[SEC-SICD * CASE NO. 4427. April 15, 1999.]
BEMINDO JOSE, ET AL., complainants, vs. HI-WAY 54 PATEROS DRIVERS' ASSOCIATION, ET AL., respondents.
D E C I S I O N
This ,treats of the complaint filed by Bemindo Jose, Federico Marzan, Eriberto Narra and Jaime Romeo against Hi-Way 54-Pateros Drivers' Association, Inc. and its Officers namely: Cresencio Pagueran, Francisco Melan, and Rosendo San Andres, for violation of the Corporation Code and SEC Laws.
The complaint, alleges the following, to wit that as members of the corporation the complainants have daily dues of five pesos (P5 00) and daily savings deposits plus P1.00 for a monthly contribution of P69.00 more or less, per individual members; that per Board Resolution of 1987 the excess of dual members; that per Board Resolution of 1987 the excess of the fund for operations shall be returned to them every end of the year; that they want to be informed of the operation of the corporation, thus, they have been requesting the officers to furnish them with Audited Financial Statement for the year ending December...
