Cooperatives -- Articles Of Cooperation
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Cooperative By-Laws? By- laws should are the set of rules that determines how a cooperatives is to be run without confusion. In general, by-laws should be consistent with the provisions of the Cooperative Code of the Philippines (RA 6938). The by-laws include: •
The qualifications for membership; how they are acquired, maintained and lost;
•
The rights and obligations of members;
•
The condition for transfer of a share of interest;
•
The rules and procedures covering agenda, time, place, and manner of calling, covering , conduct meeting, quorum requirements, voting system, and other, matters related to the business affairs of the general assembly, board of directors, and committees;
•
The general conduct of the affairs of the cooperative , including the powers and duties of the general assembly, board of directors, committees and the officers, and their qualifications and disqualifications;
•
The manner in which capital may be raise and purpose for which it can be utilized;
•
The mode of custody and investment of net surplus;
•
The accounting and auditing systems.
•
The manner and limitations of loaning and barrowing, including limitations;
•
The methods of distribution of net surplus;
•
The manner of adopting, amending, repealing, and abrogating by-laws;
•
A conciliation or mediation mechanism for the amicable settlement of disputes among members, directors, officers and committees; and
•
Other matter pertaining to the purpose and activities of the cooperative.
What does The Article of Cooperation contain? The Article of Cooperation is a duly notarized document that legally binds all the signatories in the formation of a cooperative. It should contain: •
The name of the cooperative which shall include the word " cooperative, " e.g. Sta. Maria Multi-Purpose Cooperative;
•
The purpose of the cooperative and scope of business;
•
The term of existence of the cooperative (not more than 50 years);
•
The area of operation and the postal address of the registrants;
•
The common bond of membership;
•
The list of names of the directors who shall manage the cooperative; and
•
The amount of its share capital, the names, and residences of its contributors and a statement of whether the cooperative is primary, secondary of tertiary in accordance with Article 23 of R.A 6938.
The qualifications for membership; how they are acquired, maintained and lost;
•
The rights and obligations of members;
•
The condition for transfer of a share of interest;
•
The rules and procedures covering agenda, time, place, and manner of calling, covering , conduct meeting, quorum requirements, voting system, and other, matters related to the business affairs of the general assembly, board of directors, and committees;
•
The general conduct of the affairs of the cooperative , including the powers and duties of the general assembly, board of directors, committees and the officers, and their qualifications and disqualifications;
•
The manner in which capital may be raise and purpose for which it can be utilized;
•
The mode of custody and investment of net surplus;
•
The accounting and auditing systems.
•
The manner and limitations of loaning and barrowing, including limitations;
•
The methods of distribution of net surplus;
•
The manner of adopting, amending, repealing, and abrogating by-laws;
•
A conciliation or mediation mechanism for the amicable settlement of disputes among members, directors, officers and committees; and
•
Other matter pertaining to the purpose and activities of the cooperative.
What does The Article of Cooperation contain? The Article of Cooperation is a duly notarized document that legally binds all the signatories in the formation of a cooperative. It should contain: •
The name of the cooperative which shall include the word " cooperative, " e.g. Sta. Maria Multi-Purpose Cooperative;
•
The purpose of the cooperative and scope of business;
•
The term of existence of the cooperative (not more than 50 years);
•
The area of operation and the postal address of the registrants;
•
The common bond of membership;
•
The list of names of the directors who shall manage the cooperative; and
•
The amount of its share capital, the names, and residences of its contributors and a statement of whether the cooperative is primary, secondary of tertiary in accordance with Article 23 of R.A 6938.
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