ARTICLES OF COOPERATION
OF
PMA CAVALIERS COOPERATIVE
(PCC)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned Filipino citizens, all of legal age and residents of the Philippines,
have on this day voluntarily agreed to form a primary non-agricultural multi-purpose
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
PMA CAVALIERS COOPERATIVE (PCC)
ARTICLE II
Objectives
That the objectives for which this Cooperative is formed are:
Primary
1. To pool the resources of the PMA cavaliers who are the members of the PHILIPPINE
MILITARY ACADEMY ALUMNI ASSOCIATION INC. (PMAAAI) and their
friends and associates, for the establishment of an alumni center to achieve the
following objectives and purposes:
a. To provide the PMA cavaliers, cadets of the Philippine Military Academy (PMA) and
other affiliate groups, a venue for the conduct of leadership training, seminars and
lectures on business management, entrepreneurship and other ventures that will open their
eyes to new careers outside the military;
b. To provide the PMA cavaliers decent but affordable billeting accommodations, and a
meeting place where they can socialize and reminisce with each other, past experiences
as cadets and as officers in the field, in order to foster closer camaraderie among
themselves;
c. To answer the need of PMA for a venue for the conduct of academic seminars, lectures
and courses to upgrade the proficiency of professors, instructors and the PMA staff
officers, as the facilities such as the auditorium, function rooms, lecture hall, library.
restaurant and billeting rooms are made available to PMA.
2 To organize and conduct seminars and/or professional lectures, post graduate
courses, leadership training, seminars for entrepreneurship and other educational
endeavours.
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3 To provide a Savings and Loan Facility to encourage the members to save and invest
and to extend to them provident and/or consumption loans at affordable interest rates.
4 To engage in agri-business and in the business of trading goods, services and real estate.
Secondary
In addition to the objectives and purposes provided for under Republic Act No. 6938,
which are hereby made an integral part of this Articles of Cooperation, this Cooperative adopts
the following secondary objectives.
1. To actively support the government and other concerned organizations, both local
and foreign, in promoting cooperatives as a practical means towards sustainable socio-economic
development under a truly just and democratic society;
2. To develop the knowledge of the members on the principles and practices of cooperatives
to
enable them to actively and competently participate in managing the affairs of the Cooperative;
3. To institutionalize a dynamic savings mobilization and capital build-up schemes to
sustain its development activities and long-term investments, thereby ensuring optimum
economic benefits to the members, their families and the general public;
4. To implement policy guidelines that will ensure transparency, equitable access to its
resources and services, and promote the interests of the members; and
5. To adopt such other plans as may help foster the welfare of the members, their
families and the community.
ARTICLE III
Area of Operation
That this Cooperative shall operate within membership of Philippine Military Academy
Alumni Association, Inc. and its principal office shall be located in PMA Alumni Center, Camp
Aguinaldo Quezon City, 1000 (District No. 3)
ARTICLE IV
Term of Existence
That the term for which this Cooperative shall exist is 50 years from the date of its
registration with the Cooperative Development Authority.
ARTICLE V
Common Bond of Membership
That the common bond of membership of this Cooperative is associational and shall be
open to all natural persons who are Filipino citizens, of legal age, with the capacity to contract
and possess all the qualifications and none of the disqualifications provided for in the By-laws of
PMAAAI.
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ARTICLE VI
Name, Nationality and Address of Cooperators
That the name, nationality and address of the cooperators are as follows:
NAME NATION POSTAL ADDRESS
ALITY
1. CORONADO P MUÑASQUE Filipino Twin Towers, Wack Wack Road, Mandaluyong
2.PROTACIO L DEPAKAKIBO JR Filipino 141 Conrad Street, Moonwalk 1 Vill.Parañaque ty
3. PATERNO D LOMONGO Filipino 17 Greystone, White Plains 1110 Q. C.
4. ANGELO C QUEDDING Filipino 32 Xavierville Ave. 1108 Loyola Heights Q C
5.DONATO L GUZMAN Filipino 13 Cauliflower Street. Valle Verde V. Pasig
6. JOSE G GUILLEM Filipino 804 Mercury St. Aeropac Subd. Parañaque
7. JOSE C SORRETA Filipino 17 Maranao St., La Vista Subd. Q.C.
8. ROSAURO M BORROMEO Filipino 13 Juna Ave., Matina, Davao City
9. BASILIO G MORETO Filipino 4 Temelrc CirSonoma CA USA
10. SAMUEL B. RAMOS Filipino 72 Kalantiaw Street Project 4, Q.C.
11. BIENVENIDO G GOROSPE Filipino 22 Acuña Dr, Tandang Sora, 1116 Q.C.
12. SALVADOR Z RAMIRO Filipino 84 Dao St, Marikina Hts, Marikina City
13. LOREÑO V ALDEA Filipino 16 Ilang-Ilang St, Manuela Subd, Las Piñas City
14. ALFONSO C PINTO Filipino 1741 Felix Huertas St Sta Cruz, Manila
15. PEDRO M RESURRECCION Filipino 10 Martinez St, Miranda Subd, Tandang Sora, QC
16. FELICIANO M GACIS Filipino 64 Dizon St, Industrial Valley, Marikina City
17. RODOLFO A ECARMA Filipino Aguinaldo St, Katarungan Vill Mayamot, Antipolo
18. RODOLFO M PUNSALANG Filipino 14 Pinesville, White Plains, QC
19. CESAR D TEMPLO Filipino 4 Don Rafael St, Don Enriquez Capitol Hills, QC
20. EMILIO S LUGA Filipino 14 K Casal VillageMabolo, Cebu City
21. MANUEL R GUEVARA Filipino 26 Wisdom St. Peace Valley Village, Lahug Cebu
22. JULIAN B BALLESTEROS Filipino Pagadian City, Zamboanga del Sur
23. FRANCISCO V GATMAITAN Filipino 4 Bluebird St. Greenmeadows Q.C.
24. SALVADOR M MISON Filipin 73 Times St. West Triangle Q.C.
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25. ROLAND I PATTUGALAN Filipino 20 Jasmin St. Roxas District Q.C.
26. MARIANO R SANTIAGO Filipino 17 Benito Street, BF Homes, QC
27. CONRADO K. TOLENTINO Filipino 18 Biscayne St., Fairview Park Subd., Q.C.
28 .LEOPOLDO L MALIGALIG Filipin Superintendents Quarters, Ft del Pilar, Baguio City
o
29. ARNOLD Y DEPAKAKIBO Filipin 141 Conrad St. Moonwalk Vill. Parañaque City
o
30. JOSE MARIA G SOLQUILLO Filipin L4, B83 Ph V AFPOVAI, Ft Bonifacio, Taguig City
o
31. JAIME C ECHEVERRIA Filipin 112 Valle Vista St, Better Living, Paranaque City
o
32. MANUEL R ESTRADA Filipin 608 Lovell St Moonwalk Village I Paranaque City
o
33. MANUEL B MARIANO Filipin 100 Green Meadows Ave Subdiv. Quezon City
o
34. GUILLERMO A PECACHE Filipin #1 Regalado Ext, Fairview , Quezon City
o
35. GREGORIO R VIGILAR Filipin Blk 52, Lot 23 Soldiers Hill, Muntinlupa City
o
36. ROMULO R CABANTAC SR Filipin 2681 Concord Lane, Brookside Hills, Cainta Rizal
o
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37. EMILIO P MELENDRES JR Filipin 32 Malipajo St, Valle Verde III Pasig City
