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By Laws
CDA by laws for agrarian reform cooperatives
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of
_______________________ Agrarian Reform Cooperative
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned Filipino citizens, of legal age, and residents of the
Philippines, representing at least majority of the members of this Agrarian
Reform Cooperative, do hereby adopt this By-laws.
Article I
Purposes and Goals
The purposes and goals of this Cooperative are those set forth in its Articles of
Cooperation.
Article II
Membership
Section 1. Kinds of Membership. This Cooperative shall have regular and
associate members. (Admission of associate member is optional)
Regular Members are those who have complied with all the membership
requirements and are entitled to all the rights and privileges of membership.
Associate Members are those who have no right to vote nor be voted upon and
are entitled only to limited rights, privileges and membership duration as
provided in the By-laws of the Cooperative, the Philippine Cooperative Code of
2008, and its Implementing Rules and Regulation.
An associate member who meets the minimum requirements of regular
membership and continues to patronize the Cooperative for two (2) years, and
signifies his/her intention to remain a member shall be considered a regular
member.
Section 2.
Qualifications for Membership - The membership of this
Cooperative is open to all natural persons, Filipino citizens, of legal age, with
capacity to contract and, within the common bond and field of membership
described as follows:
1.
2.
Regular Members
a.
_____________________________________________________________
b.
_____________________________________________________________
c.
_____________________________________________________________
Associate Members
a.
_____________________________________________________________
b.
_____________________________________________________________
c.
_____________________________________________________________
Section 3. Requirements for Membership.
A member must have complied with the following requirements:
a. Approved application for membership;
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b. Certificate of completion of the prescribed Pre-Membership Education
Seminar (PMES);
c. Subscribed and paid the required minimum share capital and
membership fee; and
d. ___________________________________________________________
Section 4. Application for Membership. An applicant for membership shall
file a duly accomplished form to the Board of Directors who shall act upon the
application within _________ (_____) days from the date of filing. The Board of
Directors shall devise a form for the purpose which shall, aside from the personal
data of the applicant, include the duties of a member to participate in all
programs including but not limited to capital build-up and savings mobilization
of the Cooperative and, such other information as may be deemed necessary.
The application form for membership shall include an undertaking to uphold the
By-laws, policies, guidelines, rules and regulations promulgated by the Board of
Directors and the general assembly. No application for membership shall be
given due course if not accompanied with a membership fee of _____________ (Php
_____), which shall be refunded to the applicant in case of rejection.
Section 5. Appeal. An applicant whose application was denied by the Board of
Directors may appeal to the General Assembly and the latter’s decision shall be
final. For this purpose, the General Assembly may opt to create an appeal and
Grievance Committee/Membership Committee. The Appeal and Grievance
Committee/ Membership Committee shall decide appeals on membership
application within thirty (30) days upon receipt thereof.
Section 6. Minimum Share Capital Requirement. An applicant for regular
membership shall subscribe at least ______________ (____) shares and pay the
value of at least ________ (___) shares upon approval of his/her membership.
An applicant for associate membership shall subscribe at least ______________
(____) shares and pay the value of at least ________ (___) shares upon approval of
his/her membership.
However, no member shall own or hold more than ten percent (10%) of the
total subscribed share capital of the Cooperative.
Section 7. Duties and Responsibilities of a Member. Every member shall
have the following duties:
a) Pay the installment of his/her share capital subscription as it falls due
and to participate in the capital build-up and savings mobilization
activities of the Cooperative;
b) Patronize the Cooperative’s business(es) and services;
c) Participate in the membership education programs and other activities
and affairs of the Cooperative;
d) Attend and participate in the deliberation of all matters taken during
General Assembly meetings;
e) Observe and obey all lawful orders, decisions, rules and regulations
adopted by the Board of Directors and the General Assembly.
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Section 8. Rights and Privileges of Members. A member shall have the
following rights and privileges:
Regular Members
a. Attend general membership meetings;
b. Avail himself of the services of the Cooperative, subject to certain
conditions as may be prescribed by the Board of Directors;
c. Inspect and examine the books of accounts, the audited financial
statements, the minutes books, the share register, and other records of
the Cooperative during reasonable office hours;
d. Secure copies of Cooperative records/documents pertaining to the account
information of the concerned member;
e. Participate in the continuing education and other training programs of the
Cooperative; and
f. Such other rights and privileges as may be granted by the General
Assembly.
Associate Members
a)
b)
c)
d)
e)
Attend general membership meetings;
Avail themselves of the services of the Cooperative, subject to certain
conditions as may be prescribed by the Board of Directors;
Inspect and examine the books of accounts, the audited financial
statements, the minutes books, the share register, and other records of
the Cooperative during reasonable office hours;
Secure copies of Cooperative records/documents pertaining to the
account information of the concerned member;
Such other rights and privileges as may be granted by the General
Assembly.
Section 9. Members Entitled to Vote. Any regular member who meets the
following conditions is a member entitled to vote:
a.
Paid the membership fee and the value of the minimum shares required
for membership;
b.
Not delinquent in the payment of his/her share capital subscriptions
and other accounts or obligations;
c.
Has completed the continuing education program prescribed by the
Board of Directors;
d.
Has participated in the affairs of the Cooperative and patronized its
businesses in accordance with cooperative’s policies and guidelines; and
e.
_____________________________________________________________________.
Failure of the member to meet any of the above conditions shall mean
suspension of voting until the same have been lifted upon the determination of
the Board of Directors.
Consequently, a member entitled to vote shall have the following additional
rights:
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a.
Participate and vote on all matters deliberated upon during General
Assembly meetings;
b.
Seek any elective or appointive position, subject to the provisions of this
By-laws and the Philippine Cooperative Code of 2008; and
c.
Such other rights and privileges as may be provided by the General
Assembly.
Section 10. Liability of Members. A member shall be liable for the debts of
the Cooperative only to the extent of his/her subscribed share capital.
Section 11. Termination of Membership. Termination of membership may
be automatic, voluntary or involuntary, which shall have the effect of
extinguishing all rights of a member in the Cooperative, subject to refund of
share capital contributions under Section 13 hereof.
a.
