vi.

    Election of Directors or Trustees  

1.     Cumulative Voting
2.     Straight Voting
a.     SEC-OGC Opinion No. 09-14, [June 2, 2014]) ROSAL
b.     Interim Rules of Procedure Governing Intra-corporate Controversies under R.A. No. 8799 ,
A.M. No. 01-2-04-SC, [March 13, 2001])
3.     Hold Over Principle
a.     SEC-OGC Opinion No. 18-06, [March 20, 2006]) SABIO
4.     Non-Permanency of Board Seats
a.     Grace Christian High School vs CA 381 SCRA 133 SANCHEZ
b.     Valle Verde Country Club vs Africa 598 SCRA 202 SANTIAGO
c.     San Juan Structural and Steel Fabricators vs CA 296 SCRA 631 SINARIMBO
5.     Removal of Corporate Officers
a.     Okol vs Slimmers World International 608 SCRA 97 SINGANON
b.     Philipine School of Business and Administration vs Leano 127 SCRA 778 TALON
c.     Pamplona Plantation Co. vs Acosta 510 SCRA 249 TAN
d.     Matling Industrial and Commercial Corp vs Coros 633 SCRA 12 ULANGKAYA
6.     Corporate Officers
a.     President
                                                                                                  i.    People’s Aircargo and Warehousing Co. VALERA
vs CA 297 SCRA 170
b.     Corporate Secretary
c.     Corporate Treasurer
                                                                                                  i.    San Juan Structural and Steel VIRGILIO
Fabricators bs CA 296 SCRA 631
                                                                                                 ii.    Monfort Hermanos Agricultural Dev ABERILLA
Corp. vs Monfort III 434 SCRA 27
7.     Disqualification of Directors, Trustees or Officers
8.     Removal of Directors or Trustees
9.     Vacancies in the Office of Director or Trustee
a.     Tan vs Sycip 499 SCRA 216 ALBA
b.     Western Institute of Technology vs Salas 278 SCRA 216 ALIGATO
10.  Liability of Directors, Trustees or Officers
a.     Palting vs San Jose Petroleum Inc.18 SCRA 924 ALO
b.     Palay Inc vs Clave 124 SCRA 638 APURA
c.     Tramat Mercantile Inc. vs CA 238 SCRA 14 BABAN
d.     Carag vs NLRC 520 SCRA 28 BANOSAN
e.     HR Carlo Construction Inc vs Marina Properties Corp 421 SCRA 428 BAYQUEN
f.      Seaoil Petroleum Corp vs Autocorp Group 569 SCRA 387 CABARLO
g.     Magaling vs Ong 562 SCRA 152 CALIO
h.    Gokongwei, Jr vs SEC 89 SCRA 336 CASTRO
i.      Prime White Cement Corp vs IAC 220 SCRA 103 CHUA
11.  Contracts Between Corporations with Interlocking Directors
12.  Disloyalty of Director
13.  Executive Committee
a.     Filipinas Port Services Inc. vs Go 518 SCRA 453 CLAROS
14.  The Independent Director
a.     SEC MEMORANDUM CIRCULAR NO. 16-02
b.     SEC Memorandum Circular No. 04-17, [March 9, 2017]
c.     SEC-OGC Opinion No. 04-13, [April 18, 2013]) CODILLA
4.    Powers of the Corporation
a.     Corporate Powers and Capacity
b.     Power to Extend or Shorten Corporate Term
c.     Power to temporary cease corporate operations
                                                  i.    SEC Opinion No. 43-04, [October 26, 2004]) DELA CERNA
d.     Power to Increase or decrease capital stock
                                                  i.    Central Textile Mills, Inc. vs NWPC 260 SCRA 368 EMUY
e.     Power to create or increase bonded indebtedness
                                                  i.    SEC OPINION, [April 29, 1987] FABE
                                                 ii.    Interim Guidelines for the Registration of Bonds, SEC RULES AND
REGULATIONS, [December 14, 1987])
f.      Power to Deny-Pre-emptive Right
g.     Power to Sell, dispose, lease or encumber assets
                                                  i.    Bulk Sales Law
                                                 ii.    Pena vs CA 193 SCRA 717 (1991) FLORES
                                                iii.    Islamic Department of the Philippines vs CA 272 SCRA 454 GUERRERO
