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Cooperative Capital Sources Quiz

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Questions and Answers

What is the maximum par value of the share capital of a cooperative registered under this Code?

$500

$100

$1,000 (correct)

$5,000

Which of the following is NOT a source of capital for cooperatives registered under this Code?

Loans and borrowings including deposits

Member's share capital

Profits from the cooperative's business operations (correct)

Revolving capital

What is the status of capital coming from subsidies, donations, legacies, grants, aids and other assistance?

It is not considered part of the cooperative's capital

It can be used to offset obligations of the members

It forms part of the donated capital or fund of the cooperative (correct)

It can be divided into individual share capital holdings

What is the status of the share capital of the members?

It is considered as equity Signup and view all the answers

What is the purpose of preferred share capital?

To provide a way for the cooperative to raise additional capital Signup and view all the answers

What is the purpose of revolving capital?

To provide a way for the cooperative to retain earnings for future growth Signup and view all the answers

What is the maximum percentage of the share capital of a cooperative that a member, other than the cooperative itself, can own or hold?

10% Signup and view all the answers

What happens if a member of the cooperative dies and their heir's total share holding exceeds 10% of the share capital?

The shares in excess of 10% will revert to the cooperative upon payment to the heir of the value of such shares. Signup and view all the answers

What is the minimum duration a member must hold their share capital contribution or interest before they can transfer it?

1 year Signup and view all the answers

To whom can a member transfer their shares or interest in the cooperative?

To the cooperative, another member, or a person who falls within the field of the membership Signup and view all the answers

What is the maximum par value of the share capital of a primary cooperative registered under this Code?

$1,000 Signup and view all the answers

What is the status of the share capital of the members of a cooperative registered under this Code?

The share capital is owned by the individual members, but can only be withdrawn upon termination of membership. Signup and view all the answers