Republic Acts1 min read
Section 12October 21, 1997, Sec./Art. 12
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Trustees. – Only members are eligible as trustees of an Association: Provided, That in the case of a merger or consolidation of Associations duly approved by the Monetary Board, the limitation on the maximum number of trustees in a corporation, as provided for in the Corporation Code, shall not be applied for a maximum period of three (3) years so that membership in the new board may include up to the total number of trustees provided for in the respective articles of incorporation of the merging or consolidating Associations.
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