Lyman Manzanares

Vertical to Lateral to Vertical Cooperation

Published: (Updated: ) in Co-operatives by . 1 Comment on Vertical to Lateral to Vertical Cooperation.

Co-ops of the near future could find themselves asking less what they can do for their members and more what their members—and potential members—can do for each other. This might include co-ops facilitating peer-to-peer lending and mutual credit systems among their members, for instance, or online forums and marketplaces that help members build ties and […]

Capital Sources in 9520

Published: (Updated: ) in Co-operatives by . Leave a Comment on Capital Sources in 9520.

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

Published: (Updated: ) in Co-operatives by . Leave a Comment on Step-in rights of NEA in 10531.

“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

Published: (Updated: ) in Co-operatives by . Leave a Comment on Amendment of Articles of Cooperation and Bylaws in 9520.

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

Published: (Updated: ) in Co-operatives by . Leave a Comment on Meeting of the Board and Quorum Requirement in 9520.

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 […]