o
38. CIPRIANO O LERON Filipin 1731 V Pagaspas St. Tanauan, Batangas
o
39. RAMON L RAFAEL Filipin 35 Soliven II Ext.Loyola Grand Villas, Quezon City
o
40. JOHN D LUGLUG Filipin Bayombong, Nueva Ecija
o
41. JOSE RENAN C SUAREZ Filipin 28 South Maya St, Phil Am Homes, Quezon City
o
42. ANSELMO S AVENIDO Filipin 183 Kaimito St., Valle Verde 2, Pasig City
o
43. ROGELIO I CALUNSAG Filipin Adm. Res. New PN Vill., Ft. Bonifacio, Taguig
o
44. RICHARD T RUFFY Filipin E14 JUSMAG Compound, Ft Bonifacio.Taguig
o
45. RAFAELITO R SACDALAN Filipin 36 Lima St, Cor Wellington, BF Homes, Las Pinas
o
46. HERMENEGILDO ONGKIKO Filipin 112 n. Hamilton Dr. 202 Beverly Hills, CA, USA
o
47. FLORELLO S ADRIANO Filipin 138 13TH Ave. Cubao, Quezon City
o
48. AGERICO N KAGAON Filipin 36 San Agustin St, Capitol Pasig City
o
49. HONORATO D DONATO Filipin 55B, 9thAve. Cubao, Quezon City
o
50. NOE S ANDAYA Filipin 170 Maginhawa St,Sikatuna Vill. Q.C.
o
51. RAYMUNDO L LOGAN Filipino 58 B Malakas St, Vluna, QC
52. NATIVIDAD T REDUBLO Filipino 1 Ponte St. Ma. Dela Paz Vill. Makati City
53. DULCE C. MUYARGAS Filipino 6 Laoag St. Alabang Hills. Muntinlupa City
54. ERLINDA V VILLAFLOR Filipino 8353 Maharlika Green Vill 1700 Paranque M.M.
55. AIDA C CABOBOY Filipino 88 Asset St, GSIS Village, Project 6, QC
ARTICLE VII
Board of Directors
That the number of directors of this Cooperative shall be eleven (11) and the name,
citizenship and residence of the founding directors who are to serve until their successors shall
have been elected and qualified as provided in the by-laws are:
NAME NATION POSTAL ADDRESS
ALITY
1. CORONADO P MUÑASQUE Filipino Twin Towers, Wack Wack Rd, Mandaluyong City
2. PATERNO D LOMONGO Filipino 17 Greystone, White Plains 1110 Q. C.
3. ANGELO C QUEDDING Filipino 32 Xavierville Ave. 1108 Loyola Heights Q C
4.DONATO L GUZMAN Filipino 13 Cauliflower Street. Valle Verde V. Pasig
5. JOSE C SORRETA Filipino 17 Maranao St., La Vista Subd. Q.C.
6. JOSE G GUILLEM Filipino 804 Mercury St. Aeropac Subd. Parañaque City
7. SALVADOR M MISON Filipino 73 Times St. West Triangle Q.C.
8. ROLAND I PATTUGALAN Filipino 20 Jasmin St. Roxas District Q.C.
9. .LEOPOLDO L MALIGALIG Filipino Ft del Pilar, Baguio City
10. FRANCISCO GATMAITAN Filipino 4 Bluebird St. Green Meadows Q. C.
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11. CONRADO K. TOLENTINO Filipino 18 Biscayne St., Fairview Park Subd., Q.C.
ARTICLE VIII
Capitalization
That the authorized Share Capital of this Cooperative is FIFTY MILLION PESOS
(P50,000,000.00) Philippine currency, divided into:
a. FOUR HUNDRED THOUSAND (400,000) common shares with a par value of
FORTY MILLION PESOS and
b) ONE HUNDRED THOUSAND (100,000) preferred shares with a par value of TEN
MILLION PESOS.
ARTICLE IX
Subscribed and Paid-up Share Capital
That at least twenty-five percent (25%) of the authorized share capital has been
subscribed and at least twenty-five percent (25%) of the total subscription has been paid by the
following members-subscribers:
A. Common Share Capital Subscribers
NAME NO. OF AMOUNT NO. OF AMOUNT
SHARES OF SUB- SHARES OF PAID-UP
SUBSCRIBED SCRIPTION PAID-UP SUSCRIPTION
1. CORONADO P MUÑASQUE 10,000 P1,000,000.00 2500 P250,000.00
2.PROTACIO L DEPAKAKIBO 10,000 P1,000,000.00 2500 P250,000.00
JR
3. PATERNO D LOMONGO 10,000 P1,000,000.00 2500 P250,000.00
4. ANGELO C QUEDDING 10,000 P1,000,000.00 2500 P250,000.00
5.DONATO L GUZMAN 10,000 P1,000,000.00 2500 P250,000.00
6. JOSE C SORRETA 10,000 P1,000,000.00 2500 P250,000.00
7. JOSE G GUILLEM 10,000 P1,000,000.00 2500 P250,000.00
8. ROSAURO M BORROMEO 6,000 P600,000.00 1,500 P150,000.00
9. BASILIO G MORETO 6,000 P600,000.00 1,500 P150,000.00
10. SAMUEL A. RAMOS 5,000 P500,000.00 1,250 P125,000.00
11. BIENVENIDO G GOROSPE 2,000 P200,000.00 500 P50,000.00
12. SALVADOR Z RAMIRO 2,000 P200,000.00 500 P50,000.00
13. LOREÑO V ALDEA 2,000 P200,000.00 500 P50,000.00
14. ALFONSO C PINTO 2,000 P200,000.00 500 P50,000.00
15. PEDRO M RESURRECCION 2,000 P200,000.00 500 P50,000.00
16. FELICIANO M GACIS 2,000 P200,000.00 500 P50,000.00
17. RODOLFO A ECARMA 2,000 P200,000.00 500 P50,000.00
18. RODOLFO M PUNSALANG 2,000 P200,000.00 500 P50,000.00
19. CESAR D TEMPLO 2,000 P200,000.00 500 P50,000.00
20. EMILIO S LUGA 2,000 P200,000.00 500 P50,000.00
21. MANUEL R GUEVARA 2,000 P200,000.00 500 P50,000.00
22 JULIAN B BALLESTEROS 2,000 P200,000.00 500 P50,000.00
23. FRANCISCO GATMAITAN 400 P40,000.00 100 P10,000.00
24. SALVADOR M MISON 400 P40,000.00 100 P10,000.00
25. ROLAND I PATTUGALAN 400 P40,000.00 400 P40,000.00
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26. MARIANO R SANTIAGO 400 P40,000.00 100 P10,000.00
27. CONRADO K TOLENTINO 400 P40,000.00 100 P10,000.00
28. LEOPOLDO L MALIGALIG 400 P40,000.00 100 P10,000.00
29 ARNOLD Y DEPAKAKIBO 400 P40,000.00 400 P40,000.00
30. JOSE MARIA G SOLQUILLO 400 P40,000.00 400 P40,000.00
31. JAIME C ECHEVERRIA 400 P40,000.00 100 P10,000.00
32. MANUEL R ESTRADA 400 P40,000.00 400 P40,000.00
33. MANUEL B MARIANO 400 P40,000.00 400 P40,000.00
34. GUILLERMO A PECACHE 400 P40,000.00 100 P10,000.00
35. GREGORIO R VIGILAR 400 P40,000.00 400 P40,000.00
36. EMILIO P MELENDRES JR 400 P40,000.00 400 P40,000.00
37. ROMULO R CABANTAC SR 400 P40,000.00 400 P40,000.00
38. CIPRIANO O LERON 400 P40,000.00 100 P10,000.00
39. RAMON L RAFAEL 400 P40,000.00 400 P40,000.00
40. JOHN D LUGLUG 400 P40,000.00 400 P40,000.00
41. JOSE RENAN C SUAREZ 1,200 P120,000.00 300 P30,000.00
42. ANSELMO A AVENIDO 400 P40,000.00 400 P40,000.00
43. RODOLFO T CALUNSAG 2000 P200,000.00 500 P50,000.00
44. RICHARD T RUFFY 400 P40,000.00 400 P40,000.00
45. RAFAELITO R SACDALAN 400 P40,000.00 400 P40,000.00
46. HERMINIGILDO T ONGKIKO 400 P40,000.00 100 P10,000.00
47. FLORELLO S ADRIANO 400 P40,000.00 400 P40,000.00
48. AGERICO N KAGAON 400 P40,000.00 400 P40,000.00
49. HONORATO DONATO 400 P40,000.00 400 P40,000.00
50. NOE S ANDAYA 400 P40,000.00 100 P10,000.00
51. RAYMUNDO L LOGAN 400 P40,000.00 400 40,000.00
TOTALS 125.000 P12,500,000.00 36,350 P3,635,000.00
B. Preferred Share Capital Subscribers:
NAME NO. OF AMOUNT NO. OF AMOUNT
SUBSCRIBED OF SHARES PAID
SHARES SUBSCRIPTION PAID
1. NATIVIDAD T REDUBLO 2,000 P200,000.00 500 P50,000.00
2. DULCE C. MUYARGAS 2,000 P200,000.00 500 P50,000.00
3. ERLINDA V VILLAFLOR 2,000 P200,000.00 500 P50,000.00
4. AIDA CABOBOY 2,000 P200,000.00 500 P50,000.00
TOTALS 8,000 P800,000.00 2,000 P200,000.00
BE IT KNOWN THAT: PROTACIO L DEPAKAKIBO JR has been elected
as Treasurer of this Cooperative to act as such until his/her successor shall have
been duly elected/appointed and qualified in accordance with the by-laws. As
such Treasurer, he has been authorized to receive payments and issue receipts or
membership fees, share capital subscriptions and other revenues for and in the
name of this Cooperative.
