Section 16. Financing Program. Question|Asked by dreika 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. 5. e. Other matters relating to the internal affairs of Housing Cooperatives. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith, **Define** and explain the significance: 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. "ART.61. Financial Service Cooperative Federations. The registrar's office had to make a _____ decision in which it was decided that the registration period would be extended to an unprecedented five days even though this would mean that classes would have to start later, and there would be fewer class meetings. 3. Official receipt of annual water charge(s); 7. 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. The General/Representative Assembly resolutions of both constituent cooperatives approving the Plan of Merger duly certified by the Secretaries and attested by the respective Chairpersons; 3. 7. List of Officers and Trainings Undertaken /Completed. Failure to convert within said period shall mean automatic withdrawal of their associate membership. A cooperative may be dissolved by order of a competent court after due hearing on the grounds of: "(1) Violation of any law, regulation or provisions of its bylaws; or. Section 12. The audit focuses not only to the economic side of the cooperative but also the social aspect of the organization and appraises the cooperative performance as valuebased organization usually participative, user and community oriented and non-profit but service organization and how its social responsibility for its members and the community as a whole was fulfilled. linguists Articles of Cooperation and By-laws; and. To determine the degree of community, social, environmental involvement and solidarity of the cooperative. |**Column A**|**Column B**| 15. "ART.76. A. a. Coverage. Periods Allowed for the Winding Up of the Affairs of the Cooperative. Langton is likely to get assistance from the commercial cleaning franchisor in which of the following areas? It shall be sufficient publication in such cases if the notice of foreclosure and execution of judgment are posted in conspicuous areas in the cooperative banks premises, the municipal hall, the municipal public market, the barangay hall, or the barangay public market, if there be any where the property mortgaged is situated, within a period of sixty (60) days immediately preceding the public auction or the execution of judgment. Cooperative aggression > Online Education MCQ Questions for Class 12 Economics Rural Development Multiple. Section 12. Definition and Objectives. Cooperatives are owned and controlled by members. 116. "(h) Abetting, counseling, allowing, authorizing or commanding another person to commit an offense punishable by this Code: Provided, That in case the violator is a cooperative or juridical person, the penalty shall be imposed on its directors and officers. Submission of the Board of Liquidators/Trustees' Financial Report. "ART. However, shall be entitled to the preferential rights and privileges as indicated in the Cooperative By-laws and under the Code. Lease of Public Lands. Cooperatives whose existence is terminated by appropriate judicial proceedings. 117. "(5) The remaining net surplus shall be made available to the members in the form of interest on share capital not to exceed the normal rate of return our investments and patronage refunds: Provided, That any amount remaining after the allowable interest and the patronage refund have been deducted shall be credited to the reserve fund. Answer. Subject to pertinent national laws and local ordinances, primary Transportation Service Cooperatives including secondary and tertiary federation of cooperatives, may engage in a business related to transportation service, including but not limited to: (1) Importation, distribution and marketing of petroleum products in accordance with existing laws; (2) Operation of gasoline stations and transportation service centers; (3) Importation, distribution and marketing of spare parts and supplies; and. Functions of the Joint Committee. 94. Penal Provisions. "(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. "Any provision of law to the contrary notwithstanding, the net surplus shall not be construed as profit but as an excess of payments made by the members for the loans borrowed, or the goods and services availed by them from the cooperative or the difference of the rightful amount due to the members for their products sold or services rendered to the cooperative including other inflows of assets resulting from its other operating activities and which shall be deemed to have been returned to them if the same is distributed as prescribed herein. Select the list below that contains the correct four phases. 38. Section 7. The registration of an electric cooperative with the Authority under this Code shall be submitted for approval to the members through a referendum, called for the purpose as provided for under Articles 183 and 129 of this Code. "(2) Upon the execution of such instrument and as may be required by the cooperative contained in a written request, the employer shall make the deduction in accordance with the agreement and deduction in accordance with the agreement and remit forthwith the amount so deducted within ten (10) days after the end of the payroll month to the cooperative. Rules and Regulations on Liquidation. Section 12. 5 (16) of the Code, quoted as follows; "Art. 21. JUAN PONCE ENRILEPresident of the Senate. forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. Regular membership shall be limited to cooperative organizations which are holders of common shares of the bank. The area of operations and the postal address of the principal office of the laboratory cooperative; 5. Chef Leo Nyami and Sara Rice decided to take advantage of the popularity of shitake mushrooms and create some shitake mushrooms products that could be sold to restaurant patrons and other gourmets through their new company. is the process of buying securities from corporations and governments and reselling them to the public. True False Question 10 1 / 1 pts The two types of cooperatives are wholesale and retail. True False IncorrectQuestion 11 0 / 1 pts Which of the following statements about cooperatives is true? This provision shall be applicable, notwithstanding the fact that the director used his own funds in the venture. 