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    LAW

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    Catherine Sellado
    The Philippine Cooperative Code of 2008 established guidelines for cooperatives in the country. Cooperatives are autonomous organizations voluntarily formed by people with a common bond to achieve social, economic, and cultural needs equitably. They adhere to universally accepted principles like democratic member control and concern for community. The Code defines terms like members, boards of directors, and registration. It outlines requirements for forming a cooperative, including a minimum number of members and paid-in capital. Cooperatives must register with the Cooperative Development Authority, which regulates their establishment and operations.

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    LAW

    Uploaded by

    Catherine Sellado
    36 views4 pages
    The Philippine Cooperative Code of 2008 established guidelines for cooperatives in the country. Cooperatives are autonomous organizations voluntarily formed by people with a common bond to achieve social, economic, and cultural needs equitably. They adhere to universally accepted principles like democratic member control and concern for community. The Code defines terms like members, boards of directors, and registration. It outlines requirements for forming a cooperative, including a minimum number of members and paid-in capital. Cooperatives must register with the Cooperative Development Authority, which regulates their establishment and operations.

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    The Philippine Cooperative Code of 2008 established guidelines for cooperatives in the country. Cooperatives are autonomous organizations voluntarily formed by people with a common bond to achieve social, economic, and cultural needs equitably. They adhere to universally accepted principles like democratic member control and concern for community. The Code defines terms like members, boards of directors, and registration. It outlines requirements for forming a cooperative, including a minimum number of members and paid-in capital. Cooperatives must register with the Cooperative Development Authority, which regulates their establishment and operations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    36 views4 pages

    LAW

    Uploaded by

    Catherine Sellado
    The Philippine Cooperative Code of 2008 established guidelines for cooperatives in the country. Cooperatives are autonomous organizations voluntarily formed by people with a common bond to achieve social, economic, and cultural needs equitably. They adhere to universally accepted principles like democratic member control and concern for community. The Code defines terms like members, boards of directors, and registration. It outlines requirements for forming a cooperative, including a minimum number of members and paid-in capital. Cooperatives must register with the Cooperative Development Authority, which regulates their establishment and operations.

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    LAW (COOPERATIVE)

    REPUBLIC ACT No. 9520 February 17, 2009


     Philippine Cooperative Code of 2008
    COOPERATIVE
     Autonomous
     common bond of interest
     voluntarily joined together to achieve their social, economic, and cultural needs
     Equitable; Patronized; Fair share of risk
    Term: Maximum of 50 years
    Extend: 5 years before expiring, not exceed 50 years.
    UNIVERSALLY ACCEPTED COOP PRINCIPLE (MADVECC)
     Member Economic Participation
     Autonomy and Independence
     Democrative Member Control
     Voluntary and Open Membership
     Education, Training and Information
     Cooperation Among Cooperatives
     Concern for Community
    DEFINITION OF TERMS
     MEMBER - either natural or juridical
     GENERAL ASSEMBLY (GA) - duly assembled for the purpose of exercising all the
    rights and performing all the obligations
     BOARD OF DIRECTORS - body entrusted with the management of the affairs
     COMMITTEE - body entrusted with specific functions and responsibilities
     ARTICLES OF COOPERATION - AOC registered under this code includes a registered
    amendment
     BYLAWS – registered under this code includes any registered amendment
     REGISTRATION - operative act granting juridical personality; evidenced by a certificate
    of registration
     COOPERATIVE DEVELOPMENT AUTHORITY (CDA) - government agency in
    charge of the registration and regulation of cooperatives
     UNIVERSALLY ACCEPTED PRINCIPLE - body of cooperative principles adhered to
    worldwide
     OFFECERS OF THE COOP. – member of BOD; committee; general manager or chief
    executive officer, secretary, treasurer, etc.
     SOCIAL AUDIT - cooperative assesses its social impact and ethical performance
     PERFORMANCE AUDIT - audit on the efficiency and effectiveness of the cooperative
     SINGLE-LINE/PURPOSE - undertaking activities which are related to its main line of
    business or purpose
     SERVICE COOP - provide any type of service to its members
     SUBSIDIARY COOP - three or more primary cooperatives, doing the same line of
    business
    * The primary objective of every cooperative is to help improve the quality of life of its members
    CHARACTERISTICS OF COOPERATIVE
     Limited liability
     Separate personality
     Right of succession
    REQUIREMENTS
     Articles of Cooperation
    1. Name of the cooperative
    2. Purposes and scope of business
    3. Term of existence
    4. Area of operation
    5. Names, nationality, and the postal addresses
    6. Common bond of membership
    7. List of names of the directors
    8. Amount of its share capital
     Sworn statement of treasurer elected by subscriber
    25% of authorized capital = subscribed
    25% of subscribed = paid (not less than 15k)
     By-laws

     Bond of accountable officer


     General statement of CDA
    Structure; bookkeeper; purpose of propose coop
     Economic survey
    ORGANIZING PRIMARY COOP
     15 natural person
     Filipino citizen
     Legal age
     Common bond of interest
     Resided within area of operation
     Premembership education seminar (PMES)
    CONVERSION
    Primary Coop MPC (Required by CDA)
    Single Purpose Coop MPC (After 2 years of operation)

    P100,000
    Minimum Paid in Capital (MPC) = Higher
    Required under FS

    REGISTRATION
    APPROVED (cert. of registration)
    CDA
    DENY (appeal at the office of the president within 90 days - if
    silent - deemed approved.

    60 days – if silent –
    deemed approved

    AMENDMENTS OF AOC & BYLAWS


     2/3 of all member, voting, present, quorum
     dissenting members can withdraw their membership
     All amendments to the article of cooperation and/or bylaws shall be submitted to the CDA.
     30 days – if silent – deemed approved

    DIVISION OF COOP
     3/4 of all member, voting, present, quorum
     No appraisal right
    MERGER OF COOP
     3/4 of all member, voting, present, quorum
     dissenting members can withdraw their membership
    TYPES OF COOP
     A. w/ descriptive definition
    1. Advocacy – advocates
    2. Dairy – fresh milk
    3. Fisherman – fishermen
    4. Multipurpose – 2 or more
    5. Workers – worker

     B. Closely – related
    1. Agriculture – living organism
    2. Agrarian – beneficiaries
    3. Consumer – produce & distribute
    4. Marketing – markets
    5. Producers – joint production

     C. Financial
    1. Coop Banks – provides wide range of financial service
    2. Credit – savings & lending services
    3. Financial Service – savings, credit, & other financial services

     D. Service Coop
    o Electric; health services; housing; insurance; transport; education; water service

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