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IN WITNESS WHEREOF, we have hereunto signed our names this 30TH
day March 2007 in Quezon City, Philippines.
NAME AND SIGNATURE OF COOPERATORS
PRINTED NAME SIGNATURE
1. CORONADO P MUÑASQUE
2.PROTACIO L DEPAKAKIBO JR
3. PATERNO D LOMONGO
4. ANGELO C QUEDDING
5.DONATO L GUZMAN
6. JOSE G GUILLEM
7. JOSE C SORRETA
8. ROSAURO M BORROMEO
9. BASILIO G MORETO
10. SAMUEL B. RAMOS
11. BIENVENIDO G GOROSPE
12. SALVADOR Z RAMIRO
13. LOREÑO V ALDEA
14. ALFONSO C PINTO
15. PEDRO M RESURRECCION
16. FELICIANO M GACIS
17. RODOLFO A ECARMA
18. RODOLFO M PUNSALANG
19. CESAR D TEMPLO
20. EMILIO S LUGA
21. MANUEL R GUEVARA
22. JULIAN B BALLESTEROS
23. FRANCISCO V GATMAITAN
24. SALVADOR M MISON
25. ROLAND I PATTUGALAN
26. MARIANO R SANTIAGO
27. CONRADO K. TOLENTINO
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28 .LEOPOLDO L MALIGALIG
29. ARNOLD Y DEPAKAKIBO
30. JOSE MARIA G SOLQUILLO
31. JAIME C ECHEVERRIA
32. MANUEL R ESTRADA
33. MANUEL B MARIANO
34. GUILLERMO A PECACHE
35. GREGORIO R VIGILAR
36. ROMULO R CABANTAC SR
37. EMILIO P MELENDRES JR
38. CIPRIANO O LERON
39. RAMON L RAFAEL
40. JOHN D LUGLUG
41. JOSE RENAN C SUAREZ
42. ANSELMO S AVENIDO
43. ROGELIO I CALUNSAG
44. RICHARD T RUFFY
45. RAFAELITO R SACDALAN
46. HERMENEGILDO ONGKIKO
47. FLORELLO S ADRIANO
48. AGERICO N KAGAON
49. HONORATO D DONATO
50. NOE S ANDAYA
51. RAYMUNDO L LOGAN
52. NATIVIDAD T REDUBLO
53. DULCE C. MUYARGAS
54. ERLINDA V VILLAFLOR
55. AIDA C CABOBOY
SIGNED IN THE PRESENCE OF:
__________________________ ____________________________
Signature Over Printed Name Signature Over Printed Name
ACKNOWLEDGMENT
Republic of the Philippines )
Metropolitan Manila ) S.S.
Quezon City )
.
Before me, a Notary Public for and in Quezon City on this 30th day of March, the
following persons personally appeared with their Community Tax Certificates as indicated
opposite their respective names:
NAME CTC. NO. DATE AND PLACE OF ISSUE
1. CORONADO P MUÑASQUE 05880911 2-14-07 Mandaluyong City
2.PROTACIO L DEPAKAKIBO 19275244 2-27-07 Paranaque City
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JR
3. PATERNO D LOMONGO 07534352 1-29-07 Quezon City
4. ANGELO C QUEDDING 21598409 3-16-07 Quezon City
5.DONATO L GUZMAN 47708822 2-10-07 Pasig City
6. JOSE G GUILLEM 12886859 1-06-07 Paranaque City
7. JOSE C SORRETA 2144458 2-15-07 Quezon City
8. SAMUEL B. RAMOS 02339392 1-10-07 Quezon City
9. BIENVENIDO G GOROSPE 06476630 8-14-06 Quezon City
10. ROSAURO M BORROMEO 18248690 3-6-07 Antipolo City
11. BASILIO G MORETO 18248691 3-6-07 Antipolo City
12. SALVADOR Z RAMIRO 06476630 12-05-06 Marikina City
13. LOREÑO V ALDEA 12886877 2-06-07 Paranaque City
14. ALFONSO C PINTO 04888716 1-16-07 Manila
15. PEDRO M RESURRECCION 21614038 3-27-07 Quezon City
16. FELICIANO M GACIS 02339594 1-10-07 Quezon City
17. RODOLFO A ECARMA 18248689 3-6-07 Antipolo City
18. RODOLFO M PUNSALANG 21598489 3-15-07 Quezon City
19. CESAR D TEMPLO 21406382 2-6-07 Quezon City
20. EMILIO S LUGA JR 22010298 1-30-06 Cebu City
21. MANUEL R GUEVARA 16456156 2-07-07 Cebu City
22. JULIAN B BALLESTEROS 16456178 2-07-10 Paranaque City
23. FRANCISCO V GATMAITAN 30713134 2-08-07 Quezon City
24. SALVADOR M MISON 20081860 1-20-07 Quezon City
25. ROLAND I PATTUGALAN 30713144 2-09-07 Quezon City
26. MARIANO R SANTIAGO 07534333 1-26-07 Quezon City
27. CONRADO K TOLENTINO 21598440 3-17-07 Quezon City
28. LEOPOLDO L MALIGALIG 47708844 2-12-07 Pasig City
29. ARNOLD Y DEPAKAKIBO 075609988 1-29-07 Quezon City
30. JOSE MARIA G SOLQUILLO 20081806 1-18-07 Quezon City
31. JAIME C ECHEVERRIA 22010273 1-28-06 Paranaque City
32. MANUEL R ESTRADA 16456165 2-07-07 Paranaque City
33. MANUEL B MARIANO 21413111 2-07-07 Quezon City
34. GUILLERMO A PECACHE 20894579 4-26-06 Caloocan City
35. GREGORIO R VIGILAR 19387119 3-12-07 Quezon City
36. ROMULO R CABANTAC SR 10952994 1-29-07 Cainta, Rizal
37. EMILIO P MELENDRES JR 00891819 1-09-07 Mandaluyong City
38. CIPRIANO O LERON 15260803 1-22-07 Tanauan, Batangas
39. RAMON L RAFAEL 21413156 2-08-07 Quezon City
40. JOHN D LUGLUG 21413129 2-09-07 Quezon City
41. JOSE RENAN SUAREZ 30713149 2-10-07 Quezon City
42.ANSELMO S AVENIDO. 20081877 1-21-07 Quezon City
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43. ROGELIO I CALUNSAG 30713149 2-10-07 Quezon City
44. RICHARD T RUFFY 07534333 1-26-07 Quezon City
45. RAFAELITO R SACDALAN 00891856 1-12-07 Mandaluyong City
46. HERMINIGILDO T ONGKIKO 21413140 2-15-07 Quezon City
47. FLORELLO S ADRIANO 21413138 02-28-07 Quezon City
48. AGERICO N KAGAOAN 47708890 2-15-07 Pasig City
49. HONORATO D DONATO 12886869 1-08-07 Paranaque City
50. NOE S ANDAYA 2144477 2-16-07 Quezon City
51. RAYMUNDO L LOGAN 02339396 1-11-07 Quezon City
52. NATIVIDAD T REDUBLO 24318018 2-28-06 Makati City
53. DULCE C. MUYARGAS 01523792 1-25-07 Parañaue city
54. ERLINDA V VILLAFLOR 01523791 1-25-07 Paranaque City
55. AIDA C CABOBOY 21433700 3-05-07 Quezon City
all known to me to be the same persons who executed the foregoing Articles of Cooperation and
who acknowledged to me that the same is their free will and voluntary deed. This instrument
consists of 8 pages including this page where the acknowledgment is written.
