Professional Documents
Culture Documents
CERTIFICATION ELECTION
Issue Required Vote If Required Vote is NOT Next Step
Reached
Validity of Election Majority (50%+1) of eligible There is a failure of election. Resetting/rescheduling for another
voters in the bargaining unit. CE within 6 months from failure.
(Re-run election).
Winner Majority (50%+1) of valid votes Possibilities
cast. Challenged votes will be included Determine if there is a winner.
• Exclude spoiled ballots IF the result will be materially
affected.
No union obtained majority of Determine if a run-off election can
valid votes be conducted.
Tie Re-run election
Run-off election Total number of votes for No run-off election can be The unions will have to wait for
contending unions is at least 50% conducted. another year before another PCE
*There must be at least 3 choices of the number of votes cast. can be filed (Statutory bar).
• Include ALL votes
BARS TO CERTIFICATION ELECTION
Bar Cause Effect on PCE
Contract Duly-registered CBA PCE can be filed during the 60-day freedom period
immediately before the expiration of 5 years.
Statutory A valid certification, consent, re-run or run-off PCE can be filed 1 year from the date of the prior
election was held, but no SEBA was chosen. election.
Certification Year A valid certification, consent, re-run or run-off PCE can be filed 1 year from the date the SEBA was
election was held where a SEBA was chosen. certified.
Deadlock Bargaining deadlock has been submitted to A question as to representation cannot be entertained
conciliation or arbitration. during pendency.
Negotiations Commencement of negotiations in good faith between No PCE can be filed during the entire duration of
the employer and SEBA. negotiations.
CORPORATION LAW
Concurrence of BOD/BOT and SH/Members
Appraisal SEC Vote of Non-
Sec Act Additional Requisites/Matters BOD/BOT SH/Member Right Voting Shares
Approval
- Cannot be made during 3-year liquidation period
Extension of term 2/3 P P
37 - It includes temporary stoppage of operations
Shortening of term 2/3 P P
a. Certificate signed by majority of the BOD,
Increase or decrease of capital Chairman and Secretary;
2/3 P P
stock b. Treasurer’s affidavit certifying compliance with
38
the 25%-25% requirements
Incurring, creating or increasing
2/3 P P
bonded indebtedness
SLEMP of ALL or substantially SH approval NOT necessary if made in the regular 2/3
40 P P
all assets of the corporation course of business Except: N/A ß
Investment of funds in another SH approval NOT necessary if reasonably 2/3
42 P P
corp or business necessary to accomplish primary purpose Except: N/A ß
N/A
43 Declaration of dividends Except: 2/3 if
stock dividends
Note: Appraisal right is only available if the P
amendment has the effect of changing or restricting
Except:
16 Amendment of AoI the rights of any SH or class of shares, or of Majority 2/3 P P
No action
authorizing preferences in any respect superior to
w/in 6 mos.
those of outstanding shares of any class
Approval or amendment of the
77 2/3 P P P
plan of merger or consolidation
Plan of distribution of assets in
95 2/3
NSC
Dissolution where creditors are
118 2/3 P
NOT affected
Dissolution where creditors are
119 2/3 P P
affected
2/3 vote of SH necessary if:
a. SHs representing the same interest of both
Entering into management corporations own/control more than 1/3 of the total Majority
44
contracts OCS of the managing corporation; Except: 2/3 ß
b. Majority of the managing corporation’s BOD is
also majority of the managed corporation’s BOD
Amendment or repeal or Note: Adoption of first BL only needs the vote of
48 Majority P P
adoption of new BL majority of SH
SH/Members Only BOD only
Vote SEC Vote of Submission to
Sec Act Non-Voting Sec Act Vote Required
Required Approval SEC
Fixing terms and conditions of
28 Removal of directors or trustees 6 preferred shares (if P
authorized in the AoI)
Fixing the price of treasury
32 Ratification of self-dealing contracts 9
shares if disposed again
Filling of vacancies
Ratification of the act of a disloyal If not by reason of removal or
34 29
director 2/3 expiration AND they still
constitute a quorum
Majority
Issuance of shares in good faith in
Determination of valuation of
exchange for property needed for
39 consideration for stocks other
corporate purposes or in payment of a
62 than cash
previously contracted debt.
Delegation to the BOD of the power to Fixing the issued price of no-
46
amend, repeal or adopt NEW by-laws par value shares
Election of directors
Ordering the sale of
24 Note: PRESENCE of majority is needed Cumulative 68
delinquent stock
for validity of election
Demand for a special meeting for
28 Other matters which require SEC approval
removing a director or trustee
Filling of vacancies 6 Grant of exclusive right to vote and be voted for (Founder’s shares)
a. Removal;
89 Voting by mail or other similar means by members of NSC
b. Expiration of term;
29
c. Increase in directors/trustees; When favorable recommendation/certificate from govt agency is necessary
d. Other causes if BOD does not Articles of incorporation or a. Banks, banking and QB institutions;
constitute a quorum 17
amendment thereto b. Building and loan associations;
30 Compensation of directors
Majority By-laws or amendment of by- c. Trust companies;
46 d. Insurance companies;
Revocation of the delegation of the laws
e. Public utilities
power to amend, repeal or adopt new
f. Educational institutions;
46 BL to the BOD 79 Merger or consolidation g. Other corpos governed by special laws
Right of FC to transact
Adoption of BL P P 123
business in the PH
Conferring the authority upon the
Change of corporate name or
62 BOD to fix the issued price of no-par 124
additional purposes of FC
value shares
Matters which may be provided otherwise in the AoI or BL
Matter By-laws AOI If none
When to hold special meetings of BOD/BOT P Upon call of the President
Denial of pre-emptive right P SH shall enjoy pre-emptive right
Who shall preside at meetings P President
Limit, broadening or denial of the right of members of any class to vote P P One vote per member
Transferability of membership P P Non-transferable
Compensation of directors P No compensation except reasonable per diems
When to hold regular meetings of BOD/BOT P Monthly
Authority conferred upon BOD to fix issued price of no-par value shares P P Majority of SH/M may confer
Quorum in meetings P Majority of SH/M
Greater number of quorum of BOD/BOT P P Majority
Rate of interest on unpaid subscriptions P Legal rate
Place of meetings of members of NON-STOCK corporations P City/municipality where principal office is located or if practicable, in the PO
Issuance of redeemable shares P Cannot be issued
No. of shares of stock standing at the time fixed is the basis of voting P At the time of election
Manner of voting for trustees P P As many votes as there are trustees to be elected but not more than 1 vote for 1 candidate
When to hold special meetings P Anytime necessary
When to hold regular meetings of SH/M P Any date in April of every year as determined by the board of directors or trustees
Election of officers by members in NSC P P Allowed; unless otherwise provided
Voting by proxy P P Allowed unless BL/AOI provide otherwise
Voting by mail P Allowed if provided + SEC approval
Equality/non-equality of shares P All shares are equal
Effect of termination P P All rights of a member in the corporation or in its property are extinguished
Term of trustees P P 5 years
Notice of regular meetings P 2 weeks prior to the meeting
Number of trustees P P 15 maximum
Notice of special meetings P 1-week written notice
Matters provided in the AoI or BL
Other officers aside from president, secretary and treasurer P
Qualifications and duties of DTO P
Executive committee P
Penalties for violations of BL P
Issuance of stock cert P
Entries which must be kept in the stock/transfer book P
Termination of membership P P
Par/no par value P
Preferences of shares P
Authority of BOD to fix terms and conditions of preferred shares P
Number of directors fixed P
Self-Dealing Contracts/Contracts with Interlocking Directors
Filling of Vacancies