Mr. Manuel B. Bulseco, Jr.

January 2, 1990 Mr. Manuel B. Bulseco, Jr. # 29 Sago St.,Dream Homes Subdivision De la Paz Santolan, Pasig, Metro Manila S i r : This refers to your letter dated November 3, 1989, inquiring whether a president of a private corporation can act at the same time as treasurer. Section 25 of the Corporation Code provides in part: ...Any two (2) or more positions may be held concurrently by the same person, except that no one shall act as president and secretary or as president and treasurer at the same time . ...(emphasis supplied) From the above, it is clear that the positions of president and treasurer cannot be held concurrently by the same person. Relative to your allegation that your corporation is mismanaged by the incumbent president, we regret to inform you that this Commission refrains from rendering comments on justiciable issues which could only be clarified and determined in a proper proceeding. The Commission has adopted the policy of not taking any action that will prejudice the outcome of the case if it will eventually be litigated in the future. Thus, instead of commenting on the said issue and in order to afford the parties due process of law, it is suggested that should you feel you have a legal cause of action against the officers of your corporation, you may file a verified complaint with the Commission in accordance with PD 902-A, as amended. prcd Please be advised accordingly. Very truly yours, (SGD.) RODOLFO L. SAMARISTA Associate Commissioner