which of the following statements is true about cooperatives?

Section 8. The newly appointed head of the division is organizing, hiring people, and operating the division. "ART. Regulation and Supervision. 3. However, those already engaging in such shall be given two (2) years transition period to undertake any of the following options: To organize an insurance cooperative with other primary cooperatives that have the same insurance-like business activity; (2) To join an existing Insurance Cooperative; (3) To partner with licensed micro-insurance providers; and. 114. "ART. Tendencies towards cooperative aggression evolved in a common ancestor of chimps and ourselves, at least seven million ago. All associate members who are natural persons shall be given two (2) years to become regular members. Articles 86 and 87 of Chapter X on Allocation and Distribution of Net Surplus of the same Code are hereby renumbered and amended to read, as follows: CHAPTER X If the objection or opposition is meritorious, in order not to prejudice the interest of the third party, the Authority shall cause the deferment or disapproval of the registration of the new cooperatives. The legal basis for this Rule is Art. "(g) To perform such other functions as may be necessary to attain its objectives. 87. 66. 6938 and Republic Act No. "ART. Section 6. e. Perform such other functions as may be authorized by the Board of Directors or by the General/Representative Assembly. "(3) Any government employee or official may, in the discharge of is duties as a member in the cooperative, be allowed by the end of office concerned to use official time for attendance at the general assembly, board and committee meetings of cooperatives as well as cooperative seminars, conferences, workshops, technical meetings, and training courses locally or abroad: Provided, That the operations of the office concerned are not adversely affected. Undertaking to comply with the auditing and accounting standards prescribed by the Authority. Members of the Joint Congressional Oversight Committee on Cooperatives. 9520). This means that Ng: agrees not to participate in day-to-day management of the firm, earnings of the corporation and dividends of the shareholders both are taxed. Preparation of the Submit Reports on Time. "ART. To standardize the quality, uniformly of grade of milk, and other dairy products; 2. Section 8. Parasites always kill their hosts. Such other function as the need arises. Within seven (7) days after the date of approval of the division of the cooperative, the Secretary of the cooperative, duly noted by the Chairperson, shall publish such plan of division once a week for three (3) consecutive weeks in a newspaper of general circulation within its area of operation. "Thereafter, the board of directors shall present the complete audit report to the general assembly in its next meeting. Democratic Member Control - Electric Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decisions. Section 10. Members allocate surpluses for any or all of the following purposes: developing the cooperative by setting up reserves, part of which should at least be indivisible; benefitting members in proportion to their partonage of the cooperative's bubsiness; and, supporting other activities approved by the membership. Transitory Period. Statement of Financial Condition (Balance Sheet), Statement of Operation (Statement of Net Surplus) and Statement of Cash Flows, by which the financial information accumulated and processed in financial accounting, is periodically communicated to those who use it. A Resolution certified by the cooperative's Secretary and by the majority of the Board of Directors stating the fact that said amendments have been duly approved by at least two-thirds (2/3) vote of all the members with voting rights; 5. The rights and liabilities of membership; 3. The registration on an Electric Cooperative with the Authority under Article 127 of the Code shall be submitted for approval to the members through a referendum, as a voting procedure, specially called for such purpose. 102. The legal basis for this Rule is Art. Section 2. (1) A regular meeting shall be held annually by the general assembly on a date fixed in the bylaws, or if not so fixed, on any dated within ninety (90) days after the close of each fiscal year: Provided, That notice of regular meetings shall be sent in writing, by posting or publication, or through other electronic means to all members of record. "(b) In terms of territory, cooperatives shall be categorized according to areas of operations which may or may not coincide with the political subdivisions of the country. All the statutory funds established by the cooperative shall be disposed of in accordance with the provision for Art. Section 13. Member c. Non-member d. Investor 2. "ART. 26. Additional Requirements for Registration. 1956, as amended, otherwise known as the Insolvency Law. "ART. Micro-Insurance - shall refer to an activity providing specific insurance, insurance-like, and other similar products and services that meet the needs of the low-income sector for risk protection and relief against distress, misfortune and other contingent events. No. "ART. Copyright 2021 Quizack . Stenographic Notes/Transcript. Section 13. "(5) Any register of deeds shall accept for registration, free of charge, any instrument relative to a loan made under this Code which does not exceed Two Hundred Fifty Thousand Pesos (P250,000.00) or the deeds of title of any property acquired by the cooperative or any paper or document drawn in connection with any action brought by the cooperative or with any court judgment rendered in its favor or any instrument relative to a bond of any accountable officer of a cooperative for the faithful performance of his duties and obligations. Coverage. Section 14. Once the registration requirements are found to be completed and in order, the Authority shall issue the Certificates of Registration to the new cooperatives. The method for the issuance of share certificates shall prescribed in its bylaws. 1. 