If the committee fails to decide within the prescribed period, the appeal is deemed approved in favor of the applicant. However, associate Members shall not be eligible to vote nor be voted on account of such shareholdings but shall be entitled to, among others the following: 1. Section 8. The Representative Assembly shall exercise the powers as provided for in the By-laws. Section 7. Arbitration Proceedings. Cooperatives transacting business with both members and non-members shall not be subjected to tax on their transactions with members. Proof of Publication/Posting of the Announcement of Merger; 10. Section 6. 6. The Registered Names, Addresses and Registration/Confirmation Numbers, Contact Details and Respective Areas of Operation of the Constituent Cooperatives; 3. "(2) Cooperatives with accumulated reserves and divided net savings of more than Ten million pesos (P10,000,000.00) shall fee the following taxes at the full rate: "(a) Income Tax - On the amount allocated for interest on capitals: Provided, That the same tax is not consequently imposed on interest individually received by members: Provided, further, That cooperatives regardless of classification, are exempt income tax from the date of registration with the Authority; "(b) Value-Added Tax � On transactions with non-members: Provided, however, That cooperatives duly registered with the Authority; are exempt from the payment of value-added tax; subject to Section 109, sub-sections L, M and N of Republic Act No. All complaints shall be filed with CDA-Extension Office having administrative jurisdiction over the cooperatives. 21. "(2) All matters relating to the franchise or certificate of public convenience and necessity of public service cooperatives such as capitalization and investment requirements, equipment and facilities, frequencies, rate-fixing and such other matters affecting their public service operations shall be governed by the proper government agency concerned. "Upon the winding up of the cooperative affairs, any asset distributable to any creditor, shareholder or member who is unknown or cannot be found shall be given to the federation or union to which the cooperative is affiliated with. "(2) If a cooperative fails to make, publish and file the reports required herein, or fails to include therein any matter required by the Code, the Authority shall, within fifteen (15) days from the expiration of the prescribed period, send such cooperative a written notice, stating its non-compliance and the commensurate fines and penalties that will be imposed until such time that the cooperative has complied with the requirements. Section 5. Section 16. Powers, Functions, and Responsibilities of the Representative or Delegate. In the case of a public official or employee, the offender shall upon conviction, suffer the accessory penalty of temporary absolute disqualification. Cooperative Unions. The rights and liabilities of membership; 3. 24. "The Authority, in consultation with the concerned government agencies and cooperative sector, shall issue appropriate rules and regulations pertaining to the provisions of this Chapter.". "The BSP and the Authority, in consultation with the concerned cooperative sector, shall issue appropriate rules and regulations pertaining to the provisions of this Chapter. k. The sector, chapter, or district assembly meetings; l. The quorum required in the representative assembly meeting; m. The powers of the Representative Assembly; n. The conduct of the representative meeting; o. � (1) Every cooperative shall draw up regular reports of its program of activities, including those in pursuance of their socio-civic undertakings, showing their progress and achievements at the end of every fiscal year. Payment of interest, unless otherwise provided for in the By-laws, must be made on such date as may be determined by the Board of Directors. To assist its members a guaranteed market outlet, to bargain for the best price terms possible in the market place, including over-order premiums in milk marketing orders, and to market the milk efficiently, i.e., balancing plant needs, diverting milk surpluses, and assembling producer milk and to have the highest quality producer milk possible in the market; and. The Minutes of the General/Representative Assembly Meeting approving the Plan of Division; 4. Definition of Terms. The authority granted, may be revoked by the BSP if any of the grounds for receivership mentioned under Section 30 of Republic Act. Functions of FSC. "In addition to the powers granted by this Code and other existing laws, any cooperative bank may perform any or all of the banking services offered by other types of banks subject to the prior approval of the BSP. 18 of the Code. It shall include the facts and the law and/or contract upon which the Decision/Award is based and shall be signed by the Voluntary Arbitrator/s. General Requirements. Purpose and Objectives. The Authority shall have the power to regulate the internal affairs of Transportation Service Cooperative, such as: e. Other matters relating to their internal affairs of Transportation Service Cooperatives. 9, Rule 10 of the Rules and Regulations Implementing Certain Provisions of the Philippine Cooperative Code of 2008 (RA 9520). The subsidiary Cooperative shall include in its name the word "Subsidiary Cooperative of (Name of Parent Cooperative)". "(g) To perform such other functions as may be necessary to attain its objectives. A century and a year after the first law supporting cooperatives - the Act of 2508 - was signed in February 5, 1915, cooperatives in the Philippines have produced about 35 billionaire cooperatives, five of which are cooperative banks. Section 19. Failure to attend the immediate preceding representative assembly meeting for unjustifiable reason; 2. - Disputes among members, officers, directors, and committee members, and intra-cooperative, inter-cooperative, intra-federation or intra-federation disputes shall, as far as practicable, be settled amicably in accordance with the conciliation or mediation mechanism embodied in the bylaws of cooperatives and in such other applicable laws. DOTC - shall refer to Department of Transportation and Communications. High Rise/Condominium Housing - shall refer to the construction of at least five (5) storey residential building in high density urban and rural areas to provide housing to low income earners. The Officers of the merged or consolidated cooperatives shall file with the Authority the following additional requirements for registration: 1. Section 11. The members of Audit Election Committees shall be elected by the General Assembly while the Board of Directors shall appoint the rest. Water Permit - shall refer to the authority to appropriate and use water. Such address and every change thereof shall be registered with the Authority. � All complaints for the removal of any elected officer shall be filed with the board of directors. Said publication may also be supplemented by radio and television announcements. 