Young Women's Christian Association
SEC Opinion • Securities and Exchange Commission • Opinions • Apr 6, 1988
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April 6, 1988 Young Women's Christian Association Headquarters, 880 United Nations Ave. Ermita, Manila Madam: This refers to your letter, dated March 8, 1988, requesting the opinion of this Commission on the query posed therein. It appears that under the provision of your original by-laws, which was approved by the Commission on January 5, 1955, members of the National Council (Board of Directors) should be elected for a term of one (1) year. They may be re-elected as members of the National Council after the lapse or termination of their term, provided that they do not serve for more than four (4) consecutive years. (Sec. 2, Article VI, By-laws). On February 12, 1988, the Association's new by-laws was approved by the Commission wherein Section 2, Article VII provides in part. "National Council members shall be elected for a term of two years. They may be re-nominated for election after the termination of their terms, provided they do not serve more than two consecutive terms. . . ". Your query now is: are all members of the National Council eligible for election for another four year? In other words, are members of the National Council who have already served for four years under the term of the old by-laws still run for the National Council? The Commission had occasion to rule in its previous opinions that "By-laws should be made to apply prospectively and not retroactively and should become operative from the time of their adoption provided they are not contrary to law, morals and public policy". ( Letters to Atty. Mel Oxciano, dated November 2, 1977 ; Mr. Orlando C. Paray, dated July 28, 1987) Applying the foregoing ruling to the instant case since your original by-laws had been repealed and a set of new by-laws adopted, the provisions of the latter as to the tenure of office of the members of the National Council control. Hence, members of the National Council of duly elected may serve for two (2) consecutive terms, i.e. for four years. Please be advised accordingly. Very truly yours, (SGD.) JULIO A. SULIT, JR. Chairman
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