationality Residence

Joong Ki A. Song Filipino DOTS Travel &
Tours, Lourdes,
Panglao, Bohol
Bo Gum B. Park Filipino Moonlight Intl.
Travel, J.A. Clarin
Street, Tagbilaran
City, Bohol
Joon Suk C. Lee Filipino W Travel & Tours,
103 CPG Ave.,
Tagbilaran City,
Bohol
Yoo D. Gong Filipino Goblin Travel,
Baclayon, Bohol

18
Dong Wook E. Lee Filipino Grim Reaper
Travel & Tours,
Gallares Street,
Tagbilaran City
Min Ho F. Lee Filipino Blue Sea Travel,
Tawala, Panglao,
Bohol
Ji Sub G. So Filipino Venus Travel,
Doljo, Panglao,
Bohol
Adopted this 02 day of February 2017 in Tagbilaran
nd

City by the affirmative vote of the undersigned members

representing a majority of the members of the Board of
Trustees in a special meeting duly held for the purpose.

(Sgd.) Joong Ki A. Song (Sgd.) Bo

Gum B. Park

(Sgd.) Joon Suk C. Lee (Sgd.) Yoo

D. Gong

(Sgd.)Dong Wook E. Lee (Sgd.) Min Ho

F. Lee

(Sgd.) Ji Sub G. So

February 02, 2017

Date

Signed in the Presence of:

(Sgd.) Go Eun I. Kim (Sgd.) Sunny J. Kim

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(BY-LAWS)

Republic of the Philippines )

City of Tagbilaran ) S.S.

Secretarys Certificate

I, Bo Gum B. Park, of legal age, Filipino, resident of c/o

Moonlight Intl. Travel, J.A. Clarin Street, Tagbilaran City,
Bohol, in my capacity as Corporate Secretary of Group of
Travel and Tour Agencies of Bohol, Inc., now pending
registration with the Securities and Exchange Commission,
hereby certify that the following Board of Trustees resolution
was approved and adopted during the special meeting of the
Board on Febrruary 02, 2017 held at Tagbilaran City, there
being a quorum to validly transact business, to wit:

Resolution. No. 2008-01

RESOLVE, as it is now hereby resolved, that the Foundation

shall faithfully comply with the S.E.C. Requirements for Non-
Stock Corporations dated February 02, 2017 in the course of
its operation.

I further certify that the above Resolution has not been

amended, superseded nor repealed.

Bo Gum B. Park
Corporate Secretary

SUBSCRIBED AND SWORN TO before me this 05th day of

February, 2017 after affiant, exhibited to me his/her

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Community Tax Certificate No. 11077597, issued at
Tagbilaran City, Bohol on January 28, 2017.

GEVIENA PINKY S.
SONG
Notary Public
My commission expires
on December 31, 2017
PTR No. 906760 issued
Jan. 3, 2016
IBP No. 918300 Roll No.
13466
Doc No. ______
Page No. _____
Book No. _____
Series of 2017.
(Articles of Incorporation and By-laws of the Group of
Travel and Tour Agencies of Bohol consisting of 19 pages)

Adopted this 2nd day of February, 2017 at The Kew

Hotel, Tagbilaran, City by the affirmative vote of the
undersigned members representing a majority of the
members of Foundation in a special meeting duly held for
the purpose.

Name of Voting Company Name Signature

Member
Carmen McTavish Angeles Intl
Travel Ctr
Belen Guzman Ecozone Travel
Lilia Gomez CVG Travel
Gina Quintana Majika Travel
Mariss Cura MRC Travel
Pacienca Gozum Go-Paz Travel
Rita Dizon Executive Class
Gloria de Guzman GL de Guzman
Howard Ketley One Stop Travel
Gizelle de Guzman Golden Compass
Annabelle David Eurogate Travel
Cecil Concepcion Le Grand Travel
Atty. Leonor Swagman Travel
Infante
Gilda Padua Ties That Travel
Emerson Co Easy & Fun
Travel

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Marcia Hernandez Global Access
Travel
Ana Marie Castro Castro Travel
Solutions

This certifies that this document contains twenty two

(19) pages including this page.

Signed this 05th day of February, 2017, Tagbilaran City,

Philippines.

(Sgd.)Bo Gum B. Park

Corporate Secretary

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