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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TREASURER’S AFFIDAVIT
Republic of the Philippines )
Metropolitan Manila ) S.S.
Quezon City )
I, PROTACIO L DEPAKAKIBO JR after having been duly sworn to in accordance
with law, do hereby depose and say:
1. That I am the duly elected/appointed Treasurer of the PMA CAVALIERS
COOPERATIVE to act as such until my successor shall have been elected/appointed and
qualified in accordance with the By-laws of the Cooperative;
2. That as such Treasurer, I hereby certify that at least twenty-five percent (25%) of the
authorized share capital of FIFTY MILLION (P50,000,000.00) of the Cooperative has
been subscribed;
3. That at least twenty-five percent (25%) of the total subscription of TWELVE
MILLION FIVE HUNDRED THOUSAND PESOS (P12,500,000.00) has been paid and
received by me in cash, as follows:
a) Common Shares-THREE MILLION SIX HUNDRED HIRTY
FIVE THOUSAND PESOS P3,635,000.00
b) Preferred Shares- TWO HUNDRED THOUSAND PESOS P 200,000.00
c)Total- THREE MILLION EIGHT HUNDRED THIRTY
FIVE THOUSAND PESOS P3,835,000.00
4. That the total membership fees paid is Fifty Five Thousand Pesos
P55,000.00.
PROTACIO L DEPAKAKIBO JR
Treasurer
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SUBSCRIBED AND SWORN TO before me this 30th day of March 2007 in Quezon
City, Philippines, affiant exhibited to me his Community Tax Certificate No. 19275244issued on
February 27, 2007 in Paranaque City, Philippines.
______________________________
Notary Public
Doc. No. ________
Page No. ________
Book No. ________
Series of ________
BY-LAWS
OF THE
PMA CAVALIERS COOPERATIVE (PCC)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned Filipino citizens, all of legal age and residents of the Philippines,
representing at least majority of the members of the PMA Cavaliers Cooperative (PCC) a
primary non-agricultural multi-purpose cooperative, do hereby adopt the following code of By-
laws.
ARTICLE I
Objectives
Section 1. Objectives. The objectives and purposes of this Cooperative are those set
forth in its Articles of Cooperation.
ARTICLE II
Membership
Section 2. Membership. This Cooperative shall have regular, associate and honorary.
memberships
A Regular member is one who is entitled to all the rights and privileges of membership.
Associate and honorary members are those who have no right to vote and be voted upon and
shall be entitled only to such rights and privileges provided in this by-laws. 1
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Section 3. Qualifications for Membership. Regular membership. The regular
membership of this Cooperative is open to any natural person, Filipino citizen, of legal age, with
capacity to contract, and has the following qualifications:
a). Shall be a member in good standing of the Philippine Military Academy Alumni
Association Inc. (PMAAAI).
b) Must subscribe to at least the prescribed minimum share capital subscription and pay
at least the prescribed minimum paid up share capital subscription.
c) Completed the prescribed pre-membership education training;
d) Undertake to uphold the By-laws, policies, guidelines, rules and regulations
promulgated by the Board of Directors and the general assembly;
Associate membership. The associate membership of this Cooperative shall be open to
any natural person, Filipino citizen, of legal age, with capacity to contract, and has the following
qualifications:
a) Friends and associates of the members of PMAAAI who are supporters of the
Cooperative by way of significant donation of funds, infrastructures, goods or services.
b). Must be a widow of a deceased member of PMAAAI,
c) Must be the spouse of a regular member whose membership was automatically
terminated by reason of death.
d) Must subscribe to at least the prescribed minimum share capital subscription and pay
at least the prescribed minimum paid up share capital subscription.
e) Complete the prescribed pre-membership education training;
f) Undertake to uphold the By-laws, policies, guidelines, rules and regulations
promulgated by the Board of Directors and the general assembly;
Honorary membership- The Board shall promulgate the criteria and qualifications for the
selection and conferment of honorary membership.
Section 4. Application for Membership. An applicant for regular or associate
membership shall file a duly accomplished form with the Board of Directors who shall accept or
deny it within 30 days from the date of filing. The Board of Directors shall devise a form for the
purpose which shall, aside from the personal data of the applicant, include the duty of a member
to participate in all capital build-up and savings mobilization programs of the Cooperative and
such other information as may be deemed necessary.
No application for membership shall be given due course if not accompanied with a
membership fee of ONE THOUSAND PESOS (P1,000.00) which shall be refunded to the
applicant in case of rejection, and an accomplished share capital subscription agreement
Section 5. Minimum Share Capital Subscription. Regular membership. An applicant for
regular membership shall subscribe at least FOUR HUNDRED (400) Common shares and pay
the value of at least ONE HUNDRED (100) shares as a condition to the approval of his
membership.
Associate Membership. An applicant for associate membership shall subscribe at least
FOUR HUNDRED (400) Preferred Shares and pay the value of at least ONE HUNDRED (100)
shares as a condition to the approval of his membership over and above his donation
.
However, no regular or associate member shall own or hold more than 20 percent of the
total subscribed share capital of the Cooperative. The Board of Directors shall issue membership
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certificate and subscription agreement with such terms and conditions as may be deemed
equitable.
Section 6. Appeal. An applicant whose application was denied by the Board of Directors
may appeal to the general assembly by giving notice to the Secretary of the Cooperative within
thirty (30) days before the next General Assembly meeting, whose decision on the matter shall be
final.
Section 7. Duties and Responsibilities of a Member. Every member shall have the
following duties:
a) Pay the installment of his share capital subscription as it falls due and to participate in
the capital build-up and savings mobilization activities of the Cooperative;
b) Patronize the Cooperative’s businesses and services;
c) Participate in the membership education programs;
d) Attend and participate in the deliberation of all matters taken during general assembly
meetings;
e) Observe and obey all lawful orders, decisions, rules and regulations adopted by the
Board of Directors and the general assembly; and
f) Promote the goals and objectives of the Cooperative, the success of its business, the
welfare of its members and the cooperative movement in general.
Section 8. Member Entitled to Vote. Any regular member who meets the following
conditions is a member entitled to vote:
a) Paid the membership fee and the value of at least 100 shares;
b) Not delinquent in the payment of his share capital subscriptions and other accounts or
obligations;
c) Not violated any provision of this By-laws; the terms and conditions of the
subscription agreement; and the decisions, guidelines, rules and regulations
promulgated by the Board of Directors and the general assembly;
d) Completed the basic orientation training program prescribed by the Board of
Directors; and
e) Participates in the affairs of the Cooperative and patronizes its businesses.
