Chapter 1 (ART.1-5)

Question 1

Article 1. The act shall be known as

Answer 1

Philippine Cooperative Code of 2008

Question 2

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.

Answer 2

Cooperative

Question 3

Cooperative Principles (7)

Answer 3

1. Voluntary and Open Membership
2. Democratic Membership Control
3. Member Economic Participation
4. Autonomy and Independence
5. Education, Training and Information
6. Cooperation Among Cooperatives
7. Concern for Community

Question 4

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.

Answer 4

Voluntary and Open Membership

Question 5

Cooperatives
are democratic organizations that are controlled by
their members who actively participate in setting
their policies and making decisions.

Answer 5

Democratic Memeber Control

Question 6

Members contribute equitably to, and democratically control,
the capital of their cooperative.

Answer 6

Memeber Economic Participation

Question 7

Cooperatives
are autonomous, self-help organizations controlled
hy their members.

Answer 7

Autonomy and Independence

Question 8

Cooperatives shall provide education and training
for their members, elected and appointed
representatives, managers, and employees, SO
that they can contribute effectively and efficiently to
the development of their cooperatives.

Answer 8

Education, Training and Information

Question 9

Cooperatives serve their members most effectively
and strengthen the cooperative movement by
working together through local, national, regional
and international structures.

Answer 9

Cooperation Among Cooperatives

Question 10

Cooperatives work
for the sustainable development of their
communities through policies

Answer 10

Concern for Community

Question 10

Cooperatives work
for the sustainable development of their
communities through policies

Answer 10

Concern for Community

Question 11

includes a person either natural or
juridical who, adhering to the principles set forth in
this Code and in the articles of cooperation, has
been admitted by the cooperative as member

Answer 11

Member

Question 12

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, as provided by this Code, its articles
of cooperation and bylaws

Answer 12

General Assembly

Question 13

shall mean that body
entrusted with the management of the affairs of the
cooperative under its articles of cooperation and
bylaws

Answer 13

Board of Directors (BOD)

Question 14

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

Answer 14

Committee

Question 15

means the articles of
cooperation registered under this Code and
includes a registered amendment thereof

Answer 15

Articles of Cooperation

Question 16

means the bylaws registered under
this Code and includes any registered amendment
thereof

Answer 16

Bylaws

Question 17

means the operative act granting
juridical personality to a proposed cooperative and
is evidenced by a certificate of registratio

Answer 17

Registration

Question 18

Development Authority refers to
the government agency in charge of the registration
and regulation of cooperatives as such, hereinafter
referred to as the Authority

Answer 18

Cooperative

Question 19

Accepted Principles mean that
body of cooperative principles adhered to
worldwide by cooperatives

Answer 19

Universally

Question 20

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 lawfully delegated nntc
them by the general assembly in accordance with
its bylaws

Answer 20

Representative Assembly

Question 21

shall include
the members of the board of directors, members of
the different committees created by the general
assembly, general manager or chief executive
officer, secretary, treasurer and members holding
other positions as may be provided for in their
bylaws

Answer 21

Officers of the Cooperative

Question 22

is a procedure wherein the
cooperative assesses its social impact and ethical
performance vis-&vis its stated mission, vision,
goals and code of social responsibility for
cooperatives to be established by the Authority in
consultation with the cooperative sector.

Answer 22

Social Audit

Question 23

shall refer to an audit on
the efficiency and effectiveness of the cooperative
as a whole; its management and officers; and its
various responsibility centers as basi,g for
improving individual, team or overall performance
and for objectively informing the general
membership on such performance

Answer 23

Performance Audit

Question 24

shall include cooperative undertaking
activities which are related to its main line of
business or purpose

Answer 24

Single-line or single-purpose cooperative

Question 25

are those which
provide any type of service to its members,
including but not limited to, transport, information
and communication, insurance, housing, electric,
.health services, education, banking, and savings
and credit

Answer 25

Service Cooperatives

Question 26

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 from, a cooperative, in accordance with
the rules and regulations of the Authority

Answer 26

Subsidiary Cooperative

Question 27

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, registered with the

Answer 27

Federation of Cooperatives