Mr. Joselito P. Casica
SEC Opinion • Securities and Exchange Commission • Opinions • Sep 22, 1981
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September 22, 1981 Mr. Joselito P. Casica Garden Village Subdivision Pulong Buhangin, Sta. Maria Bulacan Sir : This has reference to your letter dated January 28, 1981 with two queries posed therein in connection with the general assembly meeting of Garden Village Homeowners Association, Inc. held in Pulong Buhangin, Sta. Maria, Bulacan last November 14, 1980. In your first query, you want to know if an elected president can legally act as chairman/presiding officer in any meeting of your association and bind its members. Please be advised that Article V, Section 11(a) (2) of the by-laws of the above-named association on file with this Commission expressly states that the President has the power to "preside over all meetings of the Board of Directors and the General Assembly." We, therefore, answer your first query in the affirmative. In view thereof, your second query need not be answered. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner
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