Section 9. Rights of a Regular Member Entitled to Vote. A member entitled to vote shall
have the following rights:
a) Participate and vote on all matters deliberated upon during general assembly
meetings;
b) Seek any elective or appointive position, subject to the provisions of this By-laws and
the Cooperative Code of the Philippines;
c) Avail himself of the services of the Cooperative, subject to certain conditions as may
be prescribed by the Board of Directors;
d) Inspect and examine the books of accounts, the minutes books, the share register, and
other records of the Cooperative during office hours; and
e) Such other rights and privileges as may be provided by the General Assembly.
Section 10. Rights of an Associate Member. An associate member shall have the
following rights and privileges:
a) Participate in the deliberation of any issue during general membership meetings;
b) Avail himself of the services of the Cooperative, subject to certain conditions as may
be prescribed by the Board of Directors;
c) Inspect and examine the books of accounts, the minutes books, the share register, and
other records of the Cooperative during office hours;
d) Has preference in the payment of interest on share capital and in the distribution of
the net assets of the Cooperative in case of liquidation; and
e) Such other rights and privileges as may be granted by the General Assembly.
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Section 11. Liability of Members. A member shall be liable for the debts of the
Cooperative only to the extent of his subscribed share capital.
Section 12. Termination of Membership. Termination of membership, which may be
automatic, voluntary or involuntary, shall have the effect of extinguishing all rights of a member
in the Cooperative or its assets, subject to the provisions of Section 14 of this By-laws and as
may be provided by the general assembly.
Automatic Termination of Membership. The death, insanity, permanent incapacity or
judicial declaration by a competent court of the insolvency of a member shall be considered an
automatic termination of his membership in the Cooperative.
Voluntary Termination. A member may, for any reason, withdraw his membership from
the Cooperative by giving a 60-day notice to the Board of Directors. However, no member shall
be allowed to withdraw or terminate his membership during any period in which he has any
pending obligation with the Cooperative.
Involuntary Termination. A member may be terminated by a vote of the majority of all
the members of the Board of Directors for any of the following causes:
a) When he has not patronized the services/businesses of the Cooperative for more than
5 years;
b) When he has continuously failed to comply with his obligations;
c) When he has violated any provision of this By-laws and the rules promulgated by the
Cooperative; and
d) For any act or omission injurious or prejudicial to the interest or the welfare of the
Cooperative.
Section 13. Manner of Involuntary Termination. The Board of Directors shall notify in
writing the member who is being considered for termination and shall give him the opportunity
to be heard.
After hearing, the Board of Directors shall render its decision in writing within thirty (30)
days and the same shall be given to said member by the Secretary, personally or by registered
mail. The decision of the Board shall be appealable within thirty (30) days from receipt thereof
to the general assembly whose decision on the matter shall be final. Pending resolution by the
general assembly, his membership remains valid and in force.
Section 14. Refund of Share Capital Contribution. A member whose membership is
terminated shall be entitled to a refund of his share capital contribution and all other interests in
the Cooperative. However, such refund shall not be made if upon payment the value of the assets
of the Cooperative would be less than the aggregate amount of its debts and liabilities exclusive
of his share capital contribution. In which case, the terminated member shall continue to be
entitled to the interest of his share capital contributions, patronage refund and the use of the
services of the Cooperative until such time that all his interests in the Cooperative shall have
been fully paid. Upon the acceptance of his withdrawal or approval of his termination, however,
he looses his right to attend, participate and vote in any meeting of the Board of Directors or the
general assembly.
ARTICLE III
Government
Section 15. The General Assembly. The general assembly is composed of all the
members entitled to vote and is the highest governing-body of the Cooperative.
Section 16. Powers of the General Assembly. Subject to the provisions of the
Cooperative Code of the Philippines and the rules issued hereunder, the general assembly duly
assembled shall have the following powers:
a) To adopt and amend its Articles of Cooperation and By-laws, in accordance with law;
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b) To elect, appoint or remove for cause any member of the board of directors, officer or
committee member of the Cooperative;
c) To review, modify, reject or approve developmental plans and programs of the
Cooperative;
d) To review and pass upon the reports of the Board of Directors, Officers and
committees;
e) To review, modify, reject or approve any substantial change in the financial and
operational policies of the Cooperative;
f) To adopt a Cooperative seal and exercise all other powers as may be authorized by
law and the Constitution.
Section 17. Meetings. Meetings of the general assembly, board of directors and
committees may be regular or special. All proceedings and businesses undertaken at any meeting
of the general assembly or Board of Directors, if within the powers or authority of the
Cooperative, there being a quorum, shall be valid.
Section 18. Regular general assembly meeting. The General Assembly shall hold its
annual regular meeting at the principal office of the Cooperative or at any place within the
Philippines on the date fixed by the Board of Directors; provided, that such date shall be within
ninety (90) days after the close of each fiscal year. The fiscal year of this Cooperative shall
commence on the first day of January and end on the last day of December and every year
thereafter.
Section 19. Special general assembly meeting. The Board of Directors may, by a
majority vote of all its members, call a special general assembly meeting at any time to consider
urgent matters requiring immediate membership decision. The Board of Directors must likewise
call a special general assembly meeting within thirty (30) days from receipt of a written request
from a) at least five (5) percent of the total number of members entitled to vote; b) the Chairman
of the Audit Committee; or c) the head of the Federation or Union to which the Cooperative is a
member; or d) by the Cooperative Development Authority.
Section 20. Notice of Meeting. All notices of meetings shall be in writing and the date,
time and place thereof stated therein.
Regular General Assembly Meeting. Notice of the annual regular general assembly
meeting shall be served by the Secretary, personally or his duly authorized representative or by
registered mail upon each member at his last known postal address at least two (2) weeks before
the said meeting. It shall be accompanied with an agenda, minutes of meeting of the last general
assembly meeting, consolidated reports of the Board of Directors and Committees, audited
financial statements, and other papers which may assist the members to intelligently participate
in the proceedings.
Special General Assembly Meeting. Notice of any special general assembly meeting shall
be served by the Secretary personally or his duly authorized representative or by registered mail
upon each member at his last known postal address at least one (1) week before the said meeting.
It shall state the purpose and, except for related issues, no other business shall be considered
during the meeting.
Section 21. Agenda. As far as practicable, the order of business of a regular general
assembly meeting shall be:
a) Call to order;
b) Roll Call;
c) Proof of due notice;
d) Declaration of presence of quorum;
e) Consideration of the minutes of the last regular general assembly meeting;
f) Matters arising from the minutes;
g) Consideration of the consolidated report of the board of directors, officers, and the
committees, including audited financial statements of the Cooperative;
h) Unfinished business;
i) Election of directors and committee members;
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j) New business;
k) Other matters; and
l) Adjournment.
Section 22. Quorum for General Assembly Meeting. During regular or special general
assembly meeting, at least twenty five percent (25 %) of the total number of members entitled to
vote shall constitute a quorum.
Section 23. General Assembly Meeting by Chapter. In the event that the general
membership has become more than 1,000, for purposes of holding a regular or special general
assembly meeting, the Board of Directors may, by a majority vote of all its members, divide the
members into Chapter; provided, that each Chapter shall consist of not less than 100 members.
The division may be according to geographical location, scope of operation or such other criteria
as may be deemed appropriate.
Each Chapter shall elect their representative and two alternates from among themselves
who shall represent their members in the consolidation of votes cast and/or decisions taken by the
different chapters.
Upon compliance of the required quorum as prescribed in the preceding Section, a
Chapter shall hold its general assembly meeting in accordance with the agenda prepared by the
Board of Directors. The proceedings shall be under the supervision and control of the Board of
Directors; provided, that the Election Committee shall handle all the elections of directors and
committee members and other officers.