                                                iv.    Caltex (Phils) Inc. vs PNOC Shipping and Transport Corp 498 SCRA GUINOMLA
400
h.    Power to acquire own shares
i.      Power to invest Corporate Funds
j.      Power to declare dividends
                                                  i.    Different types of dividends
k.     Power to enter into Management Contract
                                                  i.    Transfer Pricing Regulations
l.      Ultra-Vires Acts
                                                  i.    Montelibano vs Bacolod-Murcia Milling Co Inc 5 SCRA 36 (1962) HONORICO
                                                 ii.    Zomer Development Corporation vs International Exchange Bank ILAGAN
581 SCRA 115
                                                iii.    Republic vs Acoje Mining Mining Co Inc. 3 SCRA 361, 265 LAGAT
                                                iv.    Harden vs Benguet Consolidated Mining Co 58 Phil 140 LARA
5.    Meetings
a.     Kinds of Meetings
                                                  i.    Regular meeting
                                                 ii.    Special Meetings
1.     SEC Memorandum No. 15 -2001 (Teleconferencing)
2.     People vs Dumlao 580 SCRA 409 LATORZA
3.     Lopez Realty vs Spouses Tanjangco 739 SCRA 644 (2014) LUZ
b.     Place and Time of Meetings
c.     Quorum
d.     Who shall preside
6.    Stocks
a.     Consideration for Stock
b.     Certificate of Stock and Transfer of Shares
                                                  i.    Tan vs SEC 206 SCRA 740 MAHUSAY
                                                 ii.    Teng vs SEC 784 SCRA 216 MALIGAD
                                                iii.    Ponce vs Alsons Cement Corp 393 SCRA 602 MANA-AY
                                                iv.    Insigne vs Abra Valley Colleges 764 SCRA 261 (2015) MANLIGOY
                                                 v.    Bitong vs CA 292 SCRA 503 MASANGUID
c.     Issuance of Shares of Stock
                                                  i.    Principle of Indivisibiltiy
                                                 ii.    SEC Opinion January 8, 1987 MONDRAGON
d.     Watered Stocks
e.     Unpaid subscription
f.      Delinquency Sale
g.     Lost or Destroyed Certificates
                                                  i.    Rule on uncertificated shares (Section 43,1, SRC)
h.    Corporate Books and Records
7.    Stockholders and Members
a.     Rights of Stockholder
                                                  i.    Pre-emptive right
1.     SEC Opinion August 11, 1997 OLAMIT
2.     Majority Stockholder of Ruby Industrial Corp vs Lim 650 SCRA 461, 511 PALMA GIL
3.     Datu Tagoranao Benito vs SEC 123 SCRA 722 PAMAOS
                                                 ii.    Right of First Refusal
1.     Lambert vs Fox 26 Phil 588 PAULMA
                                                iii.    Right to Vote
1.     Tan vs Sycip 499 SCRA 216 (2006) PEROY, A
2.     Cojuangco vs Roxas 195 SCRA 797 PEROY, K
3.     Right to Vote of Pledgors, Mortgagors, and Administrators
4.     Voting in Case of Joint Ownership of Stock.
5.     Voting Rights for Treasury Shares
6.     Proxies vs Voting Trust
a.     Requisites for a Valid Proxy
b.     GSIS vs CA 585 SCRA 679 PIANG
c.     Requisites for a valid Voting Trust Agreement
d.     Distinction
                                                                                                  i.    Lee vs CA 205 SCRA 752, 758 PIODOS
                                                iv.    Right to Inspect/Examine Corporate Books
                                                 v.    Appraisal Right
1.     Appraisal Right
a.     Turner vs Lorenzo Shipping Inc. 636 SCRA 13, 28 (2010) PUBLICO
                                                vi.    Derivative Suits
1.     Angeles vs Santos 589 SCRA 588 PUERIN