Lesson 4 - General Concepts and Principles
Lesson 4 - General Concepts and Principles
9520
Effectivity
Date: 15 days after publication
(March 23, 2009)
ART 3. GENERAL CONCEPTS
Member
includes a person either natural or
juridical who adhering to the principles set
forth in this Code and in the Articles of
Cooperative, has been admitted by the
cooperative as member;
Board of Directors
shall mean that body entrusted with the
management of the affairs of the cooperative
under its articles of cooperation and bylaws;
Committee
shall refer to any body entrusted with specific
functions and responsibilities under the bylaws or
resolution of the general assembly or the board of
directors;
Articles of Cooperation means the articles
of cooperation registered under this Code
and includes a registered amendment
thereof;
Bylaws means the bylaws registered under
this Code and includes any registered
amendment thereof;
Registration means the operative act
granting juridical personality to a proposed
cooperative and is evidenced by a certificate
of registration;
Cooperative Development Authority refers
to the government agency in charge of the
registration and regulation of cooperatives
as such hereinafter referred to s the
Authority;
Universally Accepted Principles means
that body of cooperative principles adhered
to worldwide by cooperatives;
Social Audit