How may the SEC compel a stockholder or member to call a meeting if the authorized person unjustly refuses?
Whenever there is no person authorized to call a meeting, or the authorized person unjustly refuses to call one for any cause, the SEC may intervene (SEC. 129, Revised Corporation Code of the Philippines). Upon a petition of a stockholder or member showing good cause, the SEC may issue an order directing the petitioning stockholder or member to call a meeting of the corporation by giving the proper notice required by the Code or the bylaws. The petitioning stockholder or member shall then preside over that meeting until a majority of those present have successfully chosen a presiding officer from among themselves. This power protects the fundamental right of suffrage and association when corporate managers fail to act.
02 November 2025
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Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
