November 21, 2018
SEC-OGC OPINION NO. 19-18
RE: ANNUAL STOCKHOLDERS' MEETING AND ELECTION OF OFFICERS
Caridad P. Andrews, et al.
Provident Village, Brgy. Jesus dela Peña,
Marikina City
Attention: Caridad P. Andrews
Anthony R. Andrews
Jocelyn B. Perez-Cue
Benito F. Cue, Jr.
J. Ventura P. Cue
Fe Marietta P. Rey
Roland A. Rey
Michael Roland P. Rey
Elizabeth M. Perez
Matias M. Perez IV
Ruby Elizabeth M. Perez-Reyes
Isidro Martin F. Reyes, Jr.
Nicole Angela M. Perez
Paulo Alfonso M. Perez
Gentlemen :
This is in response to your letter dated 02 March 2017 regarding the prolonged "overstaying" of the Board of Trustees of the University of Cagayan Valley, Inc. ("Corporation") and requesting for our opinion on whether or not the pendency of an intra-corporate case bars the Corporation from conducting its Annual Stockholders Meeting and Election of the Officers and Members of the Board of Directors. AScHCD
In your letter you stated that you filed a case before the Regional Trial Court (RTC) in Tugegarao questioning the legality of the Annual Stockholders' meeting and election of the Board held last 2008. This case is still pending before the respective court. You further stated that,
"Since 2008, no...
