"(3) The members of the board of directors shall not hold any other position directly involved in the day to day operation and management of the cooperative. 32. "(2) Any person who willfully attempts in any manner to evade or defeat tax in violation of the provisions of Articles 60 and 61 of this Code shall in addition thereof, be punished by a fine of not less than Thirty thousand pesos (P30,000.00) but not more than One hundred thousand pesos (P100,000.00) and suffer imprisonment of not less than two (2) years but not more than four (4) years: Provided, That the conviction or acquittal obtained under this Article shall not be a bar to the filing of a civil suit for the collection of taxes; "(3) Direct or indirect violation or circumvention of the provisions of Articles 60 and 61 of this Code committee by any public official or employee of any bureau, office or agency of the government that deprives, diminishes or in any manner hinders or restricts any duly registered cooperative from the full enjoyment of the exemption from the payment of the taxes, fees and charges enumerated therein, shall upon conviction, suffer a penalty of not less that one (1) year but not more than five (5) years imprisonment or a fine in the amount of not less than Five thousand pesos (P5,000.00) or both at the discretion of the court and shall further be disqualified to hold any other office; "(4) Direct or indirect interference or intervention by any public official or employee into the internal affairs of a cooperative of which he is not a member, such as, but not limited to, the following: "(a) Influencing the election or appointment of officers, directors, committee members and employees through public or private endorsement or campaign for or against any person or group of persons; "(b) Requiring prior clearances for any policy or decision within the cooperative; "(c) Requesting or demanding for the creation of positions or organizational units, or recommending any person for appointment, transfer, or removal from his position; or. 1. Collection of Questionnaire forms and canvassing of Votes by the cooperative's Election Committee. Which of the following statements about cooperatives is true? "ART. Technical Plan - shall refer to all technical documents required in planning a housing project namely, the bar chart and construction schedule, systematic development plan, the architectural and detailed engineering and housing design, contract documents, technical and material specification. The Voluntary Arbitrator/Arbitrator shall arrange the taking of stenographic notes/transcript of the testimony when one or more parties request such a record, and such party or parties thereof assume payment of the cost. "ART. It has been in operation for at least two (2) years and has incurred no losses for the two (2) preceding years of operation. (18) Consolidation - shall refer to a union of two or more existing cooperatives belonging to the same category to a form a new cooperative called the consolidated cooperative. D) Courts never treat cooperatives like a. Enforcement/Execution of Decision/Award. 129. 7653 as may be deemed appropriate to financial service cooperatives. Should such conciliation-mediation proceedings fail, the matter may be settled through voluntary arbitration or in court of competent jurisdiction. Section 4. Section 7. Section 3. Cooperatives registered under this Code shall be subject to an annual financial, performance and social audit. (37) Mediation - shall refer to the process in which a mediator, selected by the disputing parties, facilities a communication and negotiation, and assists the parties in reaching a voluntary agreement regarding a dispute. It cannot be implemented in the Western countries because it always benefits the supplier It requires all parts and subassemblies to be purchased from the same supplier It cannot be implemented in Western countries . The dissolved cooperative shall continue to exist for three (3) years from the issuance of the Order of Dissolution. Electric Cooperative intending to register with the Authority shall file their application with the CDA Extension Office, which shall have jurisdiction over the said cooperatives upon approval of their registration. 2. Suspension or Revocation of Certificate of Authority. 7. Internal Control including Inventory System, H. General Manager / Chief Executive Officer, 6. A financial service cooperative is a financial organization owned and operated by its members and authorized to provide the following service, exclusively to its members: "(a) The functions of credit cooperatives and other cooperatives, including multipurpose cooperatives, that provide savings and credit to their members, and"(b) Other financial services subject to regulation by the BSP. FOR THE BOARD OF ADMINISTRATORSCOOPERATIVE DEVELOPMENT AUTHORITY. All of the followin $14.99, For each item that follows, indicate whether a debit or a credit applies. They may, however, re-apply as regular members after two (2) years. "ART. Refund of Share Capital. 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. If the remaining assets is not sufficient to pay the full share capital contribution of the members, the distribution shall be done in proportion to their capital. Autonomy and Independence - Electric Cooperatives are autonomous, self-help organizations controlled by their members. "ART. 10. Filling. Section 7. Which of the following statements about the taxation of partnerships is true? (b) Bureau means the Bureau of Labor Relations and/or the Labor Relations Divisions in the regional offices established under Presidential Decree No. What is cooperative federalism? 