(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015
(i) | Area of Operation – refers to the area where the cooperative operates and where its members come from as provided for in their Articles of Cooperation and By-laws |
(ii) | Associate Member – refers to a member of a cooperative who has no right to vote nor be voted upon and is entitled only to limited rights, privileges and membership duration as provided in the By Laws of the cooperative, the Philippine Cooperative Code of 2008, and its Implementing Rules and Regulation. |
(iii) | Authority – refers to Cooperative Development Authority. |
(iv) | Authorized Share Capital – refers to the capitalization of the cooperative as provided in the Articles of Cooperation and as approved by the Authority. |
(v) | Bond of Membership – refers to the condition where members group themselves to attain their common goals and objectives which may either be residential, occupational, associational or institutional |
(vi) | Cooperative – refers to an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles. |
(vii) | Agriculture Cooperative – refers to a primary cooperative which or whose members are involve/engage in raising/culture of plants, animals, fungi, and other living organism for productive and economic purpose and in related activities that lead to the reduction of cost and/or value addition of outputs. |
(viii) | Agriculture – refers to the art and science of raising/culture of plants, animals, fungi and other living organisms for economic purposes. |
(ix) | Registration – refers to the operative act of the Authority granting juridical personality to a proposed cooperative and is evidenced by the Certificate of Registration. |
(x) | Regular Member – refers to one who has complied with all the membership requirements and is entitled to all the rights and privileges of membership. |
(xi) | Share – refers to a unit of capital in primary cooperative the par value of which is fixed at a minimum of One Hundred Pesos (P100.00) to a maximum of One Thousand Pesos (P1,000.00) which may be divided into common share capital and preferred share capital. |
(xii) | Share Capital – refers to the money paid or required to be paid by the members for the conduct of the operation of the cooperative. |
3.1 | All original; |
3.2 | The Articles of Cooperation shall be signed by all the co-operators on each and every page; and |
3.3 | The By-Laws shall be signed by all the members on the adoption page. |
10.1 | Technical assistance. The proposed agriculture cooperative may inquire from the Extension Office the list of requirements, and any CDS may assist in explaining the procedures and compliance thereto. | |
10.2 | Submission of required documents in accordance with Memorandum Circular 2015-01 on Revised Guidelines Governing the Registration of Cooperatives. | |
10.3 | Validation and Verification of Submitted Documents. Applications for registration shall be subject to verification and validation prior to registration. | |
10.3.1 | The CDA Extension Office shall appoint a technical personnel as validator upon receipt of new documents applying for registration. | |
10.3.2 | Authorized validator conducts validation within three (3) days from appointment to ensure that necessary information for the preparation of complete report with recommendation are gathered. 10.3.3 Validator shall submit report to the Registration Unit within five (5) days from date of completed validation activity. |
(a) | The authorized share capital of an agriculture cooperative shall be provided for in its Articles of Cooperation. At least twenty five percent (25%) of the authorized share capital shall be subscribed by the members and at least twenty five (25%) of the subscribed share capital shall be paid by the members prior to registration. |
(b) | The paid-up capitalization requirement for primary cooperatives shall not be less than Fifteen Thousand Pesos (P15,000.00). |
(a) | The word “Agriculture”, “Cooperative”, “Kooperatiba” or “Cooperativa” shall be included in the name of the cooperative, which name shall likewise specify the type of cooperative in accordance with these Guidelines. |
(b) | No cooperative name shall be allowed by the Authority if the proposed name is identical or deceptively or confusingly similar to that of any existing cooperative, contrary to public policy, moral and existing laws. |
(a) | The share capital of a cooperative may consist of common share capital and preferred share capital if the latter is provided for under the cooperative’s articles of cooperation and by-laws. Provisions of preferred shares as part of the Authorized Share Capital is necessary if the cooperative is accepting associate members. Associate members will be issued preferred shares while regular members may be issued both common and preferred shares. |
(b) | Should preferred share capital be offered, the rights and privileges of holders of preferred shares shall be provided for in the By-Laws of the cooperative. |
(c) | Preferred share capital shall not exceed Twenty Five (25%) percent or one fourth (1/4) of the total authorized share capital of the cooperative. |
(d) | The paid up and subscription of the common share capital contribution shall strictly adhere to the twenty-five percent (25%) requirement based on the authorized capital share. |
(e) | No member shall own more than ten (10%) percent of the subscribed share capital of the cooperative. |
(a) | Residential – members are farmers who are actually and physically residing within the area of operation. |
(b) | Occupational – members are those who are engage in raising, culture of plants, animals |
(c) | Associational – members are from a registered association, group, club, cultural and other similar aggrupation of farmers. |
17.1 | The following persons shall be bonded: | |
17.1.1 | Chairperson; | |
17.1.2 | Treasurer and Cashier; | |
17.1.3 | Manager; | |
17.1.4 | Warehouseman; | |
17.1.5 | Loan/deposit Collectors; | |
17.1.6 | Signatories of checks and other financial instruments; and | |
17.1.7 | Such other persons as may be authorized by the cooperative to act as a custodian of funds, merchandise, inventories, securities and other assets of the cooperative. | |
17.2 | The board of directors shall determine the adequacy of such bonds. For this, the Board of Directors shall be guided based on the initial net worth of the cooperative which shall include the paid-up capital, the membership fees and the other assets of the cooperative at the time of registration. |