SCCC By-Laws' Official Announcement - 2013 Annual Meeting

UPDATE (08/27/13):  2013 Annual Financial Audit

- also see links to the previous audits on the right side of the blog page.

Please spread this message.  I have scanned every annual financial statement and the annual meeting packets when the mismanagement of the building has not done so for the Unit Owners.  This is the first year we were able to get the audit scanned ahead of the meeting.
You may want accountants to review this and past audits.  Please let us know of any items that need focus and attention.

 

SCCC By-Laws' Official Announcement - 2013 Annual Meeting

The Annual Meeting will take place on August 30 for the 2013 Annual Meeting as called for in the Soho Central Condominium Corporation's By-Laws.  The 2012 Annual Meeting was illegally moved with no explanation and no punishment for the By-Laws change.  The Unit Owners (members) must be prepared for this year.

We must continue with the meeting and disregard any illegal moves not approved in the By-Laws.

 

By-Laws of Soho Central Condominium Corporation - Meetings of Members

 

"Section 5. Annual Meeting. -The annual meeting of the members of the corporation for the election of directors/trustees and such other matters pertaining to the corporation shall be held at the principal office of the corporation at Mandaluyong City, Philippines or at such other place that the Board may determine, on the Last Friday of August of each year. Should a scheduled meeting be a legal holiday, the annual meeting shall be held on the next succeeding business day at the same place and time."

"Section 8. Proxy. – Any member or representative as defined in Section 4 hereof, may be represented by a proxy in all the meetings of the members of the corporation. The proxy must be in writing, designating the representative by name, signed by the member or the representative and duly presented to the Secretary for inspection and recording before the opening of the meeting.

Proxies shall be valid only either for the next annual or special meeting after the execution of the proxy or any adjournment thereof. The presence of the member at the meeting shall revoke the proxy heretofore executed by him and such member shall be entitled to vote at such meeting in the same manner and with the same effect as if he had not executed a proxy."

***

READ this section carefully. This Board may try more games if the designation of "representative" is not done in writing for a meeting. So besides the proxy to submit in writing as instructed above for those not attending, where there is joint ownership have a written statement signed by all the particular Unit Owners submitted to the Board Secretary. Send mail meant for the Board to the Administration office in the building. They will then know how to contact the Board Secretary who also holds the Minutes which as are not kept here in the office. Yes, this place is a mess.

"Section 4. Representation. – In cases where a unit is owned in common by two or more persons, they shall determine one (1) from among themselves, who shall represent them in the corporation. Except for the purpose of liquidation in case of dissolution, the representative designated shall be considered as members representing the unit for all purposes, in all matters related to the corporation, including service of notice of assessment and meetings, grant of proxies, voting on any matter, and the like. In cases of corporation, trust, or partnership, its authorized officers shall designate who should represent it in the corporation. In all the foregoing instances, the person duly designated (as) representative must be registered with the corporation by filing a written designation with the Secretary of the Corporation."

***The writing below is from:  http://sohocentralcondominium.blogspot.com/2013/03/title-vi-section-50-of-corporate-code.html ***

Since turnover in 2009 there was no Annual Meeting as written of in the By-Laws for that year on the last Friday of August unless there is a legal holiday. There was no Annual Meeting in 2010 since an employee of Century Properties Management Inc made that decision.

http://sohocentralcondominium.blogspot.com/2013/03/evidence-of-knowledge_4.html

There was an Annual Meeting in 2011 where the unelected developer controlled Board walked out. In 2012 there was a meeting but there was the annoucement of lack of quorum. The meeting had also been moved and that delay was one month which is a violation of the By-Laws since there was no legal holiday on the date demanded by the By-Laws.

I will write to the SEC explaining all this to them. We will also make the petition for a meeting to be held as called for in the By-Laws given the history here which we will review for them and other government agencies.

BATAS PAMBANSA BLG. 68
THE CORPORATION CODE OF THE PHILIPPINES

TITLE VI — MEETINGS

SECTION 50. Regular and special meetings of stockholders or members. — Regular meetings of stockholders or members shall be held annually on a date fixed in the by-laws, or if not so fixed, on any date in April of every year as determined by the board of directors or trustees: Provided, That written notice of regular meetings shall be sent to all stockholders or members of record at least two (2) weeks prior to the meeting, unless a different period is required by the by-laws.

Special meetings of stockholders or members shall be held at any time deemed necessary or as provided in the by-laws: Provided, however, That at least one (1) week written notice shall be sent to all stockholders or members, unless otherwise provided in the by-laws.

Notice of any meeting may be waived, expressly or impliedly, by any stockholder or member.

Whenever, for any cause, there is no person authorized to call a meeting, the Securities and Exchange Commission, upon petition of a stockholder or member on a showing of good cause therefor, may issue an order to the petitioning stockholder or member directing him to call a meeting of the corporation by giving proper notice required by this Code or by the by-laws. The petitioning stockholder or member shall preside thereat until at least a majority of the stockholders or members present have chosen one of their number as presiding officer. (24, 26)