Today is June 5, 2020

Issued Opinions for the Year 2006

Opinion No. 06-37
RE   : Quorum consisting of less than majority

Opinion No. 06-36
RE   : Corporate Nationality under the FIA; Reclassification of Shares of Stock; Required Equity under the Financing Company Act

Opinion No. 06-35
RE   : Preferred shares; Rate of dividends; Redemption

Opinion No. 06-34
RE   : Limited Practice of Profession of Foreign National

Opinion No. 06-33
RE   : Expiration of Term : Ownership of a Real Property

Opinion No. 06-32
RE   : Sales of industrial or commercial users or consumers not considered "retail trade"

Opinion No. 06-31
RE   : Term of office of the Board of Trustees

Opinion No. 06-30
RE   : Remittance Companies & the Foreign Investment Act

Opinion No. 06-29
RE   : Non-stock Corporations; Use of Profits Derived by Non-stock Corporations. Special Corporations; Non-stock Educational Corporations; Required Number of Members of the Board of Trustees of Non-stock Educational Corporation

Opinion No. 06-28
RE   : Voting Rights of Heirs of deceased stockholder

Opinion No. 06-27
RE   : Stockholders' Right to Financial Statement

Opinion No. 06-26
RE   : Corporations created by special charter

Opinion No. 06-25
RE   : SRC Rule 19 : Tender offer

Opinion No. 06-24
RE   : Principal Office Address; SEC Memo Circular No. 3, series 2006

Opinion No. 06-23
RE   : "Election of the Board of Trustees"

Opinion No. 06-22
RE   : Foundations are not allowed to issue securities including pre-need plans

Opinion No. 06-21
RE   : Refusal to Issue Certificates of Stock; Remedies of a Successful Bidder in an Auction Sale of Shares of Stock

Opinion No. 06-20
RE   : Dissolution of subsidiaries

Opinion No. 06-19
RE   : Validity of provision restricting transferability of shares in close corporations

Opinion No. 06-18
RE   : "Hold-over principle"

Opinion No. 06-17
RE   : Conflict of interest

Opinion No. 06-16
RE   : Proxy rules governing condominium corporation

Opinion No. 06-15
RE   : Credit Card Receivables may be classified as "Assets" under the Securitization Act of 2004 (R.A. 9267)

Opinion No. 06-14
RE   : Public Companies under SEC Memorandum Circular No. 13, series of 2003, as amended

Opinion No. 06-13
RE   : Issuance of Stock Certificates for Partially Paid Subscriptions

Opinion No. 06-12
RE   : Assignment to the Board of Directors of the voting rights of delinquent members of a condominium corp.

Opinion No. 06-10
RE   : Unit Trust Fund as Securities

Opinion No. 06-09
RE   : Requisites for Directors'/Stockholders' Meeting

Opinion No. 06-08
RE   : PSE query on classification of broker corporations/firms

Opinion No. 06-07
RE   : Retail Trade : Qualification to Engage in Retail Trade

Opinion No. 06-06
RE   : Sale of shares of stock of a revoked corporation

Opinion No. 06-05
RE   : Amendment of a rural bank's articles to reflect conversion of shares from preferred to common

Opinion No. 06-04
RE   : Effective Date of Merger

Opinion No. 06-03
RE   : Dissolution : Reckoning of Liquidation period

Opinion No. 06-02
RE   : Delegation of the power to amend or repeal by-laws or adopt new by-laws

Opinion No. 06-01
RE   : Dissolution and Lifting Order of Revocation; Expiration of term

We collect only the valid email addresses of individuals or organizations interested to subscribe in the SEC Bulletin.
IP Addresses
SEC Bulletin sign up form does not collect information about your computer (or mobile device), including IP addresses, operating system and browser type.
For this project, SEC collects and uses email addresses through an online subscription/sign-up form located at the upper left portion of the website. This email addresses are to be incorporated in the mailing list created for the SEC Bulletin.
The collected email addresses will be utilized solely for the mailing list. The email addresses will serve as a means to send out the SEC Bulletin to its subscribers. The email addresses will not be shared with outside parties of the SEC.
Only authorized SEC personnel are granted access to the email addresses collected by SEC through SEC Bulletin sign up from. This information collected are stored in a secure database. We use reasonable security safeguards to protect the information from loss, unauthorized access, use or disclosure.
Under the Data Privacy Act of 2012, a data subject refers to an individual whose personal information is collected and processed. We are duly bound to observe and respect your privacy rights, including your right to information, right to access, right to correct, right to remove, right to damages and right to data portability.

In accordance with the Data Privacy Act of 2012, the SEC is committed to protect and respect the personal data gathered from our clients.If you voluntarily agree to subscribe to our newsletter and receive a monthly issue of the SEC Bulletin as well as other advisories, please provide a valid email address so we can include you in our subscription list.

Rest assured that the information collected will only be used for SEC Strategic Communication purposes and will not be publicized for the privacy and safety of our subscribers.

If you agree with these terms and conditions, please sign up now! Thank you

For more information, suggestion and feedback on this Privacy Notice, please send your email to our Data Protection Officer at