Paul Sycip and Meritto Lim vs. Wang Ta Peng, et al.

 [SEC-SICD * CASE NO. 08-98-6065. June 21, 2000.]PAUL SYCIP and MERITTO LIM, petitioners, vs. WANG TA PENG, ET AL., respondents.Corporation Code; quorum. — It is well settled that where the number necessary to constitute a quorum is prescribed by the statute, the same prevails over a by-law provision requiring less than the proportion required by the particular legislation. . . . In this regard, this Commission has stated that for the election of the members of the board of a non-stock corporation, it is mandatory that at least a majority of all members entitled to vote must be present either in person or by proxy at the meeting held for the purpose. Thus, in the absence of the required quorum, there cannot be a valid election of the board. CIHTacSame; Right to vote; — The SEC has opined that the authority granted by the Corporation Code to corporations to provide in their by-laws regulations on the right to vote is merely to make "conditions upon which members of non-stock corporations shall be entitled to vote".....