83. Types of Cooperation underRepublic Act No. In case there are two (2) or more applicants for the same public service franchise or certificate of public convenience and necessity, all things being equal, preference shall be given to a public service cooperative. The share of capital of a cooperative is the money paid or required to be paid for the operations of the cooperative. Land Ownership (any of the following: Certificate of Title, Tax Declaration, Lease Agreement, Deed of Donation, Deed of Sale, etc; 3. Any amendment thereto, shall be subject to the review and approval of the JCOCC. Surely Bond Accountable Officers handling funds, properties and sureties; 6. Registration Options. Non-compliance with the second Notice/Summons by the Respondent/s shall be cause for the dismissal of the complaint. "ART. These guidelines shall give due recognition to the unique nature and character of cooperative banks. Leadership and Organizational Management. "ART. (50) Representative Assembly - shall refer to the full membership of the body of representatives elected by each of the sectors, chapters or districts of the cooperative duly assembled for the purpose of exercising such powers lawfully delegated unto them by the general assembly in accordance with its By-laws. Securing of Water Permit and/or CPC. A copy of this Decision/Award shall be furnished the Authority. 7653 as may be deemed appropriate to financial service cooperatives. Registration fee as prescribed by the Authority. "ART.75. This paragraph shall not apply to those cases wherein a specific provision of this Code expressly designates particular government agencies which shall issue the regulations called for by any provision of this Code. Summary Proceedings. "(d) Any other acts inimical or adverse to the autonomy and independence of cooperatives. 93 (6) and Art. Section 5. Settlement of Disputes. Housing Cooperatives may engage in the following activities: b. An inventory of the audited documents, records and books to be disposed of shall be drawn up and certified to by the board secretary and the chairman of the audit committee and presented to the board of directors which may thereupon approve the disposition of said records. The jurisdiction of the voluntary arbitration shall be exclusive and original and their decisions shall be appealable to the Office of the President. 14. Well Drilling Data (in case of existing groundwater source authenticated by the well driller) including Physical and Chemical, Analysis water; 7. It generates a common pool of funds in order to provide financial assistance to its members for productive and provident purposes; "(b) Consumers Cooperative is one of the primary purpose of which is to procure and distribute commodities to members and non-members; "(c) Producers Cooperative is one that undertakes joint production whether agricultural or industrial. In relation to this, all cooperatives are encourage to promote environmental awareness and instill environmental protection and conservation to their members and the community where they operate, and as far as practicable to conduct tree-planting activities in the community where they operate or its immediate environs. 3. Powers, Functions and Allied Undertakings of Cooperative Banks. 9520, otherwise known as the Philippine Cooperative Code of 2008, the Commission and the Authority in consultation with the concerned cooperative sector hereby promulgate the following rules and regulations for the proper guidance and compliance of the Insurance Cooperatives. Submission of the Board of Liquidators/Trustees' Financial Report. First Community Cooperative (FICCO) - a cooperative from Cagayan de Oro City is one of the biggest cooperative in the Philippines with a total resources of 14,474,633,015 pesos and a total membership of 375,648 as of December 31, 2019. To require any person to attend hearing/s as witness or to cause production of documents when the relevancy and the materiality thereof are vital to the resolution of the case. For the purpose of these Rules and regulations, the following terms are defined as follows: (1) Alternative Dispute Resolution - shall refer to any process or procedure used to resolve a dispute or controversy, other than by adjudication of a presiding Judge of Court or an officer of a government agency, in which a neutral third party participates to assist in the resolution of issue, which includes arbitration, mediation, conciliation, early neutral evaluation, mini trial, or any combination thereof. ROLE OF LWUA. Preference of Claims. SSS - shall refer to the Social Security System. Fifteen (15) or more natural persons who are Filipino citizens, of legal age, having a common bond interest and actually residing or working in the intended area of operation, may organize a dairy cooperative. Well drilling Data (in case of existing ground water source): and. (22) Delay in the submission of reports - shall refer to the failure of the cooperatives to submit a report on time. Failure to file the required reports on time shall subject the Accountable Officer to pay a fine of Php 100.00 per day of delay. Stenographic Notes/Transcript. Housing Beneficiaries - shall refer to regular members in good standing of the Housing Cooperative who actively in the By-laws and duly approved internal policies of the cooperative. Section 5. The proposed amendment to the Articles of Cooperation and By-laws of the Surviving Cooperative, if necessary; 8. 136. Water Service Cooperatives shall file their application with the CDA Extension Office, which shall have jurisdiction over the said cooperatives. � The cooperative banks registered under this Code shall be given the same privileges and incentives granted to the rural banks, private development bank, commercial banks, and all other banks to rediscount notes with the BSP, the Land Bank of the Philippines, and other government banks without affecting in any way the provisions of this Code. "(h) To do and perform such other non-business activities as may be necessary to attain the foregoing objectives. The Authority is mandated to implement and enforce these Rules and Regulations. Application. Thereafter, every newly registered cooperative shall be issued at cost a copy of this Code and the regulations promulgated thereon together with its certificate of registration. � (1) The National Printing Office shall publish this Code in the Official Gazette in full within sixty (60) days from the date of approval thereof. The final disposition of the issue/s submitted to Voluntary Arbitration is the Decision/Award. Men and women serving as elected representatives, directors or officers are accountable to the membership. The said members shall be duly appointed by the Senate President and the Speaker of the House of Representatives from the members of the respective committee based on the proportional representation of the parties or coalition therein. 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