R.A. NO. 9520 ARTICLE 5. DefOfTerm

Question 1

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

Answer 1

Member

Question 2

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: Provided, That for cooperatives with numerous and dispersed membership, the general assembly may be composed of delegates elected by each sector, chapter or district of the cooperative in accordance with the rules and regulations of the Cooperative Development Authority;

Answer 2

General Assembly

Question 3

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

Answer 3

Board of Directors

Question 4

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 4

Committee

Question 4

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

Answer 4

Articles of Cooperation

Question 5

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

Answer 5

Bylaws

Question 6

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

Answer 6

Registration

Question 6

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

Answer 6

Cooperative Development Authority

Question 7

means that body of cooperative principles adhered to worldwide by cooperatives

Answer 7

Universally Accepted Principles

Question 8

is a procedure wherein the cooperative assesses its social impact and ethical performance vis-a-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. It enables the cooperative to develop a process whereby it can account for its social performance and evaluate its impact in the community and be accountable for its decisions and actions to its regular members;

Answer 8

Social Audit

Question 8

means the full membership of a body of representatives elected by each of the sectors, chapter or district o the cooperative duly assembled for the purpose of exercising such powers lawfully delegated unto them by the general assembly in accordance with its bylaws

Answer 8

Representative Assembly

Question 8

shall include the members of the board of directors, members of the different committee 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 8

Officers of the Cooperative

Question 9

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 basis for improving individual team or overall performance and for objectively informing the general membership on such performance

Answer 9

Performance Audit

Question 10

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

Answer 10

Single-Line or Single-Purpose Cooperative

Question 11

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 11

Service Cooperatives

Question 12

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 12

Subsidiary Cooperative

Question 13

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 Authority to undertake business activities in support of its member-cooperatives.”

Answer 13

Federation of Cooperatives