The affirmative and negative votes cast by the members of each Chapter on a specific
subject shall be consolidated by the Board of the Directors and the Chapter representatives in a
special meeting which shall be held within fifteen (15) days after all chapters shall have
conducted their respective assembly meetings.
If the consolidated affirmatives votes on a specific subject reflects the majority votes of
all the members entitled to vote, the same shall be considered a valid cooperative act; otherwise,
the said subject is deemed disapproved by the general assembly.
In the event that a Chapter failed to acquire a quorum, the Board of Directors shall reset
another assembly meeting which shall not be later than 30 days and may adopt such reasonable
measures to ensure attendance.
Section 24. Voting system. Only members entitled to vote shall be qualified to
participate and vote in any general assembly meeting. A member is entitled to one vote only
regardless of the number of shares he owned.
Election or removal of Directors and Committee members shall be by secret ballot.
Action on all matters shall be in any manner that will truly and correctly reflect the will of the
membership. No proxy and/or cumulative voting shall be allowed.
ARTICLE IV
Board of Directors
Section 25. Composition of the Board of Directors. The conduct and management of the
affairs of the Cooperative shall be vested in the Board of Directors which shall be composed of
eleven (11) members.
Section 26. Qualifications. No member shall be elected as a member of the Board of
Directors or any committee unless he is a member entitled to vote and has the following
qualifications
a) Must be a member who is entitled to vote under existing policies
b) Must have the time and willingness to serve the Cooperative .
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Section 27. Disqualifications. Any member who is under any of the following
circumstances shall be disqualified to be elected as a member of the Board of Directors or any
committee, or to continue as such:
a) Holding any elective position in the government, except that of barangay officials;
b) Having served as director of the Cooperative for three (3) consecutive terms;
c) Having direct or indirect personal interest with the business of the Cooperative;
d) Having been absent for three (3) consecutive regular meetings without reasonable
cause;
e) Being an official or employee of the Cooperative Development Authority; and
f) Having been disqualified by law.
Section 28. Election of Directors. The members of the Board of Directors shall be
elected by secret ballot by members entitled to vote during the annual regular general assembly
meeting. Unless earlier removed for cause, or have resigned or become incapacitated, they shall
hold office for a term of two (2) years or until their successors shall have been elected and
qualified; Provided, that one-half plus one of the elected directors obtaining the highest number
of votes during the first election after registration shall serve for two (2) years, and the remaining
directors for one year. Thereafter, all directors shall be elected for a term of two (2) years;
Provided further that no director shall serve for more than three (3) consecutive terms. The term
of the incorporating directors shall expire upon the election of their successors in the first regular
general assembly after registration.
Section 29. Election of Officers. The Board of Directors shall convene within ten (10)
days after the regular general assembly meeting to elect by secret ballot from among themselves
the Chairman and the Vice-Chairman and to appoint or elect the Secretary and Treasurer from
outside of the Board. The elected/appointed officers shall hold office for a term of two (2) years
or until their successors shall have been elected/appointed and actually assumed the functions of
their positions. No two (2) or more persons with relationships up to the third civil degree of
consanguinity or affinity shall hold any elective or appointive position in the same Board or
Committee.
Section 30. Meeting of the Directors. The regular meeting of the Board of Directors
shall be held at least once a month. However, the Chairman or, in his absence, the Vice-
Chairman, or majority of the directors may at any time call a special Board meeting to consider
urgent matters. The call shall be addressed and delivered to the Secretary stating the date, time
and place of such meeting and the matters to be considered. Notice of regular or special
meetings of the Board of Directors, unless dispensed with, shall be served by the Secretary in
writing to each director at least five (5) days before such meeting.
Majority of the total number of directors constitutes a quorum to transact business. Any
decision or action taken by the majority members of the Board of Directors in a meeting duly
assembled shall be a valid Cooperative act.
Section 31. Vacancies. Any vacancy occurring in the Board of Directors by reason of
death, incapacity, removal or resignation may be filled by a majority vote of the remaining
directors, if still constituting a quorum; otherwise, such vacancy shall be filled by the general
assembly in a regular or special meeting called for the purpose. The elected director shall serve
only for the unexpired term of his predecessor in office.
In the event that the general assembly failed to muster a quorum to fill the positions
vacated by directors whose term have expired and said directors refuse to continue their functions
on a hold-over capacity, the remaining members of the Board together with the members of the
Audit Committee shall designate, from the qualified regular members of the general assembly,
their replacements who shall serve as such until their successors shall have been elected and
qualified in a regular or special general assembly meeting called for the purpose.
If a vacancy occurs in any elective committee it shall be filled by the remaining members
of the said committee, if still constituting a quorum; otherwise, the Board, in its discretion, may
appoint or hold a special election to fill such vacancy.
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Section 32. Removal of Directors and Committee Members. Any director or committee
member elected by the general assembly may be removed from office for cause by a vote of at
least two-thirds (2/3) of the members entitled to vote present and constituting a quorum in a
regular or special general assembly meeting called for the purpose after having been given the
opportunity to be heard.
An officer elected or appointed by the Board of Directors or any committee may be
removed from office for cause by a majority vote of all the members of the Board or Committee
as the case may be.
Section 33. Powers and Duties of the Board. The Board of Directors shall direct, control
and supervise the business, manage the property of the Cooperative and may, by resolution,
exercise all such powers of the Cooperative as are not reserved for the general assembly under
this By-laws and the Cooperative Code of the Philippines.
ARTICLE V
Committees
Section 34. Audit Committee. An Audit Committee is hereby created and shall be
composed of three (3) members to be elected during a general assembly meeting and shall hold
office for a term of two (2) years or until their successors shall have been elected and qualified.
Within ten (10) days after their election, they shall elect from among themselves a Chairman,
Vice-Chairman and a Secretary. No member of the committee shall hold any other position
within the Cooperative during his term of office. The Committee shall provide internal audit
service, maintain a complete record of its examination and inventory, and submit an audited
financial report quarterly or as may be required by the Board and the general assembly.
Section 35. Election Committee. An Election Committee is hereby created and shall be
composed of three (3) members to be elected during a general assembly meeting and shall hold
office for a term of two (2) years or until their successors shall have been elected and qualified.
Within ten (10) days after their election they shall elect from among themselves a Chairman,
Vice-Chairman and a Secretary. No member of the committee shall hold any other position
within the Cooperative during his term of office.
The Committee shall promulgate rules and regulations which shall govern the conduct of
elections; pass upon the qualifications of candidates; supervise the conduct of elections, canvass
and certify in writing the returns; proclaim the winning candidates; and hear and decide all
election protests. Election protests filed by the members of the Election Committee shall be
decided by the Board of Directors.
The decision of the Election Committee is appealable to the Board of Directors within 15
days from receipt thereof who shall decide the case within thirty (30) days after receipt of the
records of the case. The decision of the Board is likewise appealable to the Cooperative
Development Authority within 15 days from receipt of said decision. At the option of any of the
parties, however, the case may be submitted for arbitration to a special board composed of three
(3) persons, one of whom shall come from the Cooperative Development Authority and the two
(2) to be nominated by each of the parties concerned.
Section 36. Credit Committee. The credit committee shall be composed of three (3)
members elected at the general assembly for a term of two (2) years or until their successors are
elected and qualified. Within ten (10) days after their election, the members shall elect from
among themselves a Chairman, Vice-Chairman, and a Secretary. In no case shall a member of
the committee serve as a member of the Board of Directors at the same time and vice-versa. The
committee shall be responsible for the credit management of the cooperative. In the performance
of its functions, it shall process, evaluate and act upon loan application and withdrawal of
deposits, except when the applicant is a member of the committee, in which case, the application
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shall be acted upon by the Board of Directors; and exercise general supervision including
collection over all loans to members.
