[SEC-SICD * CASE NO. 12-97-5840. May 9, 2000.]
JOSE A. BERNAS, ET AL., complainants, vs. JOVENCIO F. CINCO, ET AL., respondents.
Corporation Code; calling of meeting. — Section 28 of the Corporation Code requires that the corporate secretary be first requested by a majority of the stockholders to call a meeting for the removal before stockholders may themselves call a meeting. Defendants can not assume that the request to call a meeting would be denied or that they constitute a majority, and a prior refusal is not in any case a justification to elect, not to comply with Section 28. EDCTIa
Same; same; same. — Further, Section 28 requires that the call for the meeting be signed by the stockholders who signed the demand to the board to call the meeting. Since there was no demand to the board to call the meeting, there could not have been a valid call or notice of the meeting for removal.
Same; same; same. — The club's by-laws mandate that the meetings shall be called by the club's secretary, . . ....
