Chapter 1 Flashcards
Article 1 shall be known as
Philippine Cooperative Code of 2008
It is the declared policy of the state to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of economic development and social justice
Declaration of policy
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….
Cooperative
Every Cooperative shall conduct it’s affairs in accordance with Filipino culture,good values and experience and the universally accepted principles of cooperation
Cooperative principles
Universally accepted principles of cooperation which include,but are not limited to, the following
Voluntary and Open membership
Democratic member control
Member economic participation
Autonomy and independence
Education, training and information
Cooperation among cooperatives
Concern for community
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
Voluntary and Open membership
Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decision
Democratic member control
In this, members have equal voting rights of one member, one vote
Primary cooperatives
Members contribute equitably to, and democratically control, the capital of their cooperative
Member economic participation
They shall receive limited compensation or limited interest,if any, on capital subscribed and paid as a condition of membership
Member economic participation
Cooperatives are autonomous,self help organizations controlled by their members
Autonomy and independence
Cooperatives shall provide education and training for their members, elected and appointed representatives, managers, employees so that they can contribute effectively and efficiently to the development of their cooperatives
Education, training and information
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures
Cooperation among cooperatives
Cooperatives work for the sustainable development of their communities through policies
Concern for community
Includes a person either natural or juridical,who,adhering to the principles set forth in this code and in the articles of cooperation
Member
It shall mean the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations pertaining to cooperatives
General assembly
It shall mean that body entrusted with the management of the affairs of the cooperatives under it’s articles of cooperation and bylaws
Board of directors
It shall refer to any body entrusted with specific functions and responsibilities under the bylaws or resolution of the general assembly or the board of directors
Committee
Means the articles of cooperation registered under this code and includes a registered amendment thereof
Articles of cooperation
Means that the registered under this code and includes any registered amendment thereof
Bylaws
Means the operative act granting juridical personality to a proposed cooperative and is evidenced by a certificate of registration
Registration
Refers to the government agency in charge of the registration and regulation of cooperatives as such hereinafter referred to as the authority
Cooperative development authority
Mean that body of cooperative principles adhered to worldwide by cooperatives
Universally accepted principles
Means the full membership of a body of representatives elected by each of the sectors,chapter or district of the cooperative duly assembled for the purpose of exercising such powers …
Representative assembly
Shall include the members of the board of directors,members of the different committees created by the general assembly, general manager….
Officers of the cooperatives
Is a procedure wherein the cooperative assesses it’s social impact and ethical performance vis a vis it’s stated mission, vision, goals and code of social responsibility
Social audit
It enables the cooperatives to develop a process whereby it can account for its social performance and evaluate it’s impact in the community and be accountable for its decisions and actions to ita regular memebers
Social audit
Shall refer to an audit on the efficiency and effectiveness of the cooperative as a whole,it’s management and officers and it’s various responsibility centers….
Performance audit
Shall include cooperative undertaking activities which are related to its main line of business or purpose
Single line or single purpose cooperative
Are those which provide any type of service to its members
Service cooperatives
Service to its members including but not limited to
Transport
Information and communication
Insurance
Housing
Electric
Health services
Education
Banking
Savings
Credit
Refers to any organization all or majority of whose membership or shareholders come from a cooperative,organized for any other purpose different from that of and receives technical,managerial and financial assistance….
Subsidiary cooperative
Refers to three or more primary cooperatives,doing the same line of business,organized at the municipal,provincial,city,special metropolitan political subdivision,or economic zones created by law
Federation of cooperatives
The 17 under the article 5 definition of terms
Supreme body where all authorities emanate from
General assembly
Sets the strategic direction and formulates policies
Board of directors
Prepares for and facilitates the conduct of election
Election committee
Conducts the financial, management and performance audit
Audit committee
Performs a study function for the BOD
Special committee
Administer and facilitates conciliatory process
Conc-Med Committee
Plans and implements education and training programs
Education committee
Develop code of governance and ethical standards
Ethics committe
Administers or keep coop important documents
Secretary
Takes care the money of the coop
Treasurer
Manage the day to day operations
General manager
Performs specific tasks or functions related to the day to day operations
Management staff
