March 19, 2019
SEC-OGC OPINION NO. 09-19
RE: ASSIGNMENT OF SHARES OF STOCK BETWEEN HUSBAND AND WIFE
Mr. Emmanuel H. Santianio n
151 Bunga St., Ayala Alabang
Muntinlupa City, 1780
Dear Mr. Santiano :
This refers to your request for an opinion regarding the validity and registrability of shares of stock assigned by a husband to his wife.
In your letter, you stated that as Corporate Secretary you received a Deed of Assignment whereby Michael Angelo H. Santiago ("Michael"), a registered owner of four thousand (4000) shares of stock in Hersan Realty Corporation ("HRC"), assigned, ceded, transferred, and conveyed in favor of his wife, Karen B. Santiago ("Karen"), two thousand (2000) of the said 4000 shares of stock, for the purpose of jointly administering their community property pursuant to Article 96 1 of the Family Code.
In view thereof, you raised the following queries considering the proscriptions contained in Article 87 of the Family Code and Article 1490 of the Civil Code:
1. Is the assignment of the 2000 shares of stock between Michael and Karen valid?
2. Is the said assignment of the 2000...
