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Questions and Answers
What is the maximum par value of the share capital of a cooperative registered under this Code?
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?
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?
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?
What is the status of the share capital of the members?
What is the purpose of preferred share capital?
What is the purpose of preferred share capital?
What is the purpose of revolving capital?
What is the purpose of revolving capital?
What is the maximum percentage of the share capital of a cooperative that a member, other than the cooperative itself, can own or hold?
What is the maximum percentage of the share capital of a cooperative that a member, other than the cooperative itself, can own or hold?
What happens if a member of the cooperative dies and their heir's total share holding exceeds 10% of the share capital?
What happens if a member of the cooperative dies and their heir's total share holding exceeds 10% of the share capital?
What is the minimum duration a member must hold their share capital contribution or interest before they can transfer it?
What is the minimum duration a member must hold their share capital contribution or interest before they can transfer it?
To whom can a member transfer their shares or interest in the cooperative?
To whom can a member transfer their shares or interest in the cooperative?
What is the maximum par value of the share capital of a primary cooperative registered under this Code?
What is the maximum par value of the share capital of a primary cooperative registered under this Code?
What is the status of the share capital of the members of a cooperative registered under this Code?
What is the status of the share capital of the members of a cooperative registered under this Code?