Automatic Termination of Membership. The death or insanity of a
member shall be considered an automatic termination of his/her
membership in the Cooperative: Provided, however, that in case of
death or insanity of a member of a Cooperative, the next-of-kin shall
assume the duties and responsibilities of the original member.
Failure of the associate member to meet the minimum requirement of regular
membership, to continue to patronize the products and services of the
Cooperative for two (2) years, and signify his/her intention to become regular
member shall automatically terminate his/her membership.
b.
Voluntary Termination. A member may, for any valid reason,
withdraw his/her membership from the Cooperative by giving a sixty
(60) day notice to the Board of Directors.
c.
Involuntary Termination. A member may be terminated by a vote of
the majority of all the members of the Board of Directors for any of the
following causes:
i.
ii.
iii.
iv.
Has not patronized the service(s)/business(es) of the Cooperative
as provided for in the policies of the cooperative;
Has continuously failed to comply with his/her obligations as
provided for in the policies of the Cooperative;
Has violated any provision of this By-laws and the policies of the
Cooperative; and
For any act or omission injurious or prejudicial to the interest or
the welfare of the Cooperative, as defined by the General
Assembly.
Section 12. Manner of Involuntary Termination. The Board of Directors
shall notify in writing the member who is being considered for termination and
shall give him/her the opportunity to be heard.
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The written decision of the board of directors shall be communicated in
person or by registered mail to said member and is appealable within thirty (30)
days from receipt thereof to the General Assembly or Appeal and Grievance
Committee/Membership Committee, as the case may be, whose decision shall
be final.
Section 13. Refund of Share Capital Contribution. A member whose
membership is terminated shall be entitled to a refund of his/her share capital
contribution and all other interests in the Cooperative. However, such refund
shall not be made if upon payment the value of the assets of the Cooperative
would be less than the aggregate amount of its debts and liabilities exclusive of
his/her share capital contribution. In which case, the member shall continue to
be entitled to the interest of his/her share capital contributions, patronage
refund and the use of the services of the Cooperative until such time that all
his/her interests in the Cooperative shall have been duly paid
Article III
Administration
Section 1. The General Assembly (GA). The General Assembly is composed of
all the members entitled to vote, duly assembled and constituting a quorum and
is the highest policy-making body of the Cooperative.
Section 2. Powers of the General Assembly. Subject to the pertinent
provisions of the Cooperative Code and the rules issued thereunder, the General
Assembly shall have the following exclusive powers which cannot be delegated:
a)
To determine and approve amendments to the Cooperative Articles of
Cooperation and By-laws;
b)
To elect or appoint the members of the Board of Directors, and to
remove them for cause; and
c)
To approve developmental plans of the Cooperative;
Section 3. Meetings. Meetings of the General Assembly, may be regular or
special. All proceedings and business(es) undertaken at any meeting of the
General Assembly, if within the powers or authority of the Cooperative, there
being a quorum, shall be valid.
Regular and associate members are required to attend the meetings for the
purpose of exercising all the rights and performing all the obligations pertaining
to them, as provided by the Code, Articles of Cooperation and By-Laws.
Section 4. Regular General Assembly Meeting. The General Assembly shall
hold its annual regular meeting every ________________ (shall not be beyond
ninety (90) days after the close of its calendar year) at the principal office of the
Cooperative or at any place as may be determined by the Board.
Section 5. Special General Assembly Meeting. The Board of Directors may,
by a majority vote of all its members, call a Special General Assembly meeting at
any time to consider urgent matters requiring immediate membership decision.
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The Board of Directors must likewise call a Special General Assembly meeting
within one (1) month from receipt of a written request from:
a.
b.
c.
d.
at least ten percent (10%) of the total number of members entitled to vote;
the Audit Committee; or
the Federation or Union to which the Cooperative is a member; or
upon Order of the Cooperative Development Authority.
Section 6. Notice of Meeting. All notices of meetings shall be in writing and
shall include the date, time, place, and agenda thereof stated therein.
a. Regular General Assembly Meeting. Notice of the annual Regular
General Assembly meeting shall be served by the Secretary, personally or
his/her duly authorized representative, by registered mail, or by electronic
means to all members of record at his/her last known postal address, or
by posting or publication, or through other electronic means, at least one
(1) week before the said meeting. It shall be accompanied with an agenda,
minutes of meeting of the last General Assembly meeting, consolidated
reports of the Board of Directors and Committees, audited financial
statements, and other papers which may assist the members to
intelligently participate in the proceedings.
b. Special General Assembly Meeting. Notice of any Special General
Assembly meeting shall be served by the Secretary personally or his/her
duly authorized representative, by registered mail, or by electronic means
upon each members who are entitled to vote at his/her last known postal
address, or by posting or publication, or through other electronic means,
at least one (1) week before the said meeting. It shall state the purpose
and, except for related issues, no other business shall be considered
during the meeting.
c. Waiver of Notice. Notice of any meeting may be waived, expressly or
impliedly, by the member concerned.
Section 7. Order of Business. As far as practicable, the order of business of a
Regular General Assembly meeting shall be:
a.
b.
c.
d.
Call to Order;
Proof of due notice;
Roll Call;
Reading, consideration and approval of the minutes of the
previous meeting;
e. Presentation and approval of the reports of the Board of
Directors, officers, and the committees, including Cooperative
Annual Progress Report and all other required reports;
f. Unfinished business;
g. New business;
i.
ii.
iii.
iv.
Election of directors and committee members;
Approval of Development and/or Annual Plan and
Budget;
Hiring of External Auditor; and
Other related business matters
h) Announcements; and
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i) Adjournment
Section 8. Quorum for General Assembly Meeting. During Regular or Special
General Assembly meeting, _________ (at least twenty-five percent) of the total
number of members entitled to vote shall constitute a quorum.
Section 9. Voting System. Only members entitled to vote shall be qualified to
participate and vote in any General Assembly meeting. A member is entitled to
one vote only regardless of the number of shares he/she owns.
