Issuance of Internal Revenue Books for the Use of the Banna Facoma, Inc.

August 9, 1960 BIR RULING NO. 357-60 Mr. Artemio G. Bumanglag Banna, Ilocos Norte S i r : In answer to your request for the issuance of internal revenue books for the use of the Banna Facoma, Inc., in its transactions in Virginia tobacco, please be informed as follows: Mr. Gregorio Yero has filed with this Office his objection to your request on the ground that you have no authority to act for the above-mentioned Association. The ACCFA, thru its Acting Administrator, Mr. Leopoldo B. Uichanco, has informed this Office of its decision holding the election of the "new set of directors" of the Banna Facoma, Inc. "null and void" on the ground that the election was held prior to the expiration of the terms of office of the incumbent directors. In other words, the incumbent directors and/or officers of the Association are recognized by the ACCFA as the ones authorized to act for and in behalf of said Association. Since the ACCFA takes charge of matters relating to the promotion, organization, and supervision of cooperative associations (sec. 5 no. (7), R A. 821) and it appearing that you were one of the officer elected by the "new set of directors" whose election was declared "null and void", your request is hereby denied. Until new directors and officers of the Association are elected and have qualified, this Office shall therefore deal only with the incumbent directors and/or officers of said Association. Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue