Cooperatives
AC 525, 6:30-7:30, MWF
Cooperatives
According to Article 3, Chapter 1 of Republic Act (R.A.) 9520, also known as the Philippine Cooperative Code of 2008 (hereafter referred to as the Code), a cooperative is “an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.” The Cooperative Development Authority (CDA) is the regulating body of the cooperatives.
I.
A. Definition
General Concepts and Principles
COOPERATIVE
A cooperative should not be confused with an association. An association is a group of persons banded together for a specific purpose (en.wikipedia.org). On the other hand, a cooperative is a form of an association which is business-oriented. Associations need not be business-oriented (for they may be formed for purposes other than business, such as civic purposes). Article 4 of the Code provides that every cooperative shall conduct its affairs in accordance with Filipino culture, good values and experience and the universally accepted principles of cooperation which include, but are not limited to, the following: 1. Voluntary and Open Membership - Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, cultural, political or religious discrimination. 2. Democrative Member Control - Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decisions. Men and women serving as elected representatives, directors or officers are accountable to the membership. In primary
Cooperatives
According to Article 3, Chapter 1 of Republic Act (R.A.) 9520, also known as the Philippine Cooperative Code of 2008 (hereafter referred to as the Code), a cooperative is “an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.” The Cooperative Development Authority (CDA) is the regulating body of the cooperatives.
I.
A. Definition
General Concepts and Principles
COOPERATIVE
A cooperative should not be confused with an association. An association is a group of persons banded together for a specific purpose (en.wikipedia.org). On the other hand, a cooperative is a form of an association which is business-oriented. Associations need not be business-oriented (for they may be formed for purposes other than business, such as civic purposes). Article 4 of the Code provides that every cooperative shall conduct its affairs in accordance with Filipino culture, good values and experience and the universally accepted principles of cooperation which include, but are not limited to, the following: 1. Voluntary and Open Membership - Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, cultural, political or religious discrimination. 2. Democrative Member Control - Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decisions. Men and women serving as elected representatives, directors or officers are accountable to the membership. In primary