Election or removal of Directors and Committee members shall be by secret
ballot. Action on all matters shall be in any manner that will truly and correctly
reflect the will of the membership. No proxy and/or cumulative voting shall be
allowed.
Article IV
Board of Directors
Section 1. Composition of the Board of Directors (BOD). The Board of
Directors shall be composed of _______ (it should be odd number, not less than 5
nor more than 15) members.
Section 2. Functions and Responsibilities. The Board of Directors shall have
the following functions and responsibilities:
a. Provide over-all policy direction;
b. Formulate development plan;
c. Review the annual plan and budget and recommend for the approval of
the General/Representative Assembly;
d. Evaluate the capability and qualification and recommend for the
approval of the General/Representative Assembly the engagements of
the services of an External Auditor;
e. Appoint and terminate, based on just cause, the General Manager or
Chief Executive Officer (CEO);
f. Review, monitor and evaluate the effectiveness of the programs, projects
and activities;
g. Formulate and review the vision, mission and goals of the Cooperative;
h. Establish risk management system;
i. Establish performance evaluation system at all levels;
j. Review and approve the organizational and operational structures;
k. Establish policies and procedures for the effective operation and ensure
proper implementation of such;
l. Appoint the members of the Mediation and Conciliation Committee,
Ethics Committee, Education and Training Committee and other
Officers as specified in the Code and By-laws of the Cooperative;
m. Decide election-related cases involving the Election Committee and its
members;
n. Act on the recommendation of the Ethics Committee on cases involving
violations of the Code of Governance and Ethical Standards;
o. Ensure compliance by the Cooperative with the regulations of the
Authority and other statutory requirements of appropriate government
agencies;
p. Report to the General/Representative Assembly the performance and
achievements of the Cooperative;
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q. Present to the General/Representative Assembly policies which require
confirmation as provided under the law, the Cooperative By-laws, and
regulations;
r. Present to the General/Representative Assembly the financial, social
and performance reports; and
s. Perform such other functions as may be authorized by the
General/Representative Assembly.
Section 3. Qualifications. Any member who is entitled to vote and has the
following qualifications can be elected or continue as member of the Board of
Directors:
a.
b.
c.
d.
e.
Has paid the minimum capital requirement;
Has no delinquent account with the Cooperative;
Has continuously patronized the Cooperative services;
A member in good standing for the last two (2) years;
Completed or willingness to complete within the prescribed period the
required education and training whichever is applicable; and
f. (Other qualifications)
Section 4. Disqualifications. Any member who is under any of the following
circumstances shall be disqualified to be elected as a member of the Board of
Directors, or to continue as such:
a. Holding any elective position in the government, except that of a party list
representative being an officer of a Cooperative he/she represents;
b. Members holding any other position directly involved in the day-to-day
operation and management of the Cooperative;
c. Having direct or indirect personal interest with the business of the
Cooperative;
d. Having been absent for_________ consecutive meetings or in more
than________ percent (_____) of all meetings within the twelve (12) month
period unless with valid excuse as approved by the Board of Directors;
e. Being an official or employee of the Cooperative Development Authority,
except in a Cooperative organized among themselves;
f. Having been convicted by final judgement in administrative proceedings
or civil/criminal suits involving financial and/or property accountability;
and
g. Having been disqualified by law.
Section 5. Procedure for Disqualifications.
The procedure for disqualification shall be provided in the election guidelines or
policy of the Cooperative.
Section 6. Election of Directors. The members of the Board of Directors shall
be elected by secret ballot by members entitled to vote during the a nnual Regular
General Assembly meeting or Special General Assembly meeting called for the
purpose. Unless earlier removed for cause, or have resigned or become
incapacitated, they shall hold office for a term of _______ ( ) years or until their
successors shall have been elected and qualified; Provided, that majority of the
elected directors obtaining the highest number of votes during the first election
after registration shall serve for two (2) years, and the remaining directors for
one (1) year. Thereafter, all directors shall serve for a term of two (2) years. The
term of the cooperators-directors shall expire upon the election of their
successors in the first Regular General Assembly after registration.
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Section 7. Election of Officers within the Board. The Board of Directors
shall convene within ten (10) days after the General Assembly meeting to elect
by secret ballot from among themselves the Chairperson and the ViceChairperson, and to elect or appoint the Secretary and Treasurer from outside
of the Board.
For committees elected by the General Assembly and/or appointed by the Board
of Directors, procedural process of electing the Chairperson, Vice-Chairperson
or other positions among themselves should be in accordance with the process
mentioned above.
Section 8. Meeting of the Board of Directors. The regular meeting of the Board
of Directors shall be held at least once a month. However, the Chairperson or
majority of the directors may at any time call a Special Board meeting to consider
urgent matters. The call shall be addressed and delivered through the Secretary
stating the date, time and place of such meeting and the matters to be
considered. Notice of special meetings of the Board of Directors, shall be served
by the Secretary in writing or through electronic means to each director at least
one (1) week before such meeting.
Majority of the total number of Directors constitutes a quorum to transact
business. Any decision or action taken by the majority members of the Board of
Directors in a meeting duly assembled shall be a valid cooperative act.
Section 9. Vacancies. Any vacancy occurring in the Board of Directors by
reason of death, incapacity, removal or resignation may be filled-up within thirty
(30) days by a majority vote of the remaining directors, if still constituting a
quorum; otherwise, such vacancy shall be filled by the General Assembly in a
regular or special meeting called for the purpose. The elected director shall serve
only for the unexpired term of his/her predecessor in office.
In the event that the General Assembly failed to muster a quorum to fill
the positions vacated by directors whose term have expired and said directors
refuse to continue their functions on a hold-over capacity, the remaining
members of the Board together with the members of the Audit Committee shall
designate, from the qualified regular members of the General Assembly, their
replacements who shall serve temporarily as such until their successors shall
have been elected and qualified in a Regular or Special General Assembly
meeting called for the purpose.
If a vacancy occurs in any elective committee it shall be filled by the
remaining members of the said committee, if still constituting a quorum,
otherwise, the Board, in its discretion, may appoint or hold a special election to
fill such vacancy.
