Mr. Richard M. Tiongco, M. D.
SEC Opinion • Securities and Exchange Commission • Opinions • Mar 14, 1989
Full text
March 14, 1989 Mr. Richard M. Tiongco, M. D. Medical Center Manila 1122 General Luna St., Ermita, Manila Sir : This refers to your letter dated February 17, 1989, requesting for legal opinion on the validity of shares of stock issued in the name of stockholder or stockholders who are spouses with the conjunctive "and/or" placed between their names. The Commission in a letter to Benguet Ventures Inc., dated June 3, 1973 opined that certificates of stock may be issued with the conjunctive "and/or" placed between the names of the parties who, apparently, are co-owners of said shares. In the issuance of the same, it is understood that between the corporation and the stockholders whose names appear in the certificate, the shares of stock may be transferred upon the indorsement of both stockholders, or either of them. The right to vote the share may also be exercised by both or all or any of them. ( SEC letter, dated August 27, 1974 addressed to Atty. Gil R. Carlos ). LibLex Please be advised accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman
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