BOARD RESOLUTION NO. 12-12
AUTHORIZING THE TRANSFER OF SOME AMOUNTS FROM THE CAPITAL CONTRIBUTION ACCOUNTS IN AMWSLAI UNDER THE NAMES OF COL CONRADO K TOLENTINO AND LTCOL JOANNIS LB DIMAANO TO THE ACCOUNTS OF SIX OTHER OFFICERS
WHEREAS, there is an amount of around Thirty Million Pesos (P30,000,000.00) which are invested as capital contributions in the Air Materiel Wing Savings and Loan Association, Inc. (AMWSLAI) under the names of Col Conrado K Tolentino and LtCol Joannis LB Dimaano as trustees;
WHEREAS, the PMAAAI Board of Directors see the need to reduce the amount under each trustee and transfer some amounts to the accounts under the name of six (6) officers who have volunteered to accommodate said amounts;
WHEREAS, the six (6) officers are LtGen Christie B Datu, P/CSupt Bernardo C Florece Jr, Col Raymundo R Acorda, LtCol Federico B Enriquez, P/SSupt Leo Angelo D Leuterio and Major Jason M Saldua who have opened their capital contribution accounts in AMWSLAI;
NOW, THEREFORE, BE IT RESOLVED, as it is hereby resolved, that the PMAAAI Board of Directors authorize, as it is hereby authorizes, the transfer by debit memo of Nine Million Pesos (P9,000,000.00) each from the accounts of Col Tolentino and LtCol Dimaano to be distributed at Three Million Pesos (P3,000,000.00) each to the accounts of LtGen Datu, P/CSupt Florece, Col Acorda, LtCol Enriquez, LtCol Lachica and Major Saldua effective on or after 01 July 2012.
RESOLVED, FURTHER, that the above cited investments be secured with corresponding Deeds of Undertaking or MOA wherein the above named officers acknowledge that the amounts invested under their names belong to PMAAAI and undertake to deliver the said amounts including dividends to PMAAAI as may be demanded by the latter.
APPROVED by the Board of Directors during its regular meeting on 21 June 2012 in Camp General Emilio Aguinaldo, Quezon City.
CAV EDGARDO E BATENGA ’63
CAV BERNARDO C FLORECE, JR ‘83
CAV FEDERICO B ENRIQUEZ ‘93