Section 10. Removal of Members of the Board of Directors and Committee
Members. All complaints for the removal of any elected officer shall be filed with
the Board of Directors and such officer shall be given the opportunity to be heard.
Majority of the Board of Directors may place the officer concerned under
preventive suspension pending the resolution of the investigation. Upon finding
of a prima facie evidence of guilt, the Board of Directors shall present its
recommendation for removal to the General Assembly. For this purpose, the
Board of Directors shall provide a policy on suspension in consultation with the
Ethics Committee subject to the approval of the General Assembly.
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An elective officer may be removed by three-fourths (¾) of the regular
members present and constituting a quorum, in a Regular or Special General
Assembly meeting called for the purpose. The officer concerned shall be given
the opportunity to be heard at said assembly. The decision of the General
Assembly on the matter is final and executory.
In cases where the officers sought to be removed consist of the majority of
the Board of Directors, at least 10% of the members with voting rights may file
a petition with the Cooperative Development Authority to call a Special General
Assembly meeting for the purpose of removing the Board of Director/s upon
failure of the Board of Directors to call an assembly meeting to commence the
proceeding for their removal.
An officer appointed by the Board of Directors may be removed from office
for cause by a majority vote of all the members of the Board of Directors.
Section 11. Prohibitions. Any member of the Board of Directors shall not hold
any other position directly involved in the day-to-day operation and management
of the Cooperative nor engage in any business similar to that of the Cooperative
or who in any way has a conflict of interest with it.
The extent of conflict of interest shall be clearly defined in the policy of the
Cooperative.
Article V
Committees
Section 1. Audit Committee. An Audit Committee shall be composed of three
(3) members to be elected during a General Assembly meeting and shall hold
office for a term of one (1) year or until their successors shall have been elected
and qualified. Within ten (10) days after their election, they shall elect from
among themselves a Chairperson, Vice-Chairperson and a Secretary. No
member of the committee shall hold any other position within the Cooperative
during his/her term of office. The Committee shall provide internal audit service,
maintain a complete record of its examination and inventory, and submit an
audit report quarterly or as may be required by the Board and the General
Assembly.
The Audit Committee shall be directly accountable and responsible to the
General Assembly.
Section 2. Functions and Responsibilities. The Audit Committee shall:
a. Audit the performance of the cooperative and its various responsibility
centers;
b. Monitor the adequacy and effectiveness
management and internal control system;
of
the
Cooperative's
c. Review continuously and periodically the books of account, financial
records, and policies governing internal control, accounting and risk
management to ensure that these are in accordance with the
Cooperative principles and generally accepted accounting procedures;
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d. Review the internal audit report of the Cooperative;
e. Follow up actions on the internal and external audit recommendations;
f. Discuss the result of the internal audit with the Board of Directors;
g. Submit reports on the result of the internal audit and recommend
necessary changes on policies and other related matters on operation to
the General/Representative Assembly;
h. Review, approve or amend the report and recommendation of the Ethics
Committee involving violations of the Code of Governance and Ethical
Standards if the remaining members of the Board of Directors fail to act
on said report and recommendation within a period of thirty (30) days,
or the violation is committed by the majority of the Board of Directors;
and
i. Perform such other functions as may be prescribed in the By-laws or
authorized by the General/Representative Assembly.
Section 3. Election Committee. An Election Committee shall be composed of
three (3) members to be elected during a General Assembly meeting and shall
hold office for a term of one (1) year or until their successors shall have been
elected and qualified. Within ten (10) days after their election they shall elect
from among themselves a Chairperson, Vice-Chairperson and a Secretary. No
member of the committee shall hold any other position within the Cooperative
during his/her term of office.
Section 4. Functions and Responsibilities. The Election Committee shall:
a. Formulate election rules and guidelines and recommend to the
General/Representative Assembly for approval;
b. Recommend necessary amendments to the election rules and
guidelines, in coordination with the Board of Directors, for the
General/Representatives Assembly's approval;
c. Implement election rules and guidelines duly approved by the
General/Representative Assembly;
d. Supervise the conduct, manner and proceedings of election and
other election- related activities and act on the changes thereto;
e. Canvass and certify the results of the election;
f. Proclaim the winning candidates;
g. Decide election and other election-related cases except those
involving the Election Committee or its members; and
h. Perform such other functions as prescribed in the By-laws or
authorized by the General/Representative Assembly.
Section 5. Education and Training Committee. An Education and Training
Committee shall be composed of three (3) members to be appointed by the Board
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of Directors and shall serve for a term of one (1) year, without prejudice to their
reappointment. Within ten (10) days after their appointment, they shall elect
from among themselves a Vice-Chairperson and a Secretary. The ViceChairperson of the Board of Directors shall act as the Chairperson of the
Committee.
The committee shall be responsible for the planning and implementation
of the information, educational and human resource development programs of
the Cooperative for its members, officers and the communities within its area of
operation.
Section 6. Functions and Responsibilities. The Education and Training
Committee shall:
a. Keep members, officers, staff well-informed regarding Cooperative’s
goals/objectives, policies & procedures, services, etc.;
b. Plan and implement educational program for coop members, officers and
staff;
c. Develop promotional and training materials for the Cooperative; and
d. Conduct/Coordinate training activities.
Section 7. Mediation and Conciliation Committee.
A Mediation and
Conciliation Committee shall be composed of three (3) members to be appointed
by the Board of Directors. Within ten (10) days after their appointment, they
shall elect from among themselves a Chairperson, Vice-Chairperson and a
Secretary who shall serve for a term of one (1) year or until their successors shall
have been appointed and qualified and without prejudice to their reappointment.
No member of the Committee shall hold any other position in the Cooperative
during his/her term of office.
