Chapter 1 Flashcards
(32 cards)
It 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 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.
Cooperative
I. Every cooperative shall conduct its affairs in accordance with Filipino culture, good values and experience, and the universally accepted principles of cooperation.
II. The Government and all its branches, subdivisions, instrumentalities and agencies shall ensure the provision of technical guidance, financial assistance and other services to enable said cooperatives to develop into viable and responsive economic enterprises and thereby bring about a strong cooperative movement that is free from any conditions that might infringe upon the autonomy or organizational integrity of cooperatives.
Both are true
It means the operative act granting juridical personality to a proposed cooperative and is evidenced by a certificate of registration.
Registration
It includes a person either natural or juridical who adhering to the principles set forth in the Philippine Cooperative Code and in the Articles of Cooperative, has been admitted by the cooperative as member.
Member
It means the body entrusted with the management of the affairs of the cooperative under its articles of cooperation and bylaws.
Board of Directors
It refers to the government agency in charge of the registration and regulation of cooperatives.
Cooperative Development Authority
It 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 lawfully delegated unto them by the general assembly in accordance with its bylaws.
Representative assembly
It includes the members of the board of directors, members of the different committees created by the general assembly, general manager or chief executive officer, secretary, treasurer, and members holding other positions as may be provided for in their bylaws.
Officers of the cooperative
It refers to a business office outside the principal office where cooperative activities and business operation are undertaken as per approved cooperative development plan.
Branch office
It refers to a business study showing the marketability of products/services, and also the financial, technical, legal and organizational aspects of the proposed business establishment.
Feasibility Study
It refers to a document showing the compilation of detailed policies and procedures in the operation of the cooperative.
Manual of operation
It is a cooperative principle which enunciates that members contribute equitably to, and democratically control, the capital of their cooperatives.
Member economic participation
It is a cooperative principle which enunciates that cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.
Cooperation among cooperatives
It is a cooperative principle which enunciates that 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
It is a cooperative principle which enunciates that cooperatives shall provide education and training for their members, elected and appointed representatives, managers, and employees, so that they can contribute effectively and efficiently to the development of their cooperatives.
Education, training and information
It is a cooperative principle which enunciates that cooperatives work for the sustainable development of their communities through policies approved by their members.
Concern for the community
It refers to three or more primary cooperatives, doing the same line of business, organized at the municipal, provincial, city, special metropolitan subdivision, or economic zones created by law, registered with the CDA to undertake business activities in support of its member-cooperatives.
Federation of cooperatives
It refers to any organization all or majority of whose membership or shareholders come from a cooperative, organized for any other purpose different from that of, and receives technical, managerial and financial assistance from, a cooperative.
Subsidiary cooperative
It is a procedure wherein the cooperative assesses its social impact and ethical performance vis-à-vis its stated mission, vision, goals and code of social responsibility for cooperatives to be established by the CDA in consultation with the cooperative sector.
Social audit
I. Only some cooperatives can set-up cooperative branch office and cooperative satellite office.
II. The State shall encourage the private sector to undertake the actual formation and organization of cooperatives and shall create an atmosphere that is conducive to the growth and development of these cooperatives.
Both are true
It is the official document issued by the CDA authorizing the establishment and operation of a cooperative branch.
Certificate of Authority
It refers to an office established by a cooperative outside of its principal/main office but within its area of operation to provide limited services to its members but which does not however maintain books of accounts as it is done only by the principal/main office.
Satellite office
It refers to 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 refers to anybody entrusted with specific functions and responsibilities under the bylaws or resolution of the general assembly or the board of directors.
Committee
