Cooperatives

The minimum number of natural persons required to organize a primary cooperative is:

15

What seminar must be completed by a prospective member of a primary cooperative:

Pre-Membership Education Seminar

A single-purpose cooperative may transform into a multi-purpose cooperative and may create subsidiaries only after at least:

2 years of operation

A cooperative duly registered shall have:

Limited liability

A cooperative may register for a term not exceeding how many years?

50

A cooperative may apply for extension of term but such extension cannot be made earlier than __ years prior to the original or subsequent expiry date/dates.

5

The minimum subscription of the authorized capital stock of a cooperative is:

25% of the ACS

The minimum paid-up share capital of a cooperative shall be 25% of the total subscription but not less than:

15,000

CDA shall periodically assess the required paid-up share capital and may increase every __ years.

5

All applications for registration shall be finally disposed of by the CDA within a period of 60 days from the filing thereof, otherwise the application is:

Deemed approved

Should the Office of the President fail to act on the appeal within the required period from the filing thereof, it shall mean:

Approval of the application

A certificate of registration issued by the CDA under its official seal shall be __ evidence that the cooperative therein mentioned is duly registered.

Conclusive

The articles of cooperation and bylaws of the cooperative may be amended by __ vote of all members with voting rights.

2/3

Contracts executed between private persons and cooperatives prior to the registration of the cooperative shall be __ between the parties and upon registration of the cooperative.

Valid

Any registered cooperative may resolve to divide itself into 2 or more cooperatives by a resolution approved by a vote of __ of all the members with voting rights.

3/4

Any registered cooperative may resolve to merge or consolidate with another cooperative by a resolution approved by a vote of __ of all the members with voting rights.

3/4

Any merger or consolidation of cooperatives shall be effective upon:

The issuance of the certificate of merger and consolidation by the CDA

It is a cooperative that promotes and undertakes savings and lending services among its members.

Credit

It is a cooperative the primary purpose of which is to procure and distribute commodities to members and non members.

Consumers

It is a cooperative that undertakes joint production whether agricultural or industrial.

Producers

It is a cooperative which is engaged in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication, professional and other services.

Service

It is a cooperative which combines 2 or more of the business activities of the different types of cooperatives.

Multipurpose

It is a cooperative which promotes and advocates cooperativism.

Advocacy

It is a cooperative which is organized by marginal farmers majority of which are agrarian reform beneficiaries.

Agrarian Reform

It is a cooperative which is organized to own, operate and manage water systems for the provision and distribution of potable water for its members and their households.

Water service

A Housing Cooperative is __ by its members.

Co-owned and controlled

It is a cooperative the members of which are natural persons.

Primary

It represents the interest and welfare of all types of cooperatives at the provincial, city, regional and national levels.

Cooperative union

The kinds of membership in a cooperative are:

Regular and associate

An associate who meets the minimum requirements of regular membership, continues to patronize the cooperative for __ years, and signifies his/her intention to remain a member shall be considered a regular member.

2

A cooperative organized by minors shall be considered a __ cooperative.

Laboratory

What is a delegable power of the GA?

To approve contracts entered into by the cooperative

Only for purposes of prompt and intelligent decision-making, the GA may by a __ vote of all its members with voting rights, delegate some of its powers to a smaller body of the cooperative.

3/4

If not so fixed, the annual regular meeting of the GA must be held within how many days after the close of each fiscal year?

90

Notice in writing calling for a special meeting of the GA must be sent __ prior to the meeting to all members entitled to vote.

One week