What is the correct status regarding partnerships under "expired" status with the SEC in terms of incorporators?

In the context of the Revised Corporation Code and the treatment of partnerships under "expired" status with the Securities and Exchange Commission (SEC), partnerships that have expired lose their legal personality to operate. As a result, the partners or incorporators associated with such an expired partnership are not in a position to be considered for incorporation under new entities without first addressing their status.

When a partnership is in an expired status, it suggests that it has not complied with certain regulatory requirements, which precludes its partners from having the authority to serve as incorporators for a new corporation. This provision ensures that only those individuals or entities with a valid and compliant status can be involved in forming corporations. Therefore, anyone who is associated with an expired partnership does not automatically gain the rights to incorporate a new entity until the partnership is reactivated or its legal issues are settled.

This situation means that any individuals linked to a partnership that is no longer recognized cannot transition into the role of incorporators without reverting their partnership to a compliant and active standing. Hence, the understanding that those from an expired status cannot serve as incorporators reflects the regulatory framework meant to uphold legal and operational integrity within business formations.