[SEC-SICD * CASE NO. 06-99-6316. February 4, 2000.]
D E C I S I O N
This is. a petition for the nullification of the elections of board of directors of Central Market Savings and Loan Association, Inc. conducted on March 13, 1999 due to an alleged failure to muster the quorum requirements of its By-Laws. HDaACI
Based on the pleadings filed and admissions made, the parties submitted that the hearing panel resolve the Instant case pursuant to Rule 34, Section 1 of the New Rules of Civil Procedure and Section 7, Rule XIV of the New Rules of the Securities and Exchange Commission which provides and we quote:
"SECTION 7. Judgment; Hearing, When Ordered.— Should the Hearing Officer find upon consideration of the pleadings, the affidavits; and other evidences, and position statements submitted by the parties that a judgment may be rendered thereon without need of a formal hearing, he may proceed to render judgment."
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Hence, this Judgment on the pleadings.
Petitioners alleged that she has been a bona fide member of the defendant association since 1975; that...