132. Huston has _____ skills. - A cooperative may invest its capital in any of the following: "(a) In shares or debentures or securities of any other cooperative; "(b) In any reputable bank in the locality, or any cooperative; "(c) In securities issued or guaranteed by the Government; "(d) In real state primarily for the use of the cooperative or its members; or. Articles of Cooperation and By-laws; and. Settlement of Disputes. b.The cash payment to the buyer is recorded. The Board of Directors shall act within thirty (30) days from receipt thereof whether to grant or deny said petition. 3. We hope the given NCERT MCQ Questions for Class 12 Economics Chapter 6 Rural Development with Answers Pdf free download will help you. The net surplus of every cooperative shall be distributed as follows: "(1) An amount for the reserve fund which shall be at least ten per centum (10%) of net surplus: Provided, That, in the first five (5) years of operation after registration, this amount shall not be less than fifty per centum (50%) of the net surplus: "(a) The reserve fund shall be used for the stability of the cooperative and to meet net losses in its operations. Which one of the following statements is true about a . Requirements for Recognition of Laboratory Cooperative. 110. The most common form of business organization is the: A type of business entity that provides liability protection but is taxed like a partnership is a: A _____ is when two or more companies form a special entity to undertake a specific project, usually for a specific period of time. Undertaking to comply with the auditing and accounting standards prescribed by the Authority; 9. "Any newly organized primary cooperative may be registered as multipurpose cooperative only after compliance with the minimum requirements for multipurpose cooperatives to be set by the Authority. a. _____ planning is short-range, detailed planning that is based on long-range planning. Section 6. Notwithstanding the provisions of existing laws, the net surplus of cooperatives shall be determined in accordance with its bylaws. In the case of a public official or employee, the offender shall upon conviction, suffer the accessory penalty of temporary absolute disqualification. A financial service cooperative shall have the two (2) types of members: "(1) Regular members, who are natural persons; and. 92. Agrarian Reform Cooperative may lease public lands for a period not exceeding twenty five (25) years, subject to renewal for another twenty five (25) years only, provided the application for renewal shall be made one (1) year before the expiration of the lease and such lease shall be for the exclusive use and benefit of the beneficiaries and marginal farmers subject to the provisions of the CARP, as amended.. Answer:Profits are shared equally amongst members. 26. He has arranged a business loan with terms that guarantee that he can borrow up to $30,000 whenever he needs it within the next year. Section 12. Section 23. WebARTICLE 212. principles of language teaching ppt; best hvac systems 2020 consumer reports The Articles of Cooperation and By-Laws. PROSPERO C. NOGRALESSpeaker of the House of Representatives, (Sgd.) Book of Accounts. The names, nationality, birthdates, and postal addresses of the cooperators; 7. The rest of the provisions of this Code shall apply to them insofar as the same are not inconsistent with the provisions of this Chapter. Section 10. Section 7. Social Audit Report including its program of activities in pursuance of its socio-civic undertakings showing its achievements and end of every fiscal year; 4. Cooperatives increase their members buying power. Those provided under Art. Disloyalty of a Director. He coordinates with other plant managers and manages lower-level managers. Provided, That such refund shall not be made if upon such payment the value of the assets of the cooperative would be less than the aggregate amount of its debts and liabilities exclusive of his/her share capital contribution. Section 3. BFAD - shall refer to Bureau of Food and Drugs. The Voluntary Arbitrator/s shall have the following powers/authority: a. 47. 22. Effects of Merger and Consolidation. In compliance with the referendum as a voting procedure, the required number of votes for registration with the Authority shall be twenty percent (20%) of all members in good standing. He wants to call his players and coaches together, generate alternatives, and come up with a solution by mutual agreement and vote. The Party who filed the complaint shall be called the "Complainant/s" and the Party complained of shall be called the "Respondent/s". 8. It generates a common pool of funds in order to provide financial assistance and other related financial services to its members for productive and provident purposes. The women share the responsibilities of running the business (called Bread & Butter) as well as its profits equally. No. Electric Cooperative Deemed Registered under Art. savannas Separability. WebWhich of the following statements is true about cooperatives? Amendments of Existing Articles of Cooperation and By-laws. Said Committee shall likewise be organized within ninety (90) days from the receipt of the rules and functions formulated by the National Committee convene every quarter to discharge its functions and appoint a Secretary from among its members. The proposed housing project of the cooperative shall have the following features as certified by the NHA: 1. 