Re: Annual Stockholders' Meeting and Election of Officers

November 21, 2018SEC-OGC OPINION NO. 19-18RE: ANNUAL STOCKHOLDERS' MEETING AND ELECTION OF OFFICERSCaridad P. Andrews, et al.Provident Village, Brgy. Jesus dela Peña,Marikina CityAttention: Caridad P. AndrewsAnthony R. AndrewsJocelyn B. Perez-CueBenito F. Cue, Jr.J. Ventura P. CueFe Marietta P. ReyRoland A. ReyMichael Roland P. ReyElizabeth M. PerezMatias M. Perez IVRuby Elizabeth M. Perez-ReyesIsidro Martin F. Reyes, Jr.Nicole Angela M. PerezPaulo Alfonso M. PerezGentlemen :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. AScHCDIn 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...