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Articles of Cooperation

This document outlines the articles of cooperation for the Alaminos Market Vendors Multi-Purpose Cooperative. It establishes the cooperative's name, objectives, goals, powers, term of existence, membership requirements, capitalization structure, and board of directors. The objectives include undertaking savings and lending, providing financial services to members, procuring and distributing commodities, and engaging in joint production and marketing assistance. The goals are to improve members' quality of life through increased income and benefits.

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Karren Reyes
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521 views6 pages

Articles of Cooperation

This document outlines the articles of cooperation for the Alaminos Market Vendors Multi-Purpose Cooperative. It establishes the cooperative's name, objectives, goals, powers, term of existence, membership requirements, capitalization structure, and board of directors. The objectives include undertaking savings and lending, providing financial services to members, procuring and distributing commodities, and engaging in joint production and marketing assistance. The goals are to improve members' quality of life through increased income and benefits.

Uploaded by

Karren Reyes
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ARTICLES OF COOPERATION

KNOW ALL MEN BY THESE PRESENTS:


We, the undersigned Filipino citizens, all of legal age and residents of the Philippines,
have voluntarily agreed to organize a primary cooperative, under the laws of the Republic of
the Philippines.
AND WE HEREBY CERTIFY:

Article I
Name of the Cooperative
That

the

name

of

this

Cooperative

shall

be

ALAMINOS MARKET VENDORS MULTI-PURPOSE COOPERATIVE.

Article II
Objective
That the type of this cooperative is Multi-Purpose Cooperative and the
purpose(s) for which this Cooperative is organized is/are to engage in:
1. To undertake savings and lending services among the members.
2. Create a pool such savings for which loans for productive and
provident purposes may be granted to its members.
3. Provide financial assistance and other related credit services to the
members to maximize the benefit from such loans.
4. Procure and distribute basic commodities to members non members.
5. Encourage thrift and savings mobilization among the members.
6. Undertake joint production whether agricultural or industrial and
processing of raw materials or goods produced by the members into
finished or processed products for sale by the cooperative to its members
and non members.
7. Engage in the supply of production inputs to members and market their
products.
Article III
Goals
That the goals of this cooperative is to help improve the quality of life of
its members and in furtherance thereto shall aim:
1. To attain increased income, savings, investments, productivity, and
purchasing power, and promote among themselves equitable distribution
of net surplus through maximum utilization of economies of scale, costsharing and risk-sharing;
2. To provide optimum social and economic benefits to its members;
3. To teach members efficient ways of doing things in a cooperative
manner;
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4. To propagate cooperative practices and new ideas in business and


management;
5. To allow the lower income and less privileged groups to increase their
ownership in the wealth of the nation;
6. To actively support the government, other cooperatives and people
oriented organizations, both local and foreign, in promoting cooperatives
as a practical means towards sustainable socio-economic development
under a truly just and democratic society;
7. To institutionalize a dynamic savings mobilization and capital build-up
schemes to sustain its developmental activities and long-term
investments, thereby ensuring optimum economic benefits to the
members, their families and the general public;
8. To implement policy guidelines that will ensure transparency, equitable
access to its resources and services, and promote the interests of the
members; and
9. To adopt such other plans as may help foster the welfare of the members,
their families and the community.
Article IV
Powers and Capacities
That the powers, rights and capacities of this cooperative are those
prescribed under Article 9 of Republic Act 9520.
1. To the exclusive use of its registered name;
2. To sue and be sued;
3. Of succession;
4. To amend its articles of cooperation in accordance with the provisions of
RA 9520;
5. To adopt by-laws not contrary to law, morals or public policy, and to
amend and repeal the same in accordance with RA 9520;
6. To purchase, receive, take or grant, hold, convey, sell, lease, pledge,
mortgage, and otherwise deal with such real and personal property as the
transaction of the lawful affairs of the cooperative may reasonably and
necessarily require, subject to the limitations prescribed by law and the
Constitution;
7. To enter into division, merger, or consolidation, as provided under RA
9520;
8. To form subsidiary cooperatives and join federations or unions, as
provided in this Code;
9. To avail of loans, be entitled to credit and to accept and receive grants,
donations and assistance from foreign and domestic sources subject to the
conditions of said loans, credits, grants, donations or assistance that will not
undermine the autonomy of the cooperative. The Authority, upon written
request, shall provide necessary assistance in the documentary requirements
for the loans, credit, grants, donations and other financial support;
10. To avail preferential rights granted to cooperatives under RA 7160,
otherwise known as the Local Government Code, and other laws,
particularly those in the grant of franchises to establish, construct, operate
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and maintain ferries, wharves, markets or slaughters houses and to lease


