Friday, March 13, 2015

Meetings for Board of Directors/Trustees

Meetings for Board of Directors/Trustees


(The terms Directors and Trustees are used interchangeably.)

There was a question at the recent informal meeting about meetings of the Board.  I cannot find any requirement either in the By-Laws or Master Deed or Philippine Corporate Code for a meeting other than one after the annual election or for needed business decisions.  I cannot locate any regularly required meeting.

The following are links to read and a section of the Corporate Code that does not reflect the Supreme Court decision Valle Verde vs Africa; whereby, those Directors in tenure and no longer in term of office cannot appoint members to vacancies.

Soho Central Bylaws (see Section 15) - 
https://drive.google.com/file/d/0B0Sq5pyrVRznYzE0YjU1M2YtZTZjZC00OWJmLTk5YWUtNTk4NDllNWZiZWYw/view?usp=sharing

Soho Central Master Deed - 
https://drive.google.com/file/d/0B0Sq5pyrVRznYzZlOGEyMWMtNWM2Mi00NDdmLTlmZjItNjI4OGU2YTlmNTcz/view?usp=sharing

Corporation Code of the Philippines, Title III - BOARD OF DIRECTORS/TRUSTEES/OFFICERS -
http://www.chanrobles.com/legal5title3.htm#.VQJC740frmI

Valle Verde vs Africa - 
https://drive.google.com/file/d/0B0Sq5pyrVRznSDFuUGtxOEFpMjA/view?usp=sharing

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