REPUBLIC ACT 9520 PDF

17 Apr RA 1. The Philippine Cooperative Code of ; 2. Signed by the President into law on February 17, and effective fifteen (15) days. 8/23/ 1. COOPERATIVE UPDATES. FE D. CAINGLES, CPA. REVISED. IMPLEMENTING. RULES AND. REGULATIONS OF RA. Name: Cooperative Code of the Philippines, (R.A. ). Country: Philippines. Subject(s): Cooperatives. Type of legislation: Law, Act. Adopted on.

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From and after any such conveyance, all interests which the cooperative had in the properties are terminated. Except as expressly provided by this Code, Presidential Decree No. Failure to convert within said period shall mean automatic withdrawal of their associate membership. Provided, that such fine is fair and reasonable under the circumstances as determined by the Board of Directors.

Announcement of the Merger or Consolidation may be done by posting in at reepublic three 3 950 places in their respective areas of operation; or publication in a newspaper of general circulation once a week for three 3 consecutive weeks.

Applicability of Insurance Laws. The Authority, upon written request, shall provide necessary assistance in the documentary requirements for the loans, credit, grants, donations and other financial support; ” 9 To avail of preferential rights granted to cooperatives under Republic Act No. Voting Requirement for Registration.

Formulation of rules and procedures and the conduct of meetings of General Assembly, Board of Directors and Committees. Unless agreed otherwise, repiblic parties shall equally share the cost of the proceedings including the Arbitrator’s Fee. All studies, donations, legacies, grants, aids and such other assistance from any local or foreign institutions whether public or private shall be subjected to escheat. In agrarian reform and resettlement areas, the Government shall grant to agrarian reform cooperatives preferential treatment in the construction, maintenance and management of roads, bridges, canals, wharves, ports, reservoirs, irrigation systems, waterworks systems, and repjblic infrastructures with government funding.

Every director, officer, and employee handling funds, securities or property on behalf of any cooperative shall be covered by a surety bond to be issued for a duly registered insurance or bonding company for the faithful performance of their republkc duties and obligations.

Renewal of Franchise and Vehicle Registration. These guidelines shall give due recognition to the unique nature and character 95220 cooperative banks. These powers shall be enumerated under the bylaws of the cooperative.

Instrument for Salary or Wage Deduction. All associate members who are natural persons shall be given two 2 years to become regular members.

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The method for the issuance of share certificates shall prescribed in its bylaws. Agrarian reform cooperatives may be organized and registered under this Code only upon prior written verification by the DAR to the effect that the same is needed and desired by the beneficiaries; results of a study that has been conducted fairly indicate the economic feasibility of organizing the same and that it will be economically viable in its operations; and that the same may now be organized and registered in accordance with requirements of this Code.

Referendum – shall refer to a mechanism of securing the approval of the general membership of an Electric Cooperative on issues affecting its registration, operation, and management.

Additional Reports for Federations and Unions. Said registration shall not result in the revocation of the condoned loans under Republic Act No. The regular meeting shall be conducted to elect the sector, chapter, or district Representatives or Delegates and for such other purposes as maybe provided in the Bylaws.

The said union or federation shall submit to the Authority and to its contributing cooperatives the following schedules: Contents of the Articles of Cooperation. Credit cooperatives may organize chapters or subsidiaries, or join leagues and federations for the purpose of providing commonly needed essential services including but not limited to the following: Provided, That in case of a denial of the application for registration, an appeal shall lie with the Office of the President within ninety 90 days from receipt of notice of such denial: No cooperative or method or act thereof which complies with this Code shall be deemed a conspiracy or combination in restraint of trade or an illegal monopoly, or an attempt to lessen competition or fix prices arbitrarily in violation of any laws of the Philippines.

Cooperative Development Authority – Republic Act

Cooperatives Not in Restraint of Trade. A FSC is a financial organization owned and operated by its members and authorized to provide the following services, exclusively to its members: These Rules and Regulations shall be subject to automatic review three 3 years after the effectivity thereof. A director so elected to fill a vacancy shall serve only the unexpired term of his predecessor in office.

ProvidedfurtherThat the notice of such meeting is sent to each member of record either by registered mail or by personal delivery at least thirty 30 days prior to said meeting. The technical repunlic to be provided shall include, among others, training supervision and examination.

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However, should the last day of filing falls on a non-working day in the locality where the reporting cooperative is situated. Provided, That in the case of dissolution of the cooperative, said donated capital shall be subject to escheat; and ” 6 Electric cooperatives registered and confirmed with the Authority under Republic Act No. Water Supply – shall refer to the supply of potable water as provided by the cooperative for domestic, industrial, commercial, and other uses.

Other matters relating to the internal affairs of Agrarian Reform Cooperatives. The qualifications for admission to membership and the payment to be made or interest to be acquired as a condition to the exercise of the rwpublic of membership.

Agrarian Reform Cooperative – shall refer to one organized by marginal farmers majority of which are Agrarian Reform Beneficiaries duly registered with the Authority for the purpose of developing an appropriate system of land tenure, land development, land consolidation or land management at areas covered by agrarian reform and for other purposes as provided by law. Extension Offices – shall refer to the offices of the Authority covering one geo-political region each as their area of jurisdiction.

Cancellation of the Certificates of Registration and delisting of the name of the cooperative in the Cooperative Registry.

Provided, That in case of death or insanity of an agrarian reform beneficiary-member of a cooperative, the repjblic may assume the duties and responsibilities of the original member. ProvidedThat these rights shall only be utilized exclusively by cooperatives: Preparation of the Submit Reports on Time. Sector, Chapter, or District Assembly Meeting.

ProvidedThat they shall not be entitled to the benefits and privileges under this Code. A Guardian Cooperative shall supervise only one 1 laboratory cooperative. All rates and tariffs of electric cooperatives registered under the Authority shall be subject to the rules on application and approval of and by the Energy Regulatory Commission for distribution utilities.

Failure of the cooperative to promptly provide justifiable cause for its failure to operate shall warrant the Authority to delete its name from the roster of registered cooperatives and shall be deemed dissolved. Financing and Technical Assistance.