Re: Condominium Corporation: Membership; Proxy Rules; Compensation of Directors and Officers; Hold-Over Capacity; Corporate Term

August 31, 2017SEC-OGC OPINION NO. 10-17RE: CONDOMINIUM CORPORATION: MEMBERSHIP; PROXY RULES; COMPENSATION OF DIRECTORS AND OFFICERS; HOLD-OVER CAPACITY; CORPORATE TERMSelected Homeowners/Residentsof URCI Las Piñas TownhomesBldg. Unit 15-07URCI Las Piñas TownhomesAlabang Zapote RoadPamplona 3, Las Piñas City 0740[email protected]Attention: Cesar L. De Guzman, John F. De Guzman, Federico Malaga, Fe T. Alagos, Eduardo A. Baquir and Francis JandaGentlemen :This is in response to your letters dated 14 February 2017 and 16 February 2017, requesting for an opinion regarding the present situation of your community, URCI Las Piñas Condominium Corporation (ULPCC, for brevity). In the letter, you raised numerous concerns regarding several topics, namely:1. Alleged violations of the by-laws by the Officers/Board of Directors specifically those concerning Board election, implementation of increase in association dues and other contestable actions;2. Imposition of sanctions on the members of the Board of Directors for their alleged mismanagement, overspending and other contestable actions;3. What government agency will govern your community if you choose to be a plain Homeowners Association, as well as the requirements needed for the transition, and the composition...