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BLR 221 > Chapter 4: Adminsitration > Flashcards

Chapter 4: Adminsitration Flashcards

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1
Q

Who consists the general assembly?

A

Members who are entitled to vote

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2
Q

This is the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations pertaining to cooperatives.

A

General Assembly

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3
Q

What is the highest policy making body of a cooperative?

A

General Assembly

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4
Q

Can the exclusive powers of the general assembly be delegated?

A

GR: No

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5
Q

When may the exclusive powers of the general assembly be delegated?

A

By 3/4 votes of all members delegate some of its powers to a smaller body of the cooperative

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6
Q

What are the exclusive powers of the general assembly? (3)

A
  1. To amend the AOC and bylaws
  2. To elect BOD and remove them
  3. To approve developmental plans of the cooperative
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7
Q

When are regular meetings of the general assembly held?

A

Annually on a date fixed in the bylaws

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8
Q

If a date for regular meetings of the general assembly is not fixed in the bylaws, when is it held?

A

Any date within 90 days after the close of each fiscal year

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9
Q

What is the format of notice of regular meetings of the general assembly?

A

In writing

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10
Q

When are special meetings of the general assembly held?

A

Any time as called by majority vote of the BOD or as provided in the bylaws

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11
Q

In special meetings of the general assembly, how many weeks prior to the meeting must the notice in writing be sent to members?

A

1 week

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12
Q

If at least 10% of the members sends a request in writing to the BOD to call for a special meeting, how many days does the BOD have to schedule and hold that meeting?

A

1 month

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13
Q

If the board fails to call a regular or a special meeting within the given period of 1 month upon petition of 10% of all the members, what may the Authority do?

A

Issue an order to the petitioners directing them to call a meeting of the general assembly

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14
Q

In the case of a newly approved cooperative, a special general assembly shall be called, as far as practicable, within how many days from approval?

A

90 days

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15
Q

True or False: Notice of any meeting may not be waived, expressly or impliedly, by any member.

A

False. It may be waived.

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16
Q

What is the quorum for the general assembly?

A

25% of all members entitled to vote

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17
Q

In the case of electric cooperatives, what is their quorum?

A

50% + 1%

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18
Q

In the case of cooperative banks, what is their quorum?

A

5% of members

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19
Q

What is the voting system in a primary cooperative?

A

1 member 1 vote (straight voting)

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20
Q

In the case of secondary and tertiary cooperatives, what is their voting system?

A

1 basic vote + incentive votes not exceeding 5 votes

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21
Q

The bylaws of a cooperative other than what kind of cooperative may provide for voting by proxy?

A

Primary cooperative

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22
Q

True or False: Primary cooperative members may vote by proxy.

A

False

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23
Q

The direction and management of the affairs of a cooperative shall be vested in?

A

the BOD

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24
Q

What is the number of members in a BOD?

A

Not less than 5 nor more than 15 (5-15)

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25
Who elects the members of the BOD?
General Assembly
26
For how many years is the term of a director?
2 years
27
What are the requirements to be a director?
1. must be a member with voting right 2. possess all qualifications and none of disqualifications
28
Can a non-member be elected as director? How?
Yes by resolution of BOD, they may admit one appointed by a financing institution they're affiliated.
29
True or False: A director may still hold another position directly involved in the day to day operation and management of the cooperative.
False. He may not
30
Does a non-member director have a voting right?
No
31
In the case of primary cooperatives, how often are regular meetings of the BOD held?
at least once a month
32
What is the quorum for meetings of the BOD?
Majority
33
Can directors attend or vote by proxy at board meetings?
No
34
How are vacancies in the board, other than expiration of term, filled?
By a vote of at least a majority of the remaining directors, if still constituting quorum
35
How are vacancies in the board, other than expiration of term, filled if there is no more quorum of the BOD?
the general assembly through a regular or special meeting elect a director to serve for the unexpired term
36
From which body do officers of the cooperative come from?
The BOD
37
Is loss of confidence a valid ground for removal of an officer?
No unless it causes the loss of the honesty and integrity of such officer
38
What is the limitation on being officers of the cooperative?
No two or more persons should be related up to the 3rd degree of consanguinity or affinity
39
Who appoints an executive committee?
BOD
40
This is a committee created in the bylaws to be appointed by the BOD with such powers and duties as may be delegated to it in the bylaws or by majority vote of all the members of the BOD.
Executive Committee
41
This is the certificate issued to the cooperative after complying with the rules and regulations being implemented by the CDA.
Certificate of Compliance
42
What is the liability of directors, officers, and committee members?
Jointly and Severally Liable
43
To whom are erring directors, officers, and committee members liable to?
Cooperative Members Other persons
44
How are directors compensated?
GR: No compensation
45
What is the exception to the no compensation rule of directors?
Reasonable per diems
46
When should directors not be given per diems?
when in the preceding calendar year, the cooperative reported a net l loss or had a dividend rate less than the official inflation rate of 4th esam eyear
47
Can compensation other than per diems be given to directors?
Yes by a majority vote of the general assembly
48
True or False: No additional compensation other than per diems shall be paid during the first year of existence of any cooperative.
True
49
Who fixes the compensation of all other employees of the cooperative?
BOD
50
This refers to the allowance given as a reimbursement for extra expense incurred by one in the performance of his duties.
Per Diem
51
What is the status of contracts entered into by the cooperative with one or more of its directors, officers, or committee members?
Voidable at the option of the cooperative
52
Where the first two conditions set in Article 47 are absent, how can the contract be ratified?
3/4 vote of all members
53
What amount is the liability of a disloyal director who acquires for himself an opportunity which should belong to the cooperative?
Double the profits that would have otherwise accrued to the cooperative
54
Can a disloyal directors act be ratified?
Yes by 3/4 vote
55
If the disloyal director used his own funds in the venture, does he not get to refund the cooperative the profits that would have accrued to the cooperative?
No. He still needs to refund double the profit
56
Complaints for removal of any elected officer must be filed with?
BOD
57
Majority of the BOD may place the officer concerned and complained to be removed under what ? Prior to the resolution of the investigation
Preventive suspension
58
When may the board present its recommendation for removal of an officer to the general assembly?
After finding of a prima facie evidence of guilt
59
Who will actually remove a guilty officer?
General Assembly by recommendation of BOD
60
How many votes are required of the general assembly to remove an officer?
3/4

BLR 221 (14 decks)

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