Re: Quorum in Meetings of a Condominium Corporation

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Re: Quorum in Meetings of a Condominium Corporation

SEC-OGC Opinion No. 25-19

July 22, 2019

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Securities and Exchange Commission

SEC Opinions

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Re: Quorum in Meetings of a Condominium Corporation

SEC-OGC Opinion No. 25-19

July 22, 2019

July 22, 2019SEC-OGC OPINION NO. 25-19RE: QUORUM IN MEETINGS OF A CONDOMINIUM CORPORATIONWilliam L. ChewPresidentPico de Loro CoveCondominium CorporationHamilo Coast, Barangay Papaya4231 Nasugbu, BatangasGentlemen :This refers to your letter dated 16 March 2018 requesting an opinion on determining quorum during annual membership meetings of Pico De Loro Cove Condominium Corporation ("Pico De Loro"). HTcADCIn your letter, you stated that Pico De Loro is a non-stock, non-profit corporation whose annual membership meeting is set by its By-Laws on the last day of April of each year. For years 2016 and 2017, the annual meetings were adjourned for failure to constitute a quorum.As some members are suggesting that the basis of quorum for Pico de Loro's annual membership meeting is "the attendance of only a simple majority of the members who are in good standing," you are now seeking confirmation that the proper basis of quorum should be as stated in the By-Laws and Master Deed with Declaration of Restrictions ("Master Deed"), and that the absence of such quorum would render all acts or transactions made during...
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Re: Quorum in Meetings of a Condominium Corporation

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Securities and Exchange Commission

SEC Opinions