Legislative History
House Bill/Resolution NO. HB12875 |
FULL TITLE : AN ACT PRESCRIBING THE MANNER OF ELECTION OF THE MEMBERS OF THE BOARD OF DIRECTORS OF THE PHILIPPINE VETERANS BANK AND AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NUMBERED THIRTY-FIVE HUNDRED AND EIGHTEEN AND REPUBLIC ACT NUMBERED SEVENTY-ONE HUNDRED AND SIXTY-NINE |
ABSTRACT : The issue concerns the ELECTION of the members of the board of Directors of the Bank. The veterans and their kins call for a wider REPRESENTATION of the veterans, themselves, in the board. They urge that their voices should be genuinely heard in theannual stockholders meeting. They are critical of the system of disseminating the notice of the stockholders meeting that, in effect, does not enable all stockholders to be present and vote during the meeting. A remedy has to be prescribed with regard to the impossibility of notifying and gathering in one single place the 510,000 stockholders for the purpose of electing the Board members, the tremendous expenses involved, aside from the problems it will create before, during and after the meetting and elections. |
PRINCIPAL AUTHOR/S : ANGPING, HARRY C. |
DATE FILED : 2001-01-23 |
SIGNIFICANCE: NATIONAL |
ADMINISTRATION BILL? No |
URGENT BILL? No |
ACTIONS TAKEN BY THE COMMITTEE ON RULES |
REFERRAL TO THE COMMITTEE ON VETERAN'S AFFAIRS ON 2001-02-05 |
Abstract
The issue concerns the ELECTION of the members of the board of Directors of the Bank. The veterans and their kins call for a wider REPRESENTATION of the veterans, themselves, in the board. They urge that their voices should be genuinely heard in theannual stockholders meeting. They are critical of the system of disseminating the notice of the stockholders meeting that, in effect, does not enable all stockholders to be present and vote during the meeting. A remedy has to be prescribed with regard to the impossibility of notifying and gathering in one single place the 510,000 stockholders for the purpose of electing the Board members, the tremendous expenses involved, aside from the problems it will create before, during and after the meetting and elections.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.