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RFBT > COOPERATIVES > Flashcards

COOPERATIVES Flashcards

1
Q

Minimum number of natural persons required to organize a primary cooperative

A

15 persons

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2
Q

What seminar must be completed by a prospective member of a primary cooperative?

A

Pre-Membership Education Seminar

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3
Q

A single-purpose cooperative may transform into a multi-purpose cooperative and may create subsidiaries only after at least ________ of operation

A

2 years

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4
Q

A cooperative may register for a term not exceeding how many years?

A

50 years

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5
Q

A cooperative may apply fr extension of term but such extension cannot be made earlier than ____ years prior to the original or subsequent expiry date/s

A

5

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6
Q

The minimum subscription of the authorized capital stock of a cooperative is?

A

25% of the ACS

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7
Q

The minimum paid-up share capital of a cooperative shall be 25% of the total subscription but not less than:

A

15,000

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8
Q

CDA shall periodaically assess the required paid-up share capital and may increase every ____ years

A

5

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9
Q

All applications for registration shall be finally disposed by the CDA within a period of _____ days from the filing therof, otherwise the application is deemed approved

A

60

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10
Q

A certificate of registration issued by the CDA under its official seal shall be __________ evidence that the cooperative therein mentioned is duly registred

A

Conclusive

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11
Q

The articles of cooperation and by laws of the cooperative may be amended by ____ vote of all members with voting rights

A

2/3

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12
Q

Any registered cooperative may resolve to divide itself into 2 or more cooperatives by a resolution approved by a vote of ____ of all members with voting rights

A

3/4

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12
Q

Any registered cooperative may resolve to merge or consolidate with another cooperative by a resolution approved by a vote of ____ of all members with voting rights

A

3/4

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13
Q

Any merger or consolidation of cooperatives shall be effective upon:

A

The issuance of the certificate of merger and consolidation by the CDA

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14
Q

It is a cooperative that promotes and undertakes savings and lending services among its members

A

Credit

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15
Q

It is a cooperative in which the primary purpose is to procure and distribute commodities to members and non-members

A

Consumers

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16
Q

It is a cooperative that undertakes joint procedures whether agricultural or industrial

A

Producers

17
Q

It is a cooperative which is engaged in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication, professional and other services.

A

Service

18
Q

It is a cooperative which combines 2 or more of the business activities of the different types of cooperatives

A

Multipurpose

19
Q

It is a cooperative which promotes and advocates cooperativism

A

Advocacy

20
Q

It is a cooperative which is organized by marginal farmers majority of which are agrarian reform beneficiaries

A

Agrarian Reform

21
Q

It is cooperative which is organized for the primary purpose of providing a wide range of financial services to cooperatives and their members

A

Cooperative Bank

22
Q

It is a cooperative whose members are engaged in the production of fresh milk which may be processed and/or marketed as dairy products

A

Dairy

23
Q

It is a cooperative organized for the primary purpose of owning and operating licensed educational institutions

A

Education

24
Q

It is a cooperative which is organized for the primary purpose of undertaking power generations, utilizing renewable energy sources, including hybrid systems, acquisition and operation of subtransmission or distribution to its household members

A

Electric

25
Q

It is a cooperative which is organized for the primary purpose of engaging in savings and credit services and other financial services

A

Financial Services

26
Q

It is a cooperative which is organized to own, operate and manage water systems for the provision and distribution of portable water for its members and their households

A

Water Service

27
Q

A Housing Cooperative is ____ by its members

A

Co-owned and controlled

28
Q

A cooperative in which the members are natural persons

A

Primary

29
Q

2 kinds of membership in a cooperative

A

Regular and Associate

30
Q

An associate who meets the minimum requirements of regular membership continues to patronize the cooperative for ____ years, and signifies his/her intention to remain a member shall be considered a regular member

A

2

31
Q

A cooperative organized by minors shall be considered a _____ cooperative

A

Laboratory

32
Q

3 Exclusive Powers of General Assembly which CANNOT be delegated

A
  1. To determine and approve amendments to the articles of cooperation
  2. To elect or appoint the members of the board of directors and remove them for a cause
  3. To approve developmental plans of the cooperative
33
Q

Only for the purposes of prompt and intelligent decision making, the GA may by a ______ vote of all its members with voting rights, delegate some of its powers to a smaller body of the cooperative

A

3/4

34
Q

If not so fixed, the annual meeting of the GA must be held within how many days after the close of fiscal year?

A

90 days

35
Q

Notice in writing for a special meeting of the GA must be sent ______ prior to the meeting to all members entitled to vote

A

One week

36
Q

Quorum in cooperative banks

A

1/2 plus 1

37
Q

Quorum in cooperative banks in which to amend the Articles and the By laws

A

3/4

38
Q

Quorum in Electric Cooperatives

A

5% of all members entitled to vote, unless the by laws provides otherwise

39
Q

Quorum in Cooperatives (In General)

A

at least 25 % of all the members entitled to vote

40
Q

Cooperatives BOD Composition

A

not less than 5 but not more than 15 elected by the GA

41
Q

Terms of Cooperatives BOD

A

2 years

RFBT (13 decks)

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