8. Therefore, she should have: Which of the following statements about cooperatives is true? Notwithstanding the provisions of any law or regulation to the contrary, such cooperatives dealing with nonmembers shall enjoy the following tax exemptions: "(1) Cooperatives with accumulated reserves and undivided net savings of not more than Ten million pesos (P10,000,000.00) shall be exempt from all national, city, provincial, municipal or barangay taxes of whatever name and nature. 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. Officers of the cooperative shall be required to undergo necessary training conducted by cooperatives, Federations and/or other trainers or training institutions duly accredited by the Authority. "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. To submit annual accomplishment report to the Authority. Section 9. Best describes a: a. Patron b there has been practiced in the US 1860! Powers of the General Assembly. Langton is likely to get assistance from the commercial cleaning franchisor in which of the following areas? Section 12. The said union or federation shall submit to the Authority and to its contributing cooperatives the following schedules: "(i) List of cooperatives which have remitted their respective Cooperative Education and Training Funds (CETF); "(ii) Business consultancy assistance to include the nature and cost; and. 122. All of the following statements about cooperative federalism are TRUE except: A. "ART. Share Capital shall receive a strictly limited Rate of Interest. The Proprietary Lease -Spells out the number of shares a Buyer will own and states that those shares entitle him to occupy a certain space and have access to the building facilities. The specific issue/s or dispute/s to be submitted for resolution; 3. Bonding of Accountable Officers. 269, as amended which opt not to register with the Authority are allowed to retain the word cooperative in their registered names: Provided, That they shall not be entitled to the benefits and privileges under this Code. Membership in Water Service Cooperative is composed of two kinds: a. ||h. - Duly registered cooperatives under this Code which do not transact any business with non-members or the general public shall not be subject to any taxes and fees imposed under the internal revenue laws and other tax laws. Each member of a primary cooperative shall have only one (1) vote. Which of the following statements about a cooperative group is true? 119. Cooperatives are owned and controlled by members. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. Pele Arnaz is a plant foreman for a generator manufacturer. 9. "(8) Any security issued by cooperatives shall be exempt from the provisions of the Securities Act provided such security shall not be speculative. Section 4. No cooperative or method or act thereof which complies with this Code shall be deemed a conspiracy or combination in restraint of trade or an illegal monopoly, or an attempt to lessen competition or fix prices arbitrarily in violation of any laws of the Philippines. Every store is divided into about eight functional teams: An employee is hired provisionally to a store team. - Should any part of this code be declared unconstitutional, the validity of remaining provision hereof shall remain in full and effect. Assignment of Share Capital Contribution or Interest. Formulation of the Amendment/New Articles of Cooperation and By-laws; 5. Investment Program. Suppletory Laws. 1. "ART. (1) Notwithstanding the provisions of existing laws, rules and regulations to the contrary, but subject to the prior claim of the Authority, any debt due to the cooperative from the member shall constitute a first lien upon any raw materials, production, inputs, and products produced; or any land, building, facilities, equipment, goods or services acquired and held, by such member through the proceeds of the loan or credit granted by the cooperative to him for as long as the same is not fully paid. connect with consumers. A) Cooperatives may be incorporated or unincorporated, however, However, in cases where the issue/s fall within the jurisdiction of the DOTC, LTFRB, LTO, MARINA, and OTC the same shall be referred to the said agencies and shall be resolved in accordance with their regulations. "(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. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. Pearson was singled out for the relentless demands that he put on his people. To hold hearings and to receive evidence necessary to resolve the issue/s subject of the dispute. "ART. 127. The dissolution of either cooperative shall not affect the existence of the other. If the objection or opposition is meritorious, in order not to prejudice the interest of the third party, the Authority shall cause the deferment or disapproval of the registration of the new cooperatives. "ART. Cooperatives intending to engage in insurance, insurance like, and other similar activities shall register with the Authority and secure a Certificate of Authority from the Commission. Capitalization. The Certificate shall be conclusive evidence that the Laboratory Cooperative therein mentioned is duly recognized unless such recognition has been earlier revoked. The land proposed for housing is classified as a safe and buildable area and not affected by any government infrastructure project, agricultural or industrial reserve. Printing and Distribution. 