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Dr. Vicente Q. Arguelles, M.D.

SEC Opinion • Securities and Exchange Commission • Opinions • Apr 22, 1982

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April 22, 1982 Dr. Vicente Q. Arguelles, M.D. PHILIPPINE COLLEGE OF SURGEONS P.O. Box 513, Greenhills San Juan, Metro Manila Gentlemen: This has reference to your letter-query dated January 25, 1982 requesting opinion of this Commission relative to the Philippine College of Surgeons, Inc. It appears that the Board of Regents of the Philippine College of Surgeons created a "life" membership relative to the payment of annual dues without amending the by-laws. All "life" members voluntarily paid a lump sum to cover all their annual dues for life. During the midyear convention on May 13, 1980 in Cebu City, the members by a majority vote passed a resolution assessing P1,000.00 from all members for the construction of the PCS building. The P1,000.00 assessment for the building fund was made mandatory in a special meeting of PCS members held on November 6, 1981 in Manila Peninsula Hotel. Your queries are as follows: 1. "Is a 'life' member now obliged to pay the assessed amount of P1,000?" 2. "If the life member refuses to pay the assessment fee for the building and other assessments that may be imposed on the PCS fellows in the future, can he be subjected to the sanctions similar to an ordinary member even if he has paid his annual dues for life?" 3. "If in case such life member can be expelled from the organization is the college obliged to reimburse his paid annual dues?" In reply, we wish to inform you, with regrets, that this Commission cannot render an intelligible opinion on the matters posed in your query in view of the absence of the classification of membership into "life" or "ordinary", as well as the provision on the rights and obligations of expelled members in the by-laws. Please be advised, however, that an amendment of the by-laws should first be made in order that the subject dues may be validly impose on life members. Please be advised accordingly. Very truly yours, (SGD.) JULIO A. SULIT, JR. Associate Commissioner

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