Section 37. Education and Training Committee. An Education and Training Committee
is hereby created and shall be composed of three (3) members to be appointed by the Board of
Directors and shall serve for a term of two (2) years, without prejudice to their reappointment.
Except for the Vice-Chairman, no member of the Committee shall hold any other position within
the Cooperative during his term of office.
The committee shall be responsible for the planning and implementation of the
information, educational and human resource development programs of the Cooperative for its
members, officers and the communities within its area of operation.
Section 38. Conciliation Committee. A Conciliation Committee is hereby created and
shall be composed of 3 members to be elected during a regular general assembly meeting.
Within 10 days after their election, they shall elect from among themselves a Chairman, Vice-
Chairman and a Secretary who shall serve for a term of two (2) years or until their successors
shall have been elected and qualified. No member of the Committee shall hold any other
position in the Cooperative during his term of office.
The Conciliation Committee shall have the following powers and functions:
1. To conciliate, hear and decide all intra-cooperative disputes between and/or among
members, officers, directors and the community.
2. Subject to the approval of the general assembly, to issue supplemental rules and
procedures concerning conciliation processes as may be deemed necessary; and
3. To exercise such other powers as may be necessary to ensure speedy, just, equitable
and inexpensive settlement of disputes within the Cooperative.
Section 39. Other Committees. By a majority vote of all its members, the Board of
Directors may form such other committees as may be deemed necessary for the smooth operation
of the Cooperative.
ARTICLE VI
Officers of the Cooperative
Section 40. Officers and their Duties. The cooperative shall have a Chairman, Vice-
Chairman, Treasurer and a Secretary who shall serve according to the functions of their
respective offices as follows:
Chairman - The Chairman shall:
a) Preside over all meetings of the Cooperative and of the Board of Directors;
b) Sign all share certificates, revolving fund certificates, contracts and other
instruments or papers essential to the operations of the Cooperative; and
c) Perform such other necessary functions, subject to the restrictions which may
be imposed by the Board of Directors or the general assembly.
Vice-Chairman:
In the absence or incapacity of the Chairman, the Vice-Chairman shall discharge
the duties and responsibilities of the Chairman; provided, however, that in case of death,
resignation, removal or permanent incapacity of the Chairman, the Board of Directors
may elect a new Chairman. The Vice-Chairman of the Board shall serve as ex-officio
chairman of the Education and Training Committee.
Board Treasurer - The Treasurer The Board shall appoint the Treasurer and fix his
compensation. He shall serve for one (1) year or until his successor has been appointed
and qualified. He shall have the following duties:
a) Take custody of all monies, securities and papers acquired by the Cooperative,
and maintain a complete records of all its transactions;
b) Keep a complete record of its cash transactions for the establishment of proof
of his cash position at any given time and date;
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c) Pay all financial obligations incurred by the Cooperative as approved by the
Manager and/or Board of Directors;
d) Render report and certify the correctness of the cash position of the
Cooperative in all financial statements and other reports submitted to the
Board of Directors, the general assembly and the Cooperative Development
Authority;
e) Turn over to his successor all monies, securities, papers, books and other
properties belonging to the Cooperative in his possession upon the
expiration/termination of his term of office;
f) Act as Secretary in case of the latter’s absence or incapacity to perform his
duties; and
g) Perform such other duties as the Board of Directors may prescribe.
Board Secretary - The Board shall appoint the Secretary and fix his compensation. He
shall serve for one (1) year or until his successor has been appointed and qualified. He
shall have the following duties:
a) Keep and maintain a complete registry of all members and records/minutes of
all meetings of the Board of Directors and the General Assembly;
b) Give notice of all meetings called;
c) Keep and maintain the Share and Transfer book and serve as the custodian of
the corporate seal of the Cooperative;
d) Turn over to his successor all books, records and other properties belonging to
the Cooperative in his possession upon the expiration/termination of his term
of office; and
e) Act as Treasurer in case of the latter’s absence or inability to perform his
duties; and perform such other duties as the Board of Directors may prescribe.
Section 41. Liabilities of Directors, Officers and Committee Members. Directors,
officers and committee members, who wilfully and knowingly vote for or assent to patently
unlawful acts, or who are guilty of gross negligence or bad faith in directing the affairs of the
Cooperative or acquire any personal or pecuniary interest in conflict with their duties as directors,
officers or committee members shall be liable jointly and severally for all damages resulting
there-from to the Cooperative, members and other persons.
When a director, officer or committee member attempts to acquire or acquires, in
violation of his duties, any interest or equity adverse to the Cooperative in respect to any matter
which has been reposed in him in confidence, he shall, as a trustee for the Cooperative, be liable
for damages or loss of profits which otherwise would have accrued to the Cooperative.
Section 42. Management Staff. The Board of Directors shall appoint the members of the
Management Staff, fix their compensation and tenure of office. The Management Staff include
but are not limited to the President, Accountant and other officers that the Board may appoint.
Section 43. The President. No person shall be appointed to the position of President
unless he possesses the following qualifications and none of the disqualifications herein
enumerated:
a) He must be familiar with the business operation of the Cooperative;
b) He must have at least two (2) years experience in the operations of Cooperative or
related business;
c) He must not be engaged directly or indirectly in any activity similar to the business of
the Cooperative;
d) He must not have been convicted of any administrative, civil or criminal case
involving moral turpitude, gross negligence or grave misconduct in the performance
of his duties;
e) He must not be addicted to any form of gambling or immoral or vicious habits;
At the time of his appointment he must have no pending administrative, civil or criminal
case involving financial and/or property accountabilities; and
f) He must be willing to undergo pre-service and/or in-service trainings.
Section 44. Duties of the President. The President shall:
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a) Have general charge of all the phases of the business operations of the Cooperative,
subject to the policies and guidelines set by the Board of Directors and the General
Assembly.
b) Maintain records and accounts of the Cooperative in such manner that the true
condition of its business may be ascertained there-from at any time.
c) Render reports monthly, annually or as may be required by the Board of Directors or
the general assembly, and preserve the books, documents, correspondence and records
of whatever nature concerning the operations of the Cooperative which may come
into his possession;
d) Subject to the policies set by the Board of Directors, employ, supervise and/or dismiss
any agent or employee in the management force; and
e) Perform such other duties as the Board of Directors may prescribe and turn over to his
successor all properties belonging to the Cooperative in his possession or over which
he has control upon the expiration/termination of his services.
Section 45. Accountant/Bookkeeper. No person shall be appointed to the position of
accountant/bookkeeper unless he possesses the following qualifications and none of the
disqualifications herein enumerated:
a) He must be knowledgeable in accounting and bookkeeping and must have at least two
(2) years experience in Cooperative or related business;
b) He must not be engaged directly or indirectly in any activity similar to the business of
the Cooperative;
c) He must not be convicted of any administrative, civil or criminal case involving moral
turpitude, gross negligence or grave misconduct in the performance of his duties;
d) He must not be addicted to any form of gambling or immoral or vicious habits;
e) He must be willing to undergo pre-service and/or in-service trainings in accounting;
and
f) At the time of his appointment, he must have no pending administrative, civil or
criminal case involving financial and/or property accountabilities.
Section 46. Duties of the Accountant. The Accountant of the Cooperative, who shall be
under the supervision and control of the General Manager shall:
a) Install an adequate and effective accounting system within the Cooperative;
b) Render reports on the financial condition and operations of the Cooperative monthly,
annually or as may be required by the Board of Directors and/or the general assembly;
c) Provide assistance to the Board of Directors in the preparation of annual budget;
d) Keep, maintain and preserve all books of accounts, documents, vouchers, contracts
and other records concerning the business of the Cooperative and make them
available for auditing purposes to the Chairman of the Audit Committee; and
e) Perform such other duties as the Board of Directors may require.