86. The Election Committee shall: a. Formulate election rules and guidelines and recommended to the General/Representative Assembly for approval; b. Lease Agreement, Deed of Donation, Deed of Sale, etc. 12. Implementing Rules and Regulations. 2264 and House Bill No. We reviewed their content and use your feedback to keep the quality high. 39. "Unless otherwise provided in the bylaws, the board, in case of a vacancy in the committees, may call an election to fill the vacancy or appoint a person to fill the same subject to the provision that the person elected or appointed shall serve only for the unexpired portion of the term. Contents of Plan of Merger or Consolidation. 109. Objectives and Goals of a Cooperative. Which of the following statements is true of not-for-profit organizations? Provided, that it shall not be withdrawn and should not be used in offsetting obligations whether past due or current while the membership subsists. Articles 26, 27, 28, 29, 30, 31 and 32 of Chapter III on Membership of the same Code are hereby renumbered and amended to read, as follows: "ART. 55. Any applicant Dairy Cooperative shall file its duly accomplished application for registration with the VDA Extension Office, which shall have jurisdiction over the said cooperative. These financial service cooperative federations may be deputized by the Authority as the supervisor of their members, and they shall have the following functions: "(a) Develop standards and provide services for the benefit of its affiliates and their members in accordance with the rules and regulations of the Authority; "(b) Define common objectives and coordinate activities for the financial service cooperative federation; "(c) Establish and administer funds such as liquidity fund, loan fund, investment fund, stabilization fund and such other funds; "(d) Establish a savings guarantee system for the protection of their affiliates' member-depositors within three (3) years from the approval of this Code; "(e) Exercise on-site and off-site supervisory power over its members; "(f) Provide remedial assistance to its members concerning their operations and management; "(g) Act as the liquidator and when applicable, sequester properties to satisfy an obligation secured by a mortgage when authorized by the Authority; and. "ART. It requires few suppliers for each item or service. 140 of the Code. Upon the receipt of the notice, the Board of Directors shall act on the resignation letter within sixty (60) days otherwise, the resignation shall be deemed approved. Election of Sector, Chapter, or District Representative or Delegate. PCG - shall refer to the Philippine Coast Guard. WebAll of the following statements about cooperative federalism are TRUE except: A. Chapter XV as amended shall now read, as follows: "ART. Sub-transmission Assets - shall refer to the facilities related to the power delivery service below the transmission voltages and based on the functional assignment of assets, including, but not limited to stepdown transformers used solely by load customers, associated switchyard/substation, control and protective equipment, reactive compensation equipment to improve customer power factor, overhead lines, and the land where such facilities/equipment are located. "Any sum recovered on items previously charged to the reserve fund shall be credited to such fund. Legal Basis. 29. The auditor is not liable to any person in an action for defamation based on any act, done, or any statement made by him in good faith in connection with any matter he is authorized or required to do pursuant to this Code. 9520) and by the concerned government agency. "ART. The Authority shall issue guidelines concerning the accreditation and de-listing of Voluntary Arbitrator/s as well as the list of qualified Voluntary Arbitrator/s. 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. 2. All of the following statements about cooperative federalism are TRUE except: A. Constitution of the Board of Liquidators/Trustees. 9520, otherwise known as the Philippine Cooperative Code of 2008, the Cooperative Development Authority in consultation with NHA, HDMF, SSS, LBP, and concerned cooperative sector hereby promulgates the following rules and Regulations for the proper guidance and compliance of Housing Cooperatives. Section 7. Such other function as the need arises. As a rule, cooperatives are allowed to establish their branch offices and cooperative satellite offices. Convert all assets of the cooperative into cash; 4. 32. This Rule shall also cover new distribution utilities that will register with the Authority. The resignation or removal as well as the appeal of the sector, chapter, or district Representative or Delegate. Bfad - shall refer to the Philippine Coast Guard describes a: a. Patron there. The net surplus of cooperatives shall be determined in accordance with its bylaws about a within thirty ( ). 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The Certificate shall be credited to such fund and sewerage System run as efficiently and profitably as appeal... 'S Election Committee US 1860 and social audit powers/authority: a features as certified by the cooperative shall not the. Shall now read, as follows: `` ART except: a the accreditation and of... To establish their branch offices and cooperative satellite offices ( b ) Bureau means Bureau...