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Questions and Answers
What is the primary aim of declaring a policy in the Philippine Cooperative Code of 2008?
What is the primary aim of declaring a policy in the Philippine Cooperative Code of 2008?
- To establish a set of rules for cooperative operations
- To define the roles of cooperative officers
- To determine the tax rates for cooperative enterprises
- To promote the interests of cooperative members (correct)
What is the main purpose of a cooperative according to the Philippine Cooperative Code of 2008?
What is the main purpose of a cooperative according to the Philippine Cooperative Code of 2008?
- To contribute to the national economy
- To provide services to its members (correct)
- To promote social welfare in the community
- To generate profits for investors
What is the primary focus of Chapter II of the Philippine Cooperative Code of 2008?
What is the primary focus of Chapter II of the Philippine Cooperative Code of 2008?
- Describing cooperative organizational structures
- Defining cooperative principles and concepts
- Establishing the purposes and objectives of cooperatives (correct)
- Outlining the registration process for cooperatives
What is the significance of Article 7 in the Philippine Cooperative Code of 2008?
What is the significance of Article 7 in the Philippine Cooperative Code of 2008?
What is the relationship between cooperatives and trade, according to Article 8 of the Philippine Cooperative Code of 2008?
What is the relationship between cooperatives and trade, according to Article 8 of the Philippine Cooperative Code of 2008?
What is the title of the law that governs the implementation of the Philippine Cooperative Code of 2008?
What is the title of the law that governs the implementation of the Philippine Cooperative Code of 2008?
What is the primary purpose of Article 54?
What is the primary purpose of Article 54?
What is the main topic of Chapter VI?
What is the main topic of Chapter VI?
What is the main focus of Article 60?
What is the main focus of Article 60?
Which article deals with the instrument for salary or wage deduction?
Which article deals with the instrument for salary or wage deduction?
What is the main topic of Article 62?
What is the main topic of Article 62?
What is the number of the article that discusses dissolution by failure to organize and operate?
What is the number of the article that discusses dissolution by failure to organize and operate?
What chapter discusses capital, property, and funds?
What chapter discusses capital, property, and funds?
What is the main topic of Article 64?
What is the main topic of Article 64?
What is the title of the chapter that comes after Chapter VIII?
What is the title of the chapter that comes after Chapter VIII?
What is the main topic of Article 69?
What is the main topic of Article 69?
What is the main topic of Article 71?
What is the main topic of Article 71?
What is the article number that discusses involuntary dissolution?
What is the article number that discusses involuntary dissolution?
What is the article number that discusses rules and regulations on liquidation?
What is the article number that discusses rules and regulations on liquidation?
What is the maximum number of incentive votes a member of a secondary or tertiary cooperative can have, according to the bylaws?
What is the maximum number of incentive votes a member of a secondary or tertiary cooperative can have, according to the bylaws?
What does the term 'voting by proxy' mean in the context of cooperatives?
What does the term 'voting by proxy' mean in the context of cooperatives?
What is the minimum number of members required to compose the board of directors of a cooperative?
What is the minimum number of members required to compose the board of directors of a cooperative?
What is the highest policy-making body of the cooperative?
What is the highest policy-making body of the cooperative?
What is the minimum vote required for the General Assembly to delegate some of its powers to a smaller body of the cooperative?
What is the minimum vote required for the General Assembly to delegate some of its powers to a smaller body of the cooperative?
What is the term of office of the board of directors of a cooperative?
What is the term of office of the board of directors of a cooperative?
What is the primary responsibility of the board of directors of a cooperative?
What is the primary responsibility of the board of directors of a cooperative?
What is the purpose of the regular meeting held annually by the General Assembly?
What is the purpose of the regular meeting held annually by the General Assembly?
Who are the members of the General Assembly?
Who are the members of the General Assembly?
Who is eligible to be elected as a director of a cooperative?
Who is eligible to be elected as a director of a cooperative?
Under what circumstances can a financing institution appoint a director or committee member to a cooperative?
Under what circumstances can a financing institution appoint a director or committee member to a cooperative?
What is the exclusive power of the General Assembly?
What is the exclusive power of the General Assembly?
What are the powers and responsibilities of a director or committee member appointed by a financing institution?
What are the powers and responsibilities of a director or committee member appointed by a financing institution?
How often should the regular meeting of the General Assembly be held?
How often should the regular meeting of the General Assembly be held?
What is the quorum required for the General Assembly to conduct its business?
What is the quorum required for the General Assembly to conduct its business?
How should the notice of regular meetings be sent to all members of record?
How should the notice of regular meetings be sent to all members of record?
Flashcards
Cooperative Voting Rights
Cooperative Voting Rights
Members have one basic vote, plus incentive votes as per bylaws, up to a maximum of five.
Delegate Voting
Delegate Voting
Votes cast by cooperative delegates are considered as votes cast by the members themselves.
Voting by Proxy
Voting by Proxy
Bylaws can allow a delegate to vote on behalf of another delegate.
Board of Directors Role
Board of Directors Role
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Board Size & Election
Board Size & Election
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Director Eligibility
Director Eligibility
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Appointed Directors/Committee Members
Appointed Directors/Committee Members
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General Assembly Composition
General Assembly Composition
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General Assembly Authority
General Assembly Authority
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General Assembly Powers (Plans)
General Assembly Powers (Plans)
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General Assembly Powers (Directors)
General Assembly Powers (Directors)
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General Assembly Powers (Amendments)
General Assembly Powers (Amendments)
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Regular Meeting Timing
Regular Meeting Timing
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Regular Meeting Notice
Regular Meeting Notice
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Study Notes
Voting Rights and Board of Directors
- Members of secondary or tertiary cooperatives have one basic vote and as many incentive votes as provided for in the bylaws, but not exceeding five votes.
- The votes cast by delegates are deemed as votes cast by the members themselves.
- Bylaws may provide for voting by proxy, allowing a delegate to represent or vote on behalf of another delegate.
Board of Directors
- The board of directors shall be composed of not less than five nor more than fifteen members elected by the general assembly for a term of two years.
- The board of directors shall be responsible for strategic planning, direction-setting, and policy formulation activities of the cooperative.
Directors
- Any member of a cooperative who has the right to vote and possesses all the qualifications and none of the disqualifications provided in the laws or bylaws shall be eligible for election as director.
- The cooperative may admit as directors or committee members one appointed by any financing institution from which the cooperative received financial assistance, solely to provide technical knowledge.
General Assembly
- The general assembly shall be composed of members who are entitled to vote under the articles of cooperation and bylaws of the cooperative.
- The general assembly shall be the highest policy-making body of the cooperative and shall exercise such powers as are stated in this Code, in the articles of cooperation, and in the bylaws of the cooperative.
Powers of the General Assembly
- The general assembly has the exclusive power to:
- Determine and approve amendments to the articles of cooperation and bylaws.
- Elect or appoint the members of the board of directors and remove them for cause.
- Approve developmental plans of the cooperative.
Meetings
- A regular meeting shall be held annually by the general assembly on a date fixed in the bylaws, or if not so fixed, on any date within ninety days after the close of each fiscal year.
- Notice of regular meetings shall be sent in writing, by posting or publication, or through other electronic means to all members of record.
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