public utilities, including access to extension and on-site research services
and facilities related to agriculture and fishery activities; and
11. To exercise such other powers granted under RA 9520 or necessary to
carry out its purposes as stated in this articles of cooperation.
Article V
Term of Existence
That the term for which this Cooperative shall exist is Fifty (50 ) years
from the date of its registration with the Cooperative Development Authority.
Article VI
Common Bond and Field of Membership
That the common bond of membership of this Cooperative is residential
and, shall be open to all natural persons who are all Filipino citizen, of legal
age, with the capacity to contract and possess all the qualifications and none of
the disqualifications provided for in the By-laws and this Articles of
Cooperation.
Article VII
Area of Operation
That the membership of this Cooperative shall come from the City of
Alaminos. Its principal office shall be located at Montemayor Bldg. Marcos
Avenue, Palamis, Alaminos City.

Article VIII
Name and Address of Cooperators
That the name and complete postal address of the cooperators are as
follows:
1.
2.
3.

NAME
BLESSELDA V. DE OCAMPO

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POSTAL ADDRESS
POBLACION, ALAMINOS CITY

Article IX
Board of Directors
That the number of directors of this Cooperative shall be SEVEN (7) and
the name and address of the directors who are to serve until their successors
shall have been elected and qualified as provided in the by-laws are:

1.
2,
3.
4.
5.
6.
7.

Renato B. Reyes
Blesselda V. De Ocampo
Marcelo L. Yambao
Ma. Corazon R. Montemayor
Teresita P. Celino
Bashier M. Macasindil
Cecilia S. Abarra
ARTICLE X
Capitalization

That the Authorized Share Capital of this Cooperative is Five Million


PESOS, (Php5,000,000.00), divided into Forty Thousand (40,0000) common
shares with a par value of One Hundred Pesos (Php100) per share, and Ten
Thousand (10,0000 preferred shares with a par value of One Hundred Pesos
(Php 100) per share.
ARTICLE XI
Subscribed and Paid-up Share Capital
That of the authorized share capital, the amount of
_______________________________________(Php________)
has
been
subscribed,
and
____________________________________________
(Php________) of the total subscription has been paid by the following
members-subscribers:
NAMES

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NO. OF
SUBSCRIBED
SHARES

AMOUNT OF
SUBSCRIBED
SHARES

NO. OF
PAID-UP
SHARES

AMOUNT
PAID-UP
SHARES

ARTICLE XII
Arbitral Clause Any dispute, controversy or claim arising out of or
relating to this Articles of Cooperation, the cooperative law and related rules,
administrative guidelines of the Cooperative Development Authority, including
intercooperative, inter-federation disputes and related concerns, and any
question regarding the existence, interpretation, validity, breach or termination
or the business relationship shall be exclusively referred to and finally resolved
by voluntary arbitration under the institutional rules promulgated by the
Cooperative Development Authority, after compliance with the conciliation or
mediation mechanisms embodied in the applicable bylaws and in such other
pertinent laws.
BE IT KNOWN THAT:
__________________________ has been elected as Treasurer of this
Cooperative to act as such until her/his successor shall have been duly
appointed and qualified in accordance with the by-laws. As such Treasurer,
he/she is authorized to receive payments and issue receipts for membership
fees, share capital subscriptions and other revenues, and to pay obligations for
and in the name of this Cooperative.
IN WITNESS WHEREOF, we have hereunto affixed our signatures
opposite our names this ________ day of _______ in _______________,
Philippines. Name of Cooperators Signature
SIGNED IN THE PRESENCE OF:
____________________________
Signature Over Printed Name

____________________________
Signature Over Printed Name

ACKNOWLEDGMENT
Republic of the Philippines )
Prov./City/Mun. of __________________) S.S.
Before me, a Notary Public for and in the Province/City/Municipality of
_______________________ on this ________ day of _________________,
20__ the following persons personally appeared with their proof of identity as
indicated opposite their respective names:
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NAME

CTC NUMBER

DATE ISSUED PLACE


ISSUANCE

OF

All known to me to be the same persons who executed the foregoing


Articles of Cooperation, and acknowledged to me that the same is their free will
and voluntary deed. This instrument known as Articles of Cooperation consists
of ______ pages including this page where the acknowledgment is written
signed by the parties and their instrumental witnesses on each and every page
thereof.
WITNESS my hand and seal this day and place first above mentioned.
Notary Public Doc. No. : ____________
Page No.: _____________
Book No.: _____________
Series of ____________

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