TEL3 By-Laws (10 of 10)
for non-depreciable and various depreciable assets shall be determined by the Corporation for purposes of uniformity. while the rates of depreciation of the different assets comprising the common areas corresponding to each member shall be determined by the latter.
Section 4. Corporate Seal. The Corporation shall adopt a corporate seal containing the name of the Corporation and the place and year of incorporation.
Section 5. Interpretation. The Board shall have the full power and authority to interpret these By-Laws.
Section 6. Repeal and Amendment. These By-Laws may be repealed or amended or a new one adopted by the vote of the members of the Corporation representing at least a majority of all the members thereof and at least a majority of the Board at a meeting duly called for the purpose.
ADOPTED this 8th day of November 2003 at Quezon City. Metro Manila, Philippines by the unanimous vote of the undersigned members.
Comments
Post a Comment