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Bylaws

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Derrick Yson (Mangga Han)
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39 views4 pages

Bylaws

Uploaded by

Derrick Yson (Mangga Han)
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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BYLAWS

OF

ECCENTRIC PHARMACEUTICAL, CORPORATION

I. THE TIME, PLACE AND MANNER OF CALLING AND CONDUCTING REGULAR OR


SPECIAL MEETINGS OF THE TRUSTEES.

a) Regular meetings of the board of trustees of the corporation shall be held


monthly, unless the by-laws provide otherwise.

b) Special meetings of the board of trustees may be held at any time upon the call of
the president or as provided in the by-laws

c) Meetings of trustees may be held anywhere in or outside of the Philippines,


unless the by-laws provide otherwise. Notice of regular or special meetings
stating the date, time and place of the meeting must be sent to every trustee or
trustee at least one (1) day prior to the scheduled meeting, unless otherwise
provided by the by-laws. A trustee may waive this requirement, either expressly
or impliedly.

II. THE TIME AND MANNER OF CALLING AND CONDUCTING REGULAR OR SPECIAL
MEETINGS OF THE MEMBERS.

a) Regular or annual meetings of members shall be held annually on June 11.

b) Written notice of regular meetings shall be sent to all members of record at least
two (2) weeks prior to the meeting, unless a different period is required by the
by-laws.

c) Special meetings of members shall be held at any time deemed necessary or as


provided in the by-laws.

d) Written notice of special meetings shall be sent to all members at least one week
prior to the meeting, unless a different period is required by the by-laws.

e) Members’ meetings, whether regular or special, shall be held in the city or


municipality where the principal office of the corporation is located, and if
practicable in the principal office of the corporation. The City of Baguio shall, for
the purpose of this provision, be the considered city.

III. THE REQUIRED QUORUM IN MEETINGS OF MEMBERS


a) The required quorum in meetings of members shall consist of the member/s
representing a majority of the entire membership.

IV. THE FORM FOR PROXIES OF MEMBERS AND THE MANNER OF VOTING THEM

a) Members may vote in person or by proxy in all meetings of members. Proxies


shall be in writing, signed by the member and filed before the scheduled meeting
with the corporate secretary. Unless otherwise provided in the proxy, it shall be
valid only for the meeting for which it is intended. No proxy shall be valid and
effective for a period longer than five (5) years at any one time.

V. THE QUALIFICATIONS, DUTIES, TERM AND COMPENSATION OF TRUSTEES

a) No person convicted by final judgment of an offense punishable by


imprisonment for a period exceeding six (6) years, or a violation of this Code,
committed within five (5) years prior to the date of his election shall qualify as a
trustee. No person shall be elected as trustee unless he is a member of the
corporation. A majority of the trustees must be residents of the Philippines.
b) The corporate powers of the corporation shall be exercised, all business
conducted and all property of the corporation be controlled and held by the
board of trustees to be elected from among the members, who shall hold office
for one (1) year and until their successors are elected and qualified.
c) The trustees shall not receive any compensation, as such trustees, except for
reasonable per diems. Any compensation may be granted to trustees by the vote
of the members representing at least a majority of the membership at a regular
or special members’ meeting, In no case shall the total yearly compensation of
trustees, as such trustees, exceed ten (10%) percent of the net income before
income tax of the corporation during the preceding year.

VI. THE MANNER OF ELECTION OR APPOINTMENT, QUALIFICATION AND THE TERM


OF OFFICE OF ALL OFFICERS OTHER THAN TRUSTEES

a) Immediately after their election, the trustees of a corporation must formally


organize by the election of a PRESIDENT, who shall be a trustee, a TREASURER
who may or may not be a trustee, a SECRETARY who shall be a resident and
citizen of the Philippines, and such other officers as may be provided in the by-
laws. Two (2) or more positions may be held concurrently by the same officer,
however no one shall act as PRESIDENT and SECRETARY or as PRESIDENT and
TREASURER at the same time. The officers of the corporation shall hold office for
one (1) year and until the successors are elected and qualified. The officers of the
corporation shall perform functions as required by existing laws, rules and
regulations.

VII. FISCAL YEAR


a) The fiscal year of the corporation shall begin on the first day of January
and end on the last day of December of each year.

VIII. ARBITRATION CLAUSE

“Any dispute, controversy, difference or claim arising out of or in relation to this


agreement, including any question as to the interpretation, implementation,
existence, validity, breach or termination thereof or as to any non-contractual
obligation arising out of or relating thereto, shall be referred to and finally
resolved by arbitration administered by the Philippine Mediation Center in
Baguio City, Benguet (“PMC”) in accordance with the PMC Arbitration Rules in
force at the time of the commencement of the arbitration (“PMC Arbitration
Rules”), which rules are deemed incorporated by reference in this clause.

The arbitration shall be conducted by one or more arbitrators to be appointed in


accordance with the PICCR Arbitration Rules.

The seat of the arbitration shall be the Philippines.

The language of the arbitration shall be English.

This arbitration agreement shall be governed by the laws of the Philippines.”

IX. SEAL

a) The corporate seal shall be determined by the Board of Trustees.

X. MISCELLANEOUS PROVISIONS

a) Matters not covered by the provisions of these by-laws shall be governed by


the provisions of the Corporation Code of the Philippines.

IN WITNESS WHEREOF, we, the undersigned incorporators present at said meeting


and voting thereat in favor of the adoption of said by-laws, have hereunto subscribed our
names this 13th day of April at 2024.

Henrick Dalusang Yson


PRC No. 123456
Issued on: January 1, 2021
Valid until: August 1, 2024

Cesar Angelo Sancio


PRC No. 654321
Issued on: January 1, 2021
Valid until: August 1, 2024

Harold Troy Collado


PRC No. 789456
Issued on: January 1, 2021
Valid until: August 1, 2024

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