Section 8. Functions and Responsibilities. The Mediation and Conciliation
Committee:
a. Conduct mediation-conciliation proceedings and services;
b. Formulate, develop and improve the Conciliation-Mediation policies,
guidelines and program and ensure its proper implementation;
c. Monitor Conciliation-Mediation program and processes;
d. Submit semi-annual reports of cooperative cases to the Authority within
fifteen (15) days after the end of every semester;
e. Accept and file Evaluation Reports;
f. Submit recommendations for improvement to the Board of Directors;
g. Recommend to the Board of Directors any member of the cooperative for
Conciliation-Mediation Trainings as Cooperative Conciliator-Mediator;
h. Issue the Certificate of Non-Settlement ( CNS);
i. Act as conciliator-mediator during their term, provided the persons who
will mediate are mutually selected by both parties; and
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j. Perform such other functions as may be prescribed in the By-laws or
authorized by the Board of Directors.
Section 9. Ethics Committee. An Ethics Committee shall be composed of three
(3) members to be appointed by the Board of Directors. Within ten (10) days
after their appointment, they shall elect from among themselves a Chairperson,
Vice-Chairperson and a Secretary who shall serve for a term of one (1) year or
until their successors shall have been appointed and qualified and without
prejudice to their reappointment. No member of the Committee shall hold any
other position in the Cooperative during his/her term of office.
Section 10. Functions and Responsibilities. The Ethics Committee shall:
a. Formulate, develop, implement and monitor the Code of Governance and
Ethical Standards (CGES) to be observed by the members, officers and
employees of the cooperative subject to the approval of the Board of
Directors and ratification by the General/Representative Assembly;
b. Conduct initial investigation or inquiry, upon receipt of a complaint
involving violations of the Code of Governance and Ethical Standards;
c. Submit report on its recommendation together with the appropriate
sanctions, to the Board of Directors for its proper action, or to the
remaining members of the Board of Directors, if the violation is
committed by any members of the Board of Directors. Provided, that if
the remaining members of the Board of Directors fail to act on the report
within a period of thirty (30) days, or the violation is committed by the
majority of the Board of Directors, the Audit committee shall act on the
same; and
d. Perform such other functions as may be prescribed in the By-laws or
authorized by the Board of Directors.
Section 11. Credit Committee. A Credit Committee shall be composed of three
(3) members to be appointed by the Board of Directors. Within ten (10) days
after their appointment, they shall elect from among themselves a Chairperson,
Vice-Chairperson and a Secretary who shall serve for a term of one (1) year or
until their successors shall have been appointed and qualified and without
prejudice to their reappointment. No member of the Committee shall hold any
other position in the Cooperative during his/her term of office.
Section 12. Functions and Responsibilities. The Credit Committee shall:
a. Assist the Board of Directors in the formulation of sound lending and
collection policies, systems and procedure.
b. Responsible for the credit management of the Cooperative.
c. In the performance of its functions, it shall process, evaluate and act
upon loan application and withdrawal of deposits, except when the
applicant is a member of the committee, in which case, the application
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shall be acted upon by the Board of Directors; and exercise general
supervision including collection over all loans to members.
d. Responsible for the formulation and conduct of financial and credit risk
management training program.
Section 13. Gender and Development (GAD) Committee. – A Gender and
Development (GAD) Committee shall be composed of three ( 3) members to be
appointed by the Board of Directors provided that at least one member shall
come from the Board. The Committee shall elect from among themselves a
Chairperson. The Committee members shall hold office until replaced by the
Board.
Section 14. Functions and Responsibilities. The Gender and Development
(GAD) Committee shall:
a. Conduct gender analysis;
b. Develop and recommend Gender and Development ( GAD )and Gender
Equality (GE )policies and programs/activities/projects to the Board;
c. Monitor and assess progress in the implementation of Gender and
Development (GAD) programs/activities/projects towards achieving
Gender Equality (GE );
d. Submit report to the Board; and
e. Provide directional guidance.
Section 15. GAD Focal Person. A GAD Focal Person (GFP) shall be designated
by the Board upon recommendation of the management. He or she must be an
employee of the cooperative and shall perform GFP roles as additional function.
Section 16. Functions and Responsibilities of GAD Focal Person (GFP).
a. Coordinates
and
reviews
implementation
of
GAD
programs/activities/projects based on approved plans and budget;
b. Prepares performance reports and recommends policy improvements to
the GAD Committee;
c. Gathers and analyzes gender-related information and other data; and
d. Provides administrative services to the GAD Committee.
Section 17. GAD Education and Training Program. The Cooperative shall
identify GAD and GE-related education and training programs. These shall be
included in the annual education and training plan.
Section 18. GAD Support Systems and Services. The Cooperative shall
implement other services that address GAD and GE issues and concerns. It
shall also develop and establish necessary support systems that will enhance
implementation of the GAD and GE services of the Cooperative.
Section 19. Other Committees. The Board of Directors may create such other
committees as may be deemed necessary for the operation of the Cooperative.
Section 20. Qualification and Disqualification of Committee Members. The
qualification and disqualification of the Board of Directors shall also apply to all
the members of the committees.
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Article VI
Officers and Management Staff of the Cooperative
Section 1. Officers and their Duties. The officers of the cooperative shall
include the Members of the Board of Directors, Members of the Different
Committees, General Manager/Chief Executive Officer, Secretary and Treasurer
who shall serve according to the functions and responsibilities of their respective
offices as follows:
a.
Chairperson – The Chairperson shall:
i.
Set and prepare the agenda for board meetings in coordination with
the other members of the Board of Directors;
ii.
Preside all meetings of the
General/Representative Assembly;
iii.
iv.
Board
of
Directors
and
Sign contracts, agreements, certificates and other documents on
behalf of the cooperative as authorized by the Board of Directors or
by the General/Representative Assembly as prescribed in their Bylaws; and
Perform such other functions as may be authorized by the Board
of Directors.
b. Vice-Chairperson – the Vice-Chairperson shall:
i.
Perform all duties and functions of the Chairperson in the absence
of the latter; and
ii.
Perform such other duties as may be delegated to him/her by the
Board of Directors.
c. Treasurer– The Treasurer shall:
i.
Ensure that all cash collections are deposited in accordance with
the policies set by the Board of Directors;
ii.
