Midterm Flashcards
(19 cards)
highest policy making body of the cooperatives
general assembly
it shall be held annually by the general assembly
regular meeting
types of meeting
regular meeting
special meeting
if the regular meeting is not fixed, on any date within how many days after the close of what year
90 days after the close of fiscal year
it may be called at any time by a majority vote of the BOD
special meeting
how many votes if the bod conducts a special meeting
majority vote
the authority may call this meeting for the purpose of reporting to the members tge result of any examination
special meeting
it shall consist of atleast 25 percent of all members entitled to vote
quorum
what cooperative shall consist of 5 percent of all the members entitled to vote in quorom
electric cooperative
this cooperative shall have only 1 vote
primary cooperative
it shall have 1 basic vote and as many incentives votes but not to exceed 5 votes
sexondary and tertiary
it means allowing a delegate of a cooperative to represent or vote in behalf of another delegate to the same cooperative
voting by proxy
how many members in a cooperative
15
it is responsible for the strategic planning, direction setting and policy formulation activities of the cooperative
Board of directors
in case of this cooperative, regular meetings of the bod shall be held at least once a month
primary cooperatives
it cannot attend or vote by proxy at board meetings
directors
who elects the chairperson and vice-chairperson
bod
cooperatives with accumulated reserves and undivided net savings of not more than ten million pesos shall
shall be exempt from all national, city, provincial, municipal or barangay taxes
cooperatives with accumulated reserves and undivided net savings of more than ten million pesos
shall pay income tax, Value added tax,