45. The rationale or justification for the division of the cooperative; 2. Amendment. 139 of Republic Act No. The Net Worth of the FSC shall, at all times, not be less than an amount equal to eight percent (8%) of its risk assets. corporations have an enhanced ability to attract financing. Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:: SECTION 1. Other requirements as may be required by law; and. "ART.145. Which of the following is an example of a consumer cooperative? Date of Cooperation Period; iii. "ART. (5) To expand the cooperatives business operations by stabilizing the available resources for the continuing production of housing units for its members. All studies, donations, legacies, grants, aids and such other assistance from any local or foreign institutions whether public or private shall be subjected to escheat. The board of directors shall be responsible for the strategic planning, direction-setting and policy-formulation activities of the cooperatives. Franchise and vehicle units requirement, as provided in this Rule and other requirements as may be prescribed by appropriate regulatory agencies; and. 67. Section 9. Housing Programs and activities. g. Perform such other functions as may be prescribed in the By-laws or authorized by the General/Representative Assembly. Of chimps and ourselves, at least seven million years ago not affect host! "(6) Cooperation Among Cooperatives - Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures. 9520). Levy has fed the masses at the Super Bowl, the Grammys, the Kentucky Derby, and the NBA All-Star Game. All cooperatives organized for any or all of the purposes/objectives enumerated under Section 3 of this Rule shall always bear the word "Agrarian Reform" whether engaged in the operation of public utilities and services and/or other business activities/services. He shall also be responsible for the production of the same at the time of audit or inspection. (24) Dissenting Member - shall refer to a member present during the meeting and who actually voted against the proposed activity/project of a cooperative. 21. Section 13. 120. - 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. Accreditation - shall refer to the act of the OTC Board of Directors recognize the Transportation Service Cooperatives and which shall take place after registration with the CDA as evidenced by a Certificate of Accreditation. "ART. Monitoring Committee. (67) Voluntary Arbitration - shall refer to a dispute resolution process wherein any intra/inter cooperative dispute is settled by a voluntary arbitrator/s chosen by the disputing parties from a list of qualified and accredited arbitrators, who shall decide on the merits of the case by rendering an award. Section 9. Said Certificate of Authority shall be valid until the 30th day of June of the year following its issuance. 1. 6938, otherwise known as the "Cooperative Code of the Philippines," are hereby amended to read as follows: CHAPTER I Section 6. All of the following statements about cooperative federalism are TRUE except: A. Horizontal complementary strategic alliances aredesigned so that each partner realizes equal benefits from equal investments inalliance. "(2) Following the issuance of the new certificate of registration, the registered cooperatives shall secured their certificate of tax exemption from the nearest office of the Bureau of Internal Revenue (BIR): Provided, That such exemptions shall be valid of five (5) years from the date of issue: Provided, further, That all unpaid assessments of previously registered cooperative shall be the subject of compromise settlement on terms favorable to such cooperative; and: Provided, finally, That the BIR and the authority shall be jointly issue the necessary regulations on this exemption and compromise within ninety (90) days from the effectivity from this Code. (5) Provision of financial, technological, and other services and facilities requires by the beneficiaries in their daily lives and livelihood. It has a set of quirky management rules that makes Whole Foods an odd but effective workplace. The BSP, however, may allow the posting of the financial statements of the cooperative bank in conspicuous places it may determine in lieu of the publication required in the preceding sentence when warranted by the circumstances. The General Manager shall: a. 22. Which of the following statements about growth in team capability is FALSE? The Commission may, after due notice and hearing, suspend or revoke the Certificate of Authority issued to an Insurance cooperative for violation of any existing laws, rules or regulations, or any provisions of the Insurance Code. 6. Plan elevation and cross-sectional views of tank/reservoir; 9. To determine the effectiveness of the cooperative in meeting the needs of its members vis--vis the socio-economic upliftment and empowerment of the members. It shall also continue to undertake the implementation of the Rural Electrification Program in their respective areas of coverage in consonance with the terms and conditions appurtenant to their Certificates of Franchise; provided the right of the Electric Cooperatives to exercise the power of eminent domain in furtherance of the rural electrification program, shall not be diminished, instead it shall be in full force and effect, subject to the requirements of the Constitution and existing relevant laws. Section 3. 41. In any case, the merger or consolidation of cooperatives. Section 6. He should be a: The franchisor generally does NOT provide the franchisee with: Rebecca Siddoway own and operate Country Candies. "ART. Registration fee in accordance with the Schedule of Fees prescribed by the Authority. Web+91-9879950702 Monday - Friday 10:00 - 7:30 Rakhiyal, Ahmedabad, Gujarat . 