Professional Documents
Culture Documents
- versus
PAUL SYCIP and MERRITTO
LIM,
Respondents.
Promulgated:
August 17, 2006
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DECISION
PANGANIBAN, CJ.:
Code
is
based
on
the
number
of outstanding
[5]
The hearing officer also opined that Article III (2) [11] of the ByLaws of GCHS, insofar as it prescribed the mode of filling vacancies in
the board of trustees, must be interpreted in conjunction with Section
29[12] of the Corporation Code. The SEC en banc denied the appeal of
petitioners and affirmed the Decision of the hearing officer in toto. [13] It
found to be untenable their contention that the word members, as used
in
Section
52[14] of
the
Corporation
Code,
referred
only
to
Issues
Under
the
Corporation
Code,
stockholders
or
members
periodically elect the board of directors or trustees, who are charged with
xxx
xxx
mentioned
in
Section
52
on
the
number
Members vote as persons, in accordance with the law and the bylaws
We hold that when the principle for determining the quorum for
of
incorporation,
it
would
have
expressly
specified
so. Otherwise, the only logical conclusion is that the legislature did not
have that intention.
SO ORDERED.