Lyman Manzanares

Capital Sources in 9520

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Cooperatives registered under [the Cooperative] Code may derive their capital from any or all of the following sources: (1) Member’s share capital; (2) Loans and borrowings including deposits; (3) Revolving capital which consists of the deferred payment of patronage refunds, or interest on share capital; and (4) Subsidies, donations, legacies, grants, aids and such other […]

Step-in rights of NEA in 10531

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“The NEA shall immediately step-in and take over from its Board the operations of any ailing electric cooperative. Within a reasonable period after take-over, the NEA may convert the ailing cooperative to either a stock cooperative registered with the CDA or a stock corporation registered with the Securities and Exchange Commission (SEC). The NEA shall […]

Amendment of Articles of Cooperation and Bylaws in 9520

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Unless otherwise prescribed by this Code and for legitimate purposes, any provision or matter stated in the articles of cooperation and by laws may be amended by two-thirds (2/3) vote of all the members with voting rights, without prejudice to the right of the dissenting members to exercise their right to withdraw their membership under […]

Meeting of the Board and Quorum Requirement in 9520

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In the case of primary cooperatives, regular meetings of the board of directors shall be held at least once a month. Special meetings of the board of directors may be held at any time upon the call of the chairperson or a majority of the members of the board: Provided, That written notices of the […]

Committees of Cooperative in 9520

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The bylaws may create an executive committee to be appointed by the board of directors with such powers and duties as may be delegated to it in the bylaws or by a majority vote of all the members of the board of directors. The bylaws shall provide for the creation of an audit, election, mediation […]

Executive Committees in 9520

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The by-laws may create an executive committee to be appointed by the board of directors with such powers and duties as may be delegated to it in the by-laws or by a majority vote of all the members of the board of directors. Art. 43(1), Chap. IVRep. Act No. 9520February 17, 2009

Functions of federations in 9520

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A federation of cooperatives shall undertake the following functions: (a) To carry on any cooperative enterprise authorized under Article 6 that complements augments, or supplements but does not conflict, complete with, nor supplant the business or economic activities of its members; (b) To carry on, encourage, and assist educational and advisory work relating to its […]

Registration of Tax Exemption in 11364

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The Authority shall furnish the Bureau of Internal Revenue (BIR), LGUs which include provinces, highly-urbanized and independent cities, and other concerned agencies a certified list of duly registered cooperatives for purposes of processing tax exemptions. Any public official or employee who violates or in any manner circumvents this provision shall be dealt with in accordance […]

Restraint of Trade in 9520

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No cooperative or method or act thereof which complies with this Code shall be deemed a conspiracy or combination in restraint of trade or an illegal monopoly, or an attempt to lessen competition or fix prices arbitrarily in violation of any laws of the Philippines.. Art. 8, Chap. IIRep. Act No. 9520February 17, 2009

Settlement of disputes in 11364

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As far as practicable, disputes between and among members, officers, and directors of cooperatives, and between and among cooperatives shall be settled in accordance with Article 137 of Republic Act No. 9520, and Republic Act No. 9285, and Section 4(u) of this Act. Section 16Rep. Act No. 11364August 8, 2019