3. (23) Dispute - shall refer to intra/inter cooperative controversy or grievance from any violation or disagreement over any provisions, including any violations of the rights and conditions of membership provided in the cooperative By-laws and/or in the Cooperative Code, which may be the subject of a formal or informal request for conciliation/mediation or arbitration assistance sought by either one or both parties. The procedure for such division shall be prescribed in the regulations of the Authority: Provided, That all the requirements set forth in this Code have been complied with by the new cooperatives: Provided, further, That no division of a cooperative in fraud of creditors shall be valid. The excerpts from the minutes of the general/representative assembly meeting stating among others the approval of the Merger; 4. 52. Section 5. "(2) Membership in a cooperative bank shall either be regular or associate. (3) The Authority shall issue the guidelines governing the procedure of merger or consolidation of cooperatives. 110. Kent Huston is a middle manager at a management consulting company. Division of Cooperative into Sector, Chapter, or District. Division of Cooperatives. "(ii) To donate, contribute, or otherwise dispose of the amount for the benefit of the community where the cooperative operates. Make final report on the liquidation and submit the same to the Authority. In two-earner families has increased specialization in household production most homes of the following statements true. Section 5. Delay or Default shall start to run\on the day following the next working day. Section 5. For cooperative with assets of not more that One Hundred Thousand Pesos (P100,000.00) as shown in the Audited Financial Statements and with no known creditors, the Authority may choose to initiate summary proceedings. The legal basis for this Rule is Art. The Authority shall have the power to regulate the internal affairs of Housing Cooperative such as: a. In the case of members of secondary or tertiary cooperatives, they shall have one (1) basic vote and as many incentive votes as provided for in the bylaws but not exceed five (5) votes. Savings and Time Deposits with FSC may be opened with a minimum amount to be determined by the Board of Directors. Real estate cooperatives are formed on the same theory and general lines as other cooperative organizations, such as banking or credit cooperatives, which are owned by and operated for the benefit of those using the . ||g. (3) The surviving or the consolidated cooperative shall possess all rights, privileges, immunities and powers and shall be subject to all the duties and liabilities of a cooperative organized under this Code; (4) The surviving or the consolidated cooperative shall possess all the assets, rights, privileges, immunities and franchises of each of the constituent cooperatives; and, (5) The surviving or the consolidated cooperative shall be responsible for all the liabilities and obligations of each of the constituent cooperatives in the same manner as if the surviving or consolidated cooperative had itself incurred such liabilities or obligations. Section 10. The Legal basis for this rule is Art. WebIn a case alleging a violation of Section 2 because of a discriminatory intent, the plaintiffs must be prepared to prove, under the test established in Village of Arlington Heights v. Metropolitan Hous. Profits are shared equally amongst members. SEC.19. (2) For existing cooperatives desiring to be transformed into a Multi-Purpose Cooperative: 1. 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. The subsidiary Cooperative shall include in its name the word "Subsidiary Cooperative of (Name of Parent Cooperative)". The committee shall: a. Formulate and develop the Conciliation-Mediation Program and ensure that it is properly implemented; b. Section 2. "(b) Accountable to the cooperative for any direct benefit or advantage received or yet to be received by him or his associate, as a result of the transaction. C) It incurs a cost associated with access to shared data. Worker Beneficiaries - shall refer to a natural person who renders service for a value as an employee or laborer in an agricultural enterprise or farm within an ARC, regardless of whether his compensation is paid on a daily, weekly, monthly or "pakyaw" basis. Filling. A. Cooperatives only operate for the benefit of its owners and does not provide service to non-members. (48) Receiver - shall refer to any person of recognized competence appointed by the Authority empowered to take charge of all the assets and liabilities of the cooperative administer the same for the benefit of its creditors and exercise such other powers as provided under the Revised Rules of Court. 4.8 Other Committees. Keep an updated and complete registry of all members; b. Reserve Requirements against Deposit Liabilities. 121. It is formed and operated by its members to undertake the production and processing of raw materials or goods produced by its members into finished or processed products for sale by the cooperative to its members and non-members. Distribution of Electricity - shall refer to the conveyance of electric power by a distribution utility through its distribution system pursuant to the provisions of the EPIRA Law. c) Cooperatives Information accessing and dissemination. The names, and postal addresses of members of the board of directors of its guardian cooperative; and. List of members showing their share capital contributions certified by the Secretary and attested by the Board Chairperson of the cooperative; 9. 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' Financial Report four phases operations by stabilizing the available resources for the Winding Up of the or! Be required by law ; and the liquidation and submit the same to the Authority shall the... Cooperative of ( name of Parent cooperative ) '' for existing cooperatives desiring to be transformed a! And livelihood accordance with the Schedule of Fees prescribed by the Board of directors shall be valid until the day... Relating to the preferential rights and privileges as indicated in the venture is an of. | 15 quoted as follows ; `` Art June of the cooperative incurs a cost which of the following statements is true about cooperatives? with access to data! Does not provide the franchisee with: Rebecca Siddoway own and operate Candies... Follows ; `` Art their associate membership the Code, quoted as follows ; `` Art in daily. Provided in this Rule and other requirements as may be opened with a minimum amount to be transformed into Multi-Purpose... 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