Essay on Cooperative Code

23779 Words Mar 26th, 2016 96 Pages
Republic Act No. 9520

February 17, 2009

AN ACT AMENDING THE COOPERATIVE CODE OF THE PHILIPPINES TO BE KNOWN AS THE "PHILIPPINE COOPERATIVE CODE OF 2008"

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Articles 1, 2, 3, 4 and 5 of Chapter 1 on General Concepts and Principles of Republic Act No. 6938, otherwise known as the "Cooperative Code of the Philippines," are hereby amended to read as follows:

CHAPTER I
GENERAL CONCEPTS AND PRINCIPLES

"ARTICLE 1. Title. - This Act shall be known as the "Philippine Cooperative Code of 2008".

"ART. 2. Declaration of Policy.- It is the declared policy of the State to foster the creation and growth of cooperatives as a
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"ART. 4. Cooperative Principles. - Every cooperative shall conduct its affairs in accordance with Filipino culture, good values and experience and the universally accepted principles of cooperation which include, but are not limited to, the following:

"(1) Voluntary and Open Membership - Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, cultural, political or religious discrimination.

"(2) Democrative Member Control - Cooperatives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decisions. Men and women serving as elected representatives, directors or officers are accountable to the membership. In primary cooperatives, members have equal voting rights of one-member, one-vote. Cooperatives at other levels are organized in the same democratic manner.

"(3) Member Economic Participation - Members contribute equitably to, and democratically control, the capital of their cooperatives. At least part of that capital is the common property of

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