Chapter 1 Flashcards
(46 cards)
Article 1 shall be known as
Philippine Cooperative Code of 2008
It is the declared policy of the state to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of economic development and social justice
Declaration of policy
Is 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….
Cooperative
Every Cooperative shall conduct it’s affairs in accordance with Filipino culture,good values and experience and the universally accepted principles of cooperation
Cooperative principles
Universally accepted principles of cooperation which include,but are not limited to, the following
Voluntary and Open membership
Democratic member control
Member economic participation
Autonomy and independence
Education, training and information
Cooperation among cooperatives
Concern for community
Cooperatives are voluntary organizations,open to all persons able to use their services and willing to accept the responsibilities of membership,without gender,social,racial,cultural,political,or religious discrimination
Voluntary and Open membership
Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decision
Democratic member control
In this, members have equal voting rights of one member, one vote
Primary cooperatives
Members contribute equitably to, and democratically control, the capital of their cooperative
Member economic participation
They shall receive limited compensation or limited interest,if any, on capital subscribed and paid as a condition of membership
Member economic participation
Cooperatives are autonomous,self help organizations controlled by their members
Autonomy and independence
Cooperatives shall provide education and training for their members, elected and appointed representatives, managers, employees so that they can contribute effectively and efficiently to the development of their cooperatives
Education, training and information
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures
Cooperation among cooperatives
Cooperatives work for the sustainable development of their communities through policies
Concern for community
Includes a person either natural or juridical,who,adhering to the principles set forth in this code and in the articles of cooperation
Member
It shall mean the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations pertaining to cooperatives
General assembly
It shall mean that body entrusted with the management of the affairs of the cooperatives under it’s articles of cooperation and bylaws
Board of directors
It shall refer to any body entrusted with specific functions and responsibilities under the bylaws or resolution of the general assembly or the board of directors
Committee
Means the articles of cooperation registered under this code and includes a registered amendment thereof
Articles of cooperation
Means that the registered under this code and includes any registered amendment thereof
Bylaws
Means the operative act granting juridical personality to a proposed cooperative and is evidenced by a certificate of registration
Registration
Refers to the government agency in charge of the registration and regulation of cooperatives as such hereinafter referred to as the authority
Cooperative development authority
Mean that body of cooperative principles adhered to worldwide by cooperatives
Universally accepted principles
Means the full membership of a body of representatives elected by each of the sectors,chapter or district of the cooperative duly assembled for the purpose of exercising such powers …
Representative assembly
