3 - Cooperatives | Listening

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REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS (RFBT) CPALE Concept Notes

Topics Covered:

Principles, Organization, and Registration

Cooperative - 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

Separate Juridical Personality

Cooperative Principles

Two. Democratic Member Control

Three. Member Economic Participation

Four. Cooperating Among Cooperatives

Secondary Cooperatives

Tertiary Cooperatives

Federation

Union

Five. Autonomy and Independence

Six. Education, Training and Information

Seven. Concern for Community

Required Submission to the CDA upon Organization and Registration

Approval of Applications for Registration Must be completed within sixty days from filing

Registration Fee of Proposed Federation

Capital

Advocacy Cooperative

Membership, Administration, Responsibilities, Rights Kinds of Membership

Requisites:

b. Associate Member Non-voting

a. Voluntary Withdrawal Requisites:

General Assembly

Delegation of Powers by the General Assembly

Non-Delegable Powers of the General Assembly

Board of Directors

Term

Powers

Qualifications

Prohibitions

Special Issues to Directorship

XPNs (Must meet all to be valid):

XPN to XPNs:

Disloyalty of Directors

Cooperative Officers

Prohibitions for Cooperative Officers

Removal of Elected Officers

Removal of Directors Only for cause after due hearing

Vacancies of Directorship

. Ethics Committee

Compensation of Directors

XPNs:

Meetings

Regular Meetings

Special Meetings

. In Person

. By Representative Delegate

G.R. At least twenty-five percent of Regular Members XPNs:

Audit, Inquiry, and Right to Examine

Directors

Regular Reports of Program of Activities

Annual Audit

Members' Right to Examine

XPNs:

Allocation and Distribution of Funds

Limitation of Members' Share Capital Holdings

Transfer or Assignment of Members' Shares or Interest Requisites:

Principle of Patronage Refunds

Patronage Refunds

Paid-up Share Capital

DISSOLUTION Effective only upon CDA's Revocation of the Certificate of Registration

Two. By the CDA

Three. Failure to Organize for two years

Four. Continuous Inoperation for two years Not automatic, upon due notice and hearing

Reserve Fund

Education and Training Fund

LIQUIDATION

Distinctions with Corporations and Voting Requirements

Corporation

From SEC's issuance of Certificate of Incorporation

Juridical Personality

Term

Renewal of Term

Articles of Cooperation (AOC)

Incorporators or Registrants

Manner of Management

Minimum Paid-up Capital

Officers

Death of Stockholder or Member

Merger or Consolidation

GA's Delegation of Delegable Powers

Ratification of Self-Dealing and Disloyal Directors

Amendment of Articles of Cooperation

Corporation

Number: one to fifteen

Qualification:

Directors or Trustees

President

Two-thirds vote of Shareholders

Does not dissolve or affect the corporation

Number: five to fifteen

Qualification:

Directors

As to Primary Cooperatives:

Twenty-five percent Maximum

One year holding period

Chairperson

Three-fourths vote of Regular Members

A valid ground for termination of membership

Three-fourths

Overview

The document serves as a comprehensive guide on the regulatory requirements for establishing and managing cooperatives, detailing legal structures, member rights, and the responsibilities of cooperative officers, aiming to promote understanding and compliance within the cooperative sector.

Key Points

1Detailed requirements for the registration and organization of cooperatives are provided
2The document emphasizes the principles of cooperative management, including democratic control and member participation
3It outlines various types and categories of cooperatives and their specific functions
4Important processes such as appeal for registration denial and membership termination are covered
5The roles and responsibilities of cooperative officers are clearly defined within the framework.

Details

Category: Law and Legal Studies

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