Have custody of funds, securities, and documentations relating to
assets, liabilities, income and expenditures;
iii.
Monitor and review the financial management operations of the
cooperative, subject to such limitations and control as may be
prescribed by the Board of Directors;
iv.
Ensure the maintenance of full and complete records of cash
transactions;
v.
Ensure maintenance of a Petty Cash Fund;
vi.
Maintain a Daily Cash Position Report; and
vii.
Perform such other functions as may be prescribed in the By-laws
or authorized by the Board of Directors.
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d. Secretary– The Secretary shall:
i. Keep an updated and complete registry of all members;
ii.
Record, prepare and maintain records of all minutes of meetings of
the Board of Directors and the General/Representative Assembly;
iii.
Ensure that the necessary actions and decisions of the Board of
Directors are transmitted to the management for compliance and
implementation;
iv.
Issue and certify the list of members who are entitled to vote as
determined by the Board of Directors;
v.
Prepare and issue Share Certificates and maintain the share and
transfer book;
vi.
Serve notice of all meetings called and certify the presence of quorum
in the conduct of all meetings of the Board of Directors and the
General/Representative Assembly;
vii.
Keep copies of the Treasurer's reports and other reports;
viii.
Serve as custodian of the cooperative seal; and
ix.
Perform such other functions as may be prescribed in the By-laws
or authorized by the Board of Directors.
e. General Manager. The General Manager shall:
i.
Oversee the overall day to day business operations of the cooperative
by providing direction, supervision, management and administrative
control over all the operating departments subject to such
limitations as may be set forth by the Board of Directors or the
General/Representative Assembly;
ii.
Assist the Board of Directors in the formulation of the Cooperative's
Development Plan including Annual Plan and Budget, Programs and
Projects, for approval of the General/Representative Assembly;
iii.
Provide systems and procedures in the implementation of policies;
iv.
Implement the duly approved plans and programs of the cooperative
and any other directive or instruction of the Board of Directors;
v.
Provide and submit to the Board of Directors monthly reports on the
status of the cooperative's operation vis-a-vis its targets and
recommend appropriate policy or operational changes, if necessary;
vi.
Represent the cooperative in any agreement, contract, business
dealing, and in any other official business transaction as may be
authorized by the Board of Directors;
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vii.
Ensure compliance with all administrative and other requirements
of regulatory bodies; and
viii.
Perform such other functions as may be prescribed in the By-laws
delegated by the Board of Directors or authorized by the
General/Representative Assembly.
Section 2. Liabilities of Directors, Officers and Committee Members.
Directors, officers and committee members, who willfully and knowingly vote for
or assent to patently unlawful acts, or who are guilty of gross negligence or bad
faith in directing the affairs of the Cooperative or acquire any personal or
pecuniary interest in conflict with their duties as Directors, officers or committee
members shall be liable jointly and severally for all damages resulting therefrom
to the Cooperative, members and other persons.
When a director, officer or committee member attempts to acquire, or acquires
in violation of his/her duties, any interest or equity adverse to the Cooperative
in respect to any matter which has been reposed in him/her in confidence,
he/she shall, as a trustee for the Cooperative, be liable for damages or loss of
profits which otherwise would have accrued to the Cooperative.
Section 3. Management Staff. The core management team of the cooperative
composed of manager, cashier, bookkeeper, accountant, and other position as
provided for in the Human Resource Manual shall take charge of the day-to-day
operations of the cooperative. The Board of Directors shall appoint, fix their
compensation and prescribe for the functions and responsibilities.
Section 4. Qualifications of the General Manager. No person shall be
appointed to the position of general manager unless he/she possesses the
following qualifications and none of the disqualifications herein enumerated:
a. Must be familiar with the business operation of the Cooperative;
b. Must have at least two (2) years experience in the operations of
Cooperative or related business;
c. Must not be engaged directly or indirectly in any activity similar to the
business of the Cooperative;
d. Must not have been convicted of any administrative, civil or criminal
cases involving moral turpitude, gross negligence or grave misconduct
in the performance of his/her duties;
e. Must be of good moral character;
f. Must not have been convicted of any administrative, civil or criminal
case involving financial and/or property accountabilities at the time of
his/her appointment; and
g. Must undergo pre-service and/or in-service trainings.
Section 5. Duties of Cashier. The Cashier of the Cooperative, who shall be
under supervision and control of the General Manager shall:
a.
b.
c.
d.
e.
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Handles monetary transactions;
Receives/collects payments and deposits;
Be responsible for money received and expended;
Prepares reports on money matters; and
Perform such other duties as the Board of Directors may require.
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Section 6. Duties of the Accountant. The Accountant of the Cooperative, who
shall be under supervision and control of the General Manager shall:
a. Install an adequate and effective accounting system within the
Cooperative;
b. Render reports on the financial condition and operations of the
Cooperative monthly, annually or as may be required by the Board of
Directors and/or the General Assembly;
c. Provide assistance to the Board of Directors in the preparation of
annual budget;
d. Keep, maintain and preserve all books of accounts, documents,
vouchers, contracts and other records concerning the business of the
Cooperative and make them available for auditing purposes to the
Chairperson of the Audit Committee; and
e. Perform such other duties as the Board of Directors may require.
Section 7. Duties of the Bookkeeper. The bookkeeper of the Cooperative who
is under supervision and control of the Accountant shall:
a. Record and update books of accounts;
b. Provide assistance in the preparation of reports on the financial
condition and operations of the Cooperative monthly, annually or as
may be required by the Board of Directors and/or the General
Assembly;
c. Keep, maintain and preserve all books of accounts, documents,
vouchers, contracts and other records concerning the business of the
Cooperative and make them available for auditing purposes to the
Chairperson of the Audit Committee; and
d. Perform such other duties as the Board of Directors may require.
