(NAR) VOL. 24 NO. 1 / JANUARY - MARCH 2013
In view of the foregoing premises, a parent cooperative may organize more than one (1) subsidiary cooperatives provided that for every subsidiary cooperative, the parent cooperative must have a net worth of Ten Million (P10,000,000.00) Pesos in its latest audited financial statements [e.g. one subsidiary cooperative = Ten Million (P10,000,000.00) Pesos, two subsidiary cooperatives = Twenty Million (P20,000,000.00) Pesos , etc.], in addition to the other requirements as provided under Section 2, Rule II of IRR of R.A. 9520.
For information and guidance.
APPROVED per CDA Board Resolution No. 050, s-2013 dated February 7, 2013, Quezon City, Philippines.
For the Board of Administrators
By:
(SGD.) EMMANUEL M. SANTIAGUEL, Ph.D.
Chairman