	Beth Anne Gray J., LL.B. (Hons.) P.O. Box 832-0816 - World Trade Centre - Panama City - Republic of Panama International Legal Services

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Restricted Words - Names of Corporations

Decreto Ley 9 (The Banking Act): see Article 24. This restricts the use of the word "Bank" or any derivative thereof, unless authorised by the Superintendence of Banking. For example: Bank, Building Society, or Credit Union.

Law 20 (November 24, 1986): Article 1. Restricts the word "Financiera", and therefore the Public Registry only allows the use of the words "Finance" or "Financial" in company names where authorised by the Ministry of Commerce & Industry or where the Articles of Incorporation specify that the company will not be offering financial services.

Law 59 (July 29, 1996): Article 4. Restricts the use of the word "Insurance" or any word which may connote that it is an insurance company, product, broker or any type of company that undertakes the insurance business. It is therefore not possible to use "Assurance" or "Insurance", unless authorised by the Superintendence of Insurance.

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Last modified 21-Sep-2010 11:04 -0400