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Can a nonstock corporation offset unused contributions of members against the balance receivables from the same members? ABC Foundation engaged in providing feeding programs to
- Can a nonstock corporation offset unused contributions of members against the balance receivables from the same members?
- ABC Foundation engaged in providing feeding programs to homeless children and giving of food packages to victims of calamities using the funds of the foundation for this purpose. Mr. X, who is a member of the foundation is in a quandary as to whether or not the practice of the foundation in using its funds for the mentioned purposes is valid. He is quite fearful that with recent surge in calamities, it might deplete the resources of the foundation, and therefore, affect his own interest having made a contribution therein. He intends to question this practice of the foundation. Is his intention meritorious?
- During the Annual Members meeting of Kampante Corporation, Jose a member nominated Atty. Joshua the retainer lawyer of the corporation citing as ground that due to the good legal representations of the latter for the corporation wants him to serve in the board as a trustee. Mr Kent objected on the ground that Atty. Joshua is not qualified not being a member thereat.
a. Is the nomination by Joe of Atty. Joshua valid?
b. Is the objection of Mr. Kent based on the ground cited meritorious?
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