116. "(5) The surviving or the consolidated cooperative shall be responsible for all the liabilities and obligation of each of the constituent cooperatives in the same manner as if such surviving or consolidated cooperative had itself incurred such liabilities or obligations. 124. Article 122 is hereby deleted. D. It travels in one direction. Population data Which of the following statements about the decision process is true? The management of the original cooperative shall then transfer the member's share and all other interests to his/her chosen cooperative. "ARTICLE 1. When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. It shall also refer to Cooperative Insurance Societies (CIS). Section 13. To act as ex-officio Chairperson of the Education and Training Committee; and. 94. Composition and Term of the Board of Directors. (34) Involuntary Dissolution - shall refer to the termination of the juridical personality of the cooperative through an appropriate judicial proceeding or by Order of the Authority. "ART. "ART. Articles 96, 97 and 98 of Chapter XII on the Special Provisions on Public Services Cooperatives of the same Code are hereby transferred to another chapter. The BSP, in coordination with the Authority, shall come up with the implementing guidelines on how to credit the owners of the funds. The Articles of Cooperation and By-Laws. Section 1. Section 4. Section 5. This should support the Property and Equipment in Service referred to in item 10 above; 15. All complaints shall be filed with CDA-Extension Office having administrative jurisdiction over the cooperatives. Online Education MCQ Questions for Class 12 Economics Rural Development MCQs Multiple Questions. the appearance of the body| Schedules, tasks, and budgets are examples of what type of data? 20. Settlement of Disputes. Dissolution by Order of the Authority. She needs these data to help the chain devise its own advertising strategy. The electric cooperatives registered under this Code can avail of the financial services and technical assistance provided by the government financial institutions and technical development agencies on terms respecting their independence as autonomous cooperatives; "(5) All condoned loans, subsidies, grants and other assistance shall form part of the donated capital and funds of the electric cooperatives and as such, it shall not be sold, traded nor be divided into shareholdings at any time; these donated capital/fund shall be valuated for the sole purpose of determining the equity participation of the members: Provided, That in the case of dissolution of the cooperative, said donated capital shall be subject to escheat; and. In compliance with the referendum as a voting procedure, the required number of votes for registration with the Authority shall be twenty percent (20%) of all members in good standing. Member in Good Standing - shall refer to one who is a regular member and has complied with all the requisites for membership. (24) Dissenting Member - shall refer to a member present during the meeting and who actually voted against the proposed activity/project of a cooperative. Arbitration Proceedings. Section 3. Subject to the bylaws of the cooperative, the withdrawing member shall be entitled to a refund of his share capital contribution and all other interests in the cooperative: Provided, That such fund shall not be made if upon such payment the value of the assets of the cooperative would be less than the aggregate amount of its debts and liabilities exclusive of his share capital contribution. It shall have the preferential right to the management and operation of public terminals and ports whether land or sea transport where the cooperative operates and on securing a franchise for active or potential routes for the public transport; "(10) Cooperatives transacting business with the Government of the Philippines or any of its political subdivisions or any of its agencies or instrumentalities, including government-owned and controlled corporations shall be exempt from prequalification bidding requirements notwithstanding the provisions of Republic Act No.9184, otherwise known as, the Government Procurement Act; "(11) Cooperative shall enjoy the privilege of being represented by the provincial or city fiscal or the Office of the Solicitor General, free of charge, except when the adverse party is the Republic of the Philippines; "(12) Cooperatives organized by faculty members and employees of educational institutions shall have the preferential right in the management of the canteen and other services related to the operation of the educational institution where they are employed: Provided, That such services are operated within the premises of the said educational institution; and. 2. Option E is correct. Organizing a Primary Cooperative. Vacancy in the Sector, Chapter, or District Representative or Delegate. corporate culture is based on the accumulated history of the organization, can have a strong impact on a company's success, is tangible, and evolves over time. It looks into the function of the organization as an empowering and responsive mechanism. Cooperative federalism has Functions of FSC. "Upon expiry of the five (5) day notice to file objections, the Authority shall proceed to hear the petition and try any issue raised in the objection filed; and if the objection is sufficient and the material allegations of the petition are proven, it shall issue an order to dissolve the cooperative and direct the disposition of its assets in accordance with existing rules and regulations. SSS - shall refer to the Social Security System. Effect of Dissolution of Parent or Subsidiary Cooperative. It can't be created through a conversion process. A parent cooperative may organize a subsidiary cooperative provided that: 1. ||e. He asks for suggestions from his sales reps but will make his own decision. _____ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership. Technical Plan - shall refer to all technical documents required in planning a housing project namely, the bar chart and construction schedule, systematic development plan, the architectural and detailed engineering and housing design, contract documents, technical and material specification.

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