Section 8. Qualifications of Accountant, Cashier, and Bookkeeper. No
person shall be appointed to the position of accountant and bookkeeper unless
they possess the following qualifications and none of the disqualifications herein
enumerated:
a. Bachelors degree in accountancy must be required for Accountant,
however, Cashier and Bookkeeper must be knowledgeable in handling
monetary transactions, accounting and/or bookkeeping, respectively;
b. Must have at least two (2) years experience in Cooperative or related
business;
c. Must not be engaged directly or indirectly in any activity similar to the
business of the Cooperative;
d. Must not be convicted of any administrative, civil or criminal case
involving moral turpitude, gross negligence or grave misconduct in the
performance of his/her duties;
e. Must be of good moral character;
f. Must be willing to undergo pre-service and/or in-service trainings in
accounting; and
g. Must not have been convicted of any administrative, civil or
criminal
case involving financial and/or property accountabilities at the time of
his/her appointment.
Section 9. Compensation. Subject to the approval of the General Assembly,
the members of the Board of Directors and Committees may, in addition to per
diems for actual attendance to board and committee meetings, and
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reimbursement of actual and necessary expenses while performing functions in
behalf of the Cooperative, be given regular compensation; Provided, further, that
the directors and officers shall not be entitled to any per diem when, if in the
preceding calendar year, the Cooperative reported a net loss or had a dividend
rate less than the official inflation rate for the same year.
Article VII
Capital Structure
Section 1. Source of Funds. The Cooperative may derive its funds from any or
all of the following sources:
a. Member’s share capital contribution;
b. Loans and borrowings including deposits;
c. Revolving capital build-up which consist of the deferred payment of
patronage refund or interest on share capital;
d. Subsidies, grants, legacies, aids, donation, awards and winnings and
such other assistance from any local or foreign institution, public or
private;
b. Retentions from the proceeds of services acquired /goods procured by
members; and
c. Other sources of funds as may be authorized by law.
Section 2. Continuous Capital Build-Up. Every member shall have invested
in any or all of the following:
a. At least _____________Pesos (P_________)per month;
b. At least _____ percent (__%) of his/her annual interest on capital and
patronage refund; and
c. At least _________ percent (__%) of each good procured /service
acquired from the cooperative.
Section 3. Borrowing. The Board of Directors, upon approval of the General
Assembly, may borrow funds from any source, local or foreign, under such terms
and conditions that best serve the interest of the Cooperative.
Section 4. Revolving Capital. To strengthen the capital structure of the
Cooperative, the General Assembly may authorize the Board of Directors to raise
a revolving capital by deferring the payment of patronage refunds and interest
on share capital, or such other schemes as may be legally adopted. To implement
this provision, the Board of Directors shall issue a Revolving Capital Certificate
with serial number, name, rate of interest, date of retirement and such other
privileges or restrictions as may be deemed just and equitable.
Section 5. Share Capital Contribution. Share Capital Contribution refers to
the value of the paid subscription by a member in accordance with its Articles of
Cooperation.
Section 6. Share Capital Certificate. The Board of Directors shall issue a
Share Capital Certificate only to a member who has fully paid his/her
subscription. The Certificate shall be serially numbered and contain the
shareholder’s name, the number of shares owned, the par value, and duly signed
by the Chairperson and the Secretary, and bearing the official seal of the
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cooperative. All certificates issued and/or transferred shall be registered in the
cooperative’s Share and Transfer Book.
The number of paid share required for the issuance of Share Capital
Certificate shall be determined by the Board of Directors.
The shares may be purchased, owned or held only by persons who are
eligible for membership. Subject to existing government rules or laws, interests
shall be paid only to paid-up shares which may be in cash; or credited as
payment of unpaid subscriptions, outstanding accounts, or additional shares or
to the revolving fund of the cooperative.
Section 7. Assignment of Share Capital Contribution or Interest. Subject to
the provisions of the Code, no member shall transfer his/her shares or interest
in the cooperative or any part thereof unless:
1. He/she has held such share capital contribution or interest for not less
than one (1) year;
2. The assignment is made to the cooperative or to a person who falls within
the field of membership of the Cooperative; and
3. The Board of Directors has approved such assignment.
The assignment of shares shall not be binding to the Cooperative until such
transfer has been registered in the share and transfer book. No transfer shall
be completed until the old certificate has been endorsed and surrendered to the
Cooperative and a new certificate is issued in the name of the membertransferee. The corresponding transfer fee shall be collected from the transferee
as prescribed in the Cooperative policy.
In case of lost or destroyed share certificate, the Board of Directors may
issue a replacement after the owner thereof executes a sworn affidavit, setting
forth the following:
a. Circumstances as to how, when and where said certificate was lost or
destroyed;
b. The serial number of the certificate; and the number of shares it
represents;
c. The lost or destroyed certificate has never been transferred, sold or
endorsed to any third party, provided, that should the same be found,
the owner shall surrender it to the Cooperative; and
d. That any false representation or statement made in the aforesaid
affidavit shall be a ground for expulsion from the Cooperative.
Article VIII
Allocation and Distribution of Net Surplus
Section 1. Allocation - At the end of its calendar year, the Cooperative shall
allocate and distribute its net surplus as follows:
a. Reserve Fund. _______percent (____%)shall be set aside for Reserve Fund.
Provided, that in the first five (5) years of operation after registration, this
amount shall not be less than fifty per centum (50%) of the net surplus.
The reserve fund shall be subjected to the following rules:
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i.
ii.
iii.
The reserve fund shall be used for the stability of the Cooperative
and to meet net losses in its operations. The General Assembly
may decrease the amount allocated to the reserve fund when it
has already exceeded the authorized share capital. Any sum
recovered on items previously charged to the reserve fund shall
be credited to such fund.
The reserve fund shall not be utilized for investment, other than
those allowed in the Cooperative Code. Such sum of the reserve
fund in excess of the authorized share capital may be used at
any time for any project that would expand the operations of the
Cooperative upon the resolution of the General Assembly.
