UNIT 3 Flashcards
They includes a person either natural or juridical who, adhering to the principles set forth in the Cooperative Code of 2008 and in the articles of cooperation, has been admitted by the cooperative as ________.
Members
Members includes a person either natural or juridical who, adhering to the principles set forth in the ______________ and in the ______________, has been admitted by the cooperative as member.
Cooperative Code of 2008 and Articles of Cooperation
Article 26 of the Cooperative Code, A cooperative may have __ kind of members
two or 2
They exists primarily to meet and provide the necessary goods and services that the members requires.
Cooperative organizations
The very essence of cooperatives life existence is to?
satisfy the social, cultural, economic, physical and spiritual needs of its members
As member of the association, the individual person has to
[a] assume the duties and responsibilities required as a member
[b] owners or co-owners of the organization (capital provider-investor)
[c] as member-customer
Features and Characteristics of Membership
[a] assume the duties and responsibilities required as a member
[b] owners or co-owners of the organization (capital provider-investor)
[c] as member-customer,
_______________ in the cooperatives is open and voluntary to any natural or individual persons of legal age, Filipino citizens, residing and/or working in the cooperative area of operations who can make use of its services and/or the business activities undertaken and are willing to accept the duties and responsibilities of membership.
Membership
Later on the _____________who will be able to meet the minimum requirements of regular member members and continues to patronize the cooperative for two (2) years, and signifies his/her intention to remain a member shall be considered a regular member.
associate members
What are the Requirements for Membership?
[a]. Approved application for membership;
[b]. Certificate of completion of the prescribed Pre-Membership Education Seminar (PMES);
[c]. Subscribed and paid the required minimum share capital and membership fee.
Later on the associate members who will be able to meet the minimum requirements of regular member members and continues to patronize the cooperative for_________years, and signifies his/her intention to remain a member shall be considered a regular member.
two (2)
What are the 2 kinds of members?
Regular members
Associate member
In ____________________, A cooperative may have two (2) kinds of members
Article 26 of the Cooperative Code
An _______________ is one who has no right to vote nor be voted upon and shall be entitled only to such rights and privileges as the by-laws of the cooperative may provide.
associate member
What are the Rights and Privileges of Members of Regular Member of Cooperatives?
- Attend general membership meetings;
- Avail himself of the services of the Cooperative, subject to certain conditions as may be prescribed by the Board of Directors;
- Inspect and examine the books of accounts, the audited financial statements, the minutes books, the share register, and other records of the Cooperative during reasonable office hours;
- Secure copies of Cooperative records/documents pertaining to the account information of the concerned member;
- Participate in the continuing education and other training programs of the Cooperative; and such other rights and privileges as may be granted by the General Assembly.
What do u call when a member shall be liable for the debts of the Cooperative only to the extent of his/her subscribed share capital.
Limited Liability of Members
Later on the associate members who will be able to meet the minimum requirements of regular member members and continues to patronize the cooperative for two (2) years, and signifies his/her intention to remain a member shall be considered a_______________.
regular member
They are the one who has complied with all the requirements of membership and entitled to all the rights and privileges of membership.
Regular members
What are the Rights and Privileges of Members of Associate Member of Cooperatives?
- Attend general membership meetings;
- Avail themselves of the services of the Cooperative, subject to certain conditions as may be prescribed by the Board of Directors;
- Inspect and examine the books of accounts, the audited financial statements, the minutes books, the share register, and other records of the Cooperative during reasonable office hours;
- Secure copies of Cooperative records/documents pertaining to the account information of the concerned member; and such other rights and privileges as may be granted by the General Assembly
What are the Duties, Responsibilities and Liabilities of each Member of Cooperatives?
a) Pay the installment of his/her share capital subscription as it falls due and to participate in the capital build-up and savings mobilization activities of the Cooperative;
b) Patronize the Cooperative’s business(es) and services;
c) Participate in the membership education programs and other activities and affairs of the Cooperative;
d) Attend and participate in the deliberation of all matters taken during General Assembly meetings; and
e) Observe and obey all lawful orders, decisions, rules and regulations adopted by the Board of Directors and the General Assembly.
