Articles Of Cooperation Of Mmjoda.docx

ARTICLES OF COOPERATION of MUNOZ-MONUMENTO JEEPNEY OPERATORS & DRIVERS ASSOCIATION TRANSPORT AND MULTI-PURPOSE COOPERATIVE KNOW ALL MEN BY THESE PRESENTS: We, the undersigned cooperators, all of legal age and Filipino citizens, have on this day voluntarily agreed to organize into a transport and multi-purpose cooperative, under the laws of the Republic of the Philippines, herein after referred to as the MUNOZ-MONUMENTO JEEPNEY OPERATORS & DRIVERS ASSOCIATION TRANSPORT AND MULTI-PURPOSE COOPERATIVE. . AND WE HEREBY CERTIFY: Article I Name of the Cooperative That the name of this Cooperative JEEPNEY OPERATORS & DRIVERS MULTI-PURPOSE COOPERATIVE

shall be MUNOZ-MONUMENTO ASSOCIATION TRANSPORT and

Article II Purposes The purposes of this cooperative are the following: (1) To encourage thrift and savings mobilization among the members; (2) To generate funds and extend credit to the members for productive and prudent purposes; (3) To encourage among members systematic production and marketing; (4) To provide goods and services and other requirements to the members; (5) To develop expertise and skills among its members; (6) To acquire lands and provide housing benefits for the members; (7) To insure against losses of the members; (8) To promote and advance the economic, social and educational status of the members; (9) To establish, own, lease or operate cooperative banks, cooperative wholesale and

retail complexes, insurance and agricultural/industrial processing enterprises, and public markets; (10) To coordinate and facilitate the activities of cooperatives; (11) To advocate for the cause of the cooperative movements; (12) To ensure the viability of cooperatives through the utilization of new technologies; (13) To encourage and promote self-help or self-employment as an engine for economic growth and poverty alleviation; and (14) To undertake any and all other activities for the benefits and welfare of members.

Article III Goals Objectives and Goals. The principal objective of this cooperative is to help improve the quality of life of its members. Towards this end, the cooperative shall have the following goals:

(a) Provide goods and services to its members to enable them to attain increased income, savings, investments, productivity, and purchasing power, and promote among themselves equitable distribution of net surplus through maximum utilization of economies of scale, cost-sharing and risk-sharing; (b) Provide optimum social and economic benefits to its members; (c) Teach them efficient ways of doing things in a cooperative manner; (d) Propagate cooperative practices and new ideas in business and management; (e) Allow the lower income and less privileged groups to increase their ownership in the wealth of the nation; and (f) Cooperate with the government, other cooperatives and people-oriented organizations to further the attainment of any of the foregoing objectives.

(g) To do and perform such other activities as may be necessary to attain the foregoing goals.

Article IV Powers and Capacities The Cooperative shall have the following powers and capacities, namely: 1. To have the exclusive use of its registered name; 2. To power to sue and be sued; 3. The right of succession; 4. The power to amend its articles of cooperation in accordance with the provisions of RA 9520; 5. The power to adopt bylaws not contrary to law, morals or public policy, and to amend and repeal the same in accordance with RA 9520; 6. The power to purchase, receive, take or grant, hold, convey, sell, lease, pledge, mortgage, and otherwise deal with such real and personal property as the transaction of the lawful affairs of the cooperative may reasonably and necessarily require, subject to the limitations prescribed by law and the Constitution; 7. The power to enter into division, merger, or consolidation, as provided under RA 9520; 8. The power to avail of loans, be entitled to credit and to accept and receive grants, donations and assistance from foreign and domestic sources subject to the conditions of said loans, credits, grants, donations or assistance that will not undermine the autonomy of the cooperative; and 9. To exercise such other powers granted under RA 9520 or necessary to carry out its purposes as stated in this articles of cooperation.

Article V Term of Existence The term for which this Cooperative shall exist is fifty (50 ) years from the date of its registration with the Cooperative Development Authority.

Article VI Area of Operation/Bond of Membership That the membership of this Cooperative shall come from the drivers and operators belonging to Munoz Monumento Jeepney Operators and Drivers Association. The Munoz Monumento Jeepney Operators and Drivers Association plies the PUJ route of Munoz Trinoma-Monumento and vice versa. Its principal office shall be located at No. 75 Tadeo Street, Karuhatan, Valenzuela City.

Article VII Name and Address of Cooperators That the name and complete postal address of the cooperators are as follows:

NAME OF COOPERATORS

COMPLETE POSTAL ADDRESS

Article VIII Board of Directors

That the number of Directors of this Cooperative Union shall be eleven (11 ) and the name and address of the Board of Directors who are to serve until their successors shall have been elected and qualified as provided in the by-laws of this Cooperatove, they are: Name of Director

Address

ARTICLE IX Authorized Share Capitalization That the Authorized Share Capital of this Cooperative is TWO HUNDRED FIFTY THOUSAND PESOS (Php ), divided into TWO THOUSAND FIVE HUNDRED (2,500) shares with a par value of ONE HUNDRED PESOS (Php 100.00 ) per share.

ARTICLE X. Subscribed and Paid-up Share Capital That of the authorized share capital, the amount of TWO HUNDRED FIFTY THOUSAND PESOS (P250,000.00) has been subscribed, and fully paid by the following members-subscribers:

NAME OF SUBSCRIBERS

SUBSCRIBED/PAID UP CAPITAL

NAME, SIGNATURE OF COOPERATORS, TIN/VALID ID

SIGNED IN THE PRESENCE OF: ___________________________

______________________________

ACKNOWLEDGMENT

Before me, a Notary Public for and in the City of, on this day of 2019, the following persons personally appeared with their valid ID and or TIN stated opposite their names above. All known to me to be the same persons who executed the foregoing Articles of Cooperation, and acknowledged to me that the same is their free will and voluntary deed. This instrument consists of seven (7) pages including this page where the acknowledgment is written. WITNESS my hand and seal this day and place first above mentioned. .

Page No.: _____________ Doc. No. _____________ Book No.: _____________ Series of 2019.

REPUBLIC OF THE PHILIPPINES) )S.S. TREASURER’S AFFIDAVIT I, GRETCHEN GUILING-BALDEO, of legal age, married, and resident of No. 75 Tadeo Street, Karuhatan, Valenzuela City, after having duly sworn to in accordance with law hereby depose and state that: That I am the duly elected Treasurer of the Munoz Monumento Jeepney Operators and Drivers Transport and MultiPurpose Cooperative, to act as such until my successor shall have been appointed and qualified in accordance with the By-laws of the Cooperative; That as such, I hereby certify that the authorized share capital of this cooperative is TWO HUNDRED FIFTY THOUSAND PESOS (Php ), divided into TWO THOUSAND FIVE HUNDRED (2,500) shares with a par value of ONE HUNDRED PESOS (Php 100.00 ) per share. That of the authorized share capital, the amount of TWO HUNDRED FIFTY THOUSAND PESOS (P250,000.00) has been subscribed, and fully paid by the following members-subscribers: That I have actually received the total paid-up share capital and membership fee. IN WITNESS WHEREOF, I have hereunto affixed my signature this ___________ day of ______________, in ________________, Philippines.

GRETCHEN GUILING-BALDEO AFFIANT

SUBSCRIBED AND SWORN TO before me, a Notary Public for and in City, this day of 2019, in by affiant who exhibited to me her SSSUMID CRN: 0111-3766232-3

NOTARY PUBLIC Doc. No. ________ Page No. ________ Book No. ________ Series of 2019.