Upon the dissolution of the Cooperative, the reserve fund shall
not be distributed among the members. However, the General
Assembly may resolve:
A. To establish a usufructuary trust fund for the benefit of any
federation or union to which the Cooperative is affiliated; or
B. To donate, contribute or otherwise dispose of the amount for
the benefit of the community where the Cooperative
operates. If the member could not decide on the disposition
of the reserve fund, the same shall be given to the federation
or union to which the Cooperative is affiliated.
b. Education and Training Fund. ________ percent (____%)shall be set aside
for Education and Training Fund.
i. Half of the amount allocated to the education and training fund
annually under this subsection may be spent by the cooperative for
education and training purposes; while the other half may be
remitted to a union or federation chosen by the Cooperative or of
which it is a member.
ii. Upon the dissolution of the cooperative, the unexpended balance of
the education and training fund pertaining to the Cooperative shall
be credited to the Cooperative education and training fund of the
chosen union or federation.
c. Community Development Fund. ________percent (____%)shall be used for
projects and activities that will benefit the community where the Cooperative
operates.
d. Optional Fund, Land and Building and any other necessary fund.
________percent (____%)shall be set aside for this purpose.
Section 2. Interest on Share Capital and Patronage Refund. The remaining
net surplus shall be made available to the members in the form of interest on
share capital not to exceed the normal rate of return on investment and
patronage refunds. Provided, that any amount remaining after the allowable
interest and the patronage refund have been deducted shall be credited to the
reserved fund. The sum allocated for patronage refund shall be made available
at the same rate to all patrons of the Cooperative in proportion to their individual
patronage, provided that:
a. In the case of a member patron with paid-up share capital contribution,
his/her proportionate amount of patronage refund shall be paid to
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him/her unless he/she agrees to credit the amount to his/her account as
additional share capital contribution;
b. In the case of member patron with unpaid share capital contribution,
his/her proportionate amount of patronage refund shall be credited to
his/her account until the share capital contribution has been fully paid;
c. In the case of non-member patron, his/her proportionate amount of
patronage refunds shall be set aside in a general fund for such patron and
shall be allocated to individual non-member patron and only upon request
and presentation of evidence of the amount of his/her patronage. The
amount so allocated shall be credited to such patron toward payment of
the minimum capital contribution for membership. When a sum equal to
this amount has accumulated at any time within _____ ( ) years, such
patron shall be deemed and become a member of the Cooperative if he/she
so agrees or requests and complies with the provisions of the bylaws for
admission to membership; and
d. If within the period specified hereof, any subscriber who has not fully paid
his/her subscribed share capital or any non-member patron who has
accumulated, the sum necessary for membership, but who does not
request nor agree to become a member or fails to comply with the
provisions of this bylaws for admission to membership, the amount so
accumulated or credited to their account together with any part of the
general fund for non-member patron shall be credited to the Reserve Fund
or to the Education And Training Fund of the Cooperative, at the option of
the Cooperative.
Article IX
Settlement of Disputes
Section 1. Mediation and Conciliation. All inter and intra-cooperative
disputes shall be settled within the cooperative in accordance with the pertinent
Guidelines issued by the Cooperative Development Authority, Art. 137 0f
Republic Act No. 9520 and its Implementing Rules and Regulations, Alternative
Dispute Resolution Act of 2004 and its suppletory laws.
Section 2. Voluntary Arbitration. Any dispute, controversy or claim arising
out of or relating to this By-laws, the cooperative law and related rules,
administrative guidelines of the Cooperative Development Authority, including
disputes involving members, officers, directors, and committee members, intracooperative disputes and related issues shall be exclusively referred to and finally
resolved by voluntary arbitration under the institutional rules promulgated by
the Cooperative Development Authority, after compliance with the conciliation
or mediation mechanisms embodied in the bylaws of the Cooperative, and in
such other applicable laws.
Article X
Miscellaneous
Section 1. Investment of Capital.
any or all of the following:
The Cooperative may invest its capital in
a. Shares or debentures or securities of any secondary cooperative;
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b. Any reputable bank including Cooperative Banks or any secondary
cooperative;
c. Securities issued or guaranteed by Government;
d. Real Estate primarily for the use of the Cooperative or its members; or
e. In any other manner approved by the General Assembly.
Section 2. Accounting System. The Cooperative shall keep, maintain and
preserve all its books of accounts and other financial records in accordance with
the Standards Charts of Accounts (SCA) for Cooperatives and the Philippine
Financial Reporting Framework (PFRF) for Cooperatives.
Section 3. Financial Audit, Performance Audit, and Social Audit. At least
once a year, the Board of Directors shall, in consultation with the Audit
Committee, cause the audit of the books of accounts of the Cooperative,
performance audit and social audit in accordance with the Guidelines issued by
the Cooperative Development Authority.
Section 4. Annual Report. During the annual Regular Assembly meeting, the
Officers shall submit a report of the operation to the General Assembly together
with the audited financial statements, performance audit, social audit reports
and list of officers and trainings undertaken/completed. The annual report shall
be certified by the Chairperson and Manager of the Cooperative as true and
correct in all aspects to the best of their knowledge.
The Cooperative shall submit the web-based Cooperative Annual Progress Report
(CAPR) together with the following attachments to the Authority within (120)
days from the end of every calendar year;
a. Social Audit Report;
b. Performance Report including semi-annual Mediation and Conciliation
Report;
c. Audited Financial Statement; and
d. List of officers and trainings undertaken/completed.
Article XI
Amendments
Section 1. Amendment of Articles of Cooperation and By-laws. Amendments
to the Articles of Cooperation and this By-Laws may be adopted by at least twothirds (2/3) votes of all members with_________(voting rights/members entitled
to vote), present and constituting a quorum.
The amendment/s shall take effect upon approval by the Cooperative
Development Authority.
Voted and adopted this _____ day of _______, 20___ in ____________, Philippines.
Names
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We, constituting the majority of the Board of Directors of the
______________________________________________________ do hereby certify that
the foregoing instrument is the Code of By-laws of this Cooperative.
Signed this of ____________, 20___, in ______________.
____________
Chairperson
___________
Director
______________
Vice Chairperson
___________
Director
___________
Director
___________
Director
___________
Director
___________
Director
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___________
Director
___________
Director
___________
Director
___________
Director
___________
Director
___________
Director
___________
Director
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