Section 47. Compensation. Subject to the approval of the general assembly, the members
of the Board and Committees may, in addition to per diems for actual attendance to board and
committee meetings, and reimbursement of actual and necessary expenses while performing
functions in behalf of the Cooperative, be given regular compensation; Provided, that no
additional compensation other than the per diems shall be paid during the first year of existence
of the Cooperative. The board may consider the grant of performance bonusto all Cooperative
Personnel, if at end of the fiscal year, the Cooperative surpassed it budgetary targets, the amount
of which does not exceed five percent (5%) of the gross income as determined by the External
Auditor.
ARTICLE VII
Capital Structure
Section 48. Source of Funds. The Cooperative may derive its funds from any or all of
the following sources:
a) Member’s share capital contribution, common and/or preferred;
b) Revolving capital build-up which consist of the deferred payment of patronage refund
or interest on share capital;
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c) Loans and borrowings including deposits;
d) Subsidies, grants, legacies, aids, donations and such other assistance from the
members, their friends and associates and from any local or foreign institution, public
or private;
e) Retentions from the proceeds of services/goods procured by members;
f) Membership fees,
g) Incomes derived from business operations; and
h) Other sources of funds as may be authorized by law.
Section 49. Continuous capital build-up. Every member shall invest in any or all of the
following:
a) At least ten (10) percent of his annual interest on capital and patronage refund; and
b) At least five (5) percent of each good/service acquired by him.
Section 50. Borrowing. The Board of Directors, upon approval of the General
Assembly, may borrow money from any source, local or foreign, under such terms and conditions
that best serve the interest of the Cooperative.
Section 51. Revolving Capital. To strengthen the capital structure of the Cooperative,
the general assembly may authorize the Board of Directors to raise a revolving capital by
deferring the payment of patronage refunds and interest on share capital, or such other schemes
as may be legally adopted. To implement this provision, the Board of Directors shall issue a
Revolving Capital Certificate with serial number, name, rate of interest, date of retirement and
such other rights and privileges or restrictions as may be deemed just and equitable.
Section 52. Retentions. The general assembly may authorize the Board of Directors to
raise additional capital by deducting a certain percent on a per unit basis from the proceeds of
services and/or goods procured by members.
Section 53. Share Capital Contribution. Share Capital Contribution refers to the unit of
capital stated in the Common and/or Preferred shares issued by the Cooperative in accordance
with its Articles of Cooperation, subscribed and paid for by a member.
Common shares shall be issued only to regular members. Preferred shares, on the other
hand, may be issued to regular or associate members with such rights, privileges, or restrictions
as may be provided by the Board of Directors, subject to the approval of the General Assembly.
Share Capital Certificate. The Board of Directors shall issue a Share Capital Certificate
only to a member who has fully paid his subscription. The certificate shall be serially numbered
and contain the shareholder’s name, the number of shares owned, the par value, and duly signed
by the Chairman and the Secretary, and bearing the official seal of the Cooperative. All
certificates issued and/or transferred shall be registered in the Cooperative’s Share and Transfer
book.
The shares may be purchased, owned or held only by persons who are eligible for
membership. Subject to existing government rules or laws, interest shall be paid only to paid-up
shares which may be in cash; or credited as payment of unpaid subscriptions, outstanding
accounts, or additional shares; or to the revolving fund of the Cooperative.
Section 54. Transfer of Shares. The Cooperative shall have the first option to buy any
share offered for sale. The amount to be paid for such shares shall be the par value or book
value, whichever is lower.
If the Cooperative is not in a position or refuses to purchase such shares, the member
shall have the right to sell them to any person eligible for membership in the Cooperative. No
member may transfer his shares or interests in the Cooperative or any part thereof, unless:
a) He has held such shares or interest for at least one year;
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b) The transfer is made to a member of the Cooperative or to a person who falls within
the field of membership of the Cooperative, and that said person is acceptable to the
cooperative; and
c) The Board has approved such transfer.
The transfer of shares shall not be binding to the Cooperative until such transfer has been
registered in the share and transfer book. No transfer shall be completed until the old certificates
shall have been endorsed and surrendered to the Cooperative and a new certificate is issued in the
name of the member-transferee. If the last transferee, is not a member but qualified to be a
member, he shall be required to pay the membership fee and a transfer fee of P 500.00
In case of lost or destroyed share certificate, the Board of Directors may issue a
replacement after the owner thereof has executed a sworn affidavit in triplicate, setting forth the
following:
a) Circumstances as to how, when and where said certificate was lost or destroyed;
b) The serial number of the certificate; and the number of shares it represents; and
c) The lost or destroyed certificate has never been transferred, sold or endorsed to any
third party, and that should the same be found, the owner shall surrender it to the
Cooperative. Any false representation or statement made in the aforesaid affidavit
shall be a ground for expulsion from the Cooperative.
ARTICLE VIII
Operations
Section 55. Primary Consideration. Adhering to the principle of service over and above
profit, the Cooperative shall endeavour to:
a) Formulate and implement program strategies that will provide its members and the
communities within its area of operation needed goods/services; control a significant
segment of the retail industry and stabilize the prices of basic commodities;
b) Adopt and implement plans and programs which ensures the continued build-up of
the Cooperative’s capital structure with the end view establishing other needed
services for the members and the public;
c) To pool the resources of the PMA alumni and their friends and associates, for
the establishment of an alumni center to achieve the following objectives and purposes:
(1) To provide the members of PMAAAI , cadets of the Philippine Military Academy
(PMA) and other affiliate groups, a venue for the conduct of leadership training,
seminars and lectures on business management, entrepreneurship and other ventures
that will open their eyes to new careers outside the military;
(2) To provide the members of PMAAAI decent but affordable billeting
accommodations, and a meeting place where they can socialize and reminisce with
each other, past experiences as cadets and as officers in the field, in order to foster
closer camaraderie among themselves;
(3) To answer the need of PMA for a venue for the conduct of academic seminars,
lectures and courses to upgrade the proficiency of professors, instructors and the PMA
staff officers, as the facilities such as the auditorium, function rooms, lecture hall,
library. restaurant and billeting rooms are made available to PMA.
d) To organize and conduct seminars and/or professional lectures, post graduate
e)
courses, leadership training, seminars for entrepreneurship and other educational endeavors.
f) To provide a Savings and Loan Facility to encourage the members to save and invest
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and to extend to them provident and/or consumption loans at affordable interest rates.
g) To engage in the business of trading goods, services and real estate.
ARTICLE IX
Allocation and Distribution of Net Surplus
Section 56 . At the end of each fiscal year, the Cooperative shall allocate and distribute
its net surplus as follows:
A. Reserve Fund. Ten (10) percent shall be set aside for Reserve Fund subject to the
following rules:
a) The reserve fund shall be used for the stability of the Cooperative and to meet net
losses in its operations. The general assembly may decrease the amount allocated
to the reserve fund when it has already exceeded the authorized share capital. Any
sum recovered on items previously charged to the reserve fund shall be credited to
such fund.
b) The reserve fund shall not be utilized for investment, other than those allowed in
the Cooperative Code. Such sum of the reserve fund in excess of the authorized
share capital may be used at anytime for any project that would expand the
operations of the Cooperative upon the resolution of the general assembly.
c) Upon the dissolution of the Cooperative, the reserve fund shall not be distributed
among the members. However, the general assembly may resolve:
1. To establish usufructuary fund for the benefit of any federation or union to
which the Cooperative is affiliated; or
2. To donate, contribute, or otherwise dispose of the amount for the benefit of.
the members of PMAAAI and/or the community where the Cooperative
operates. If the members could not decide on the disposition of the reserve
fund, the same shall be given to the federation or union to which the
Cooperative is affiliated or operating within the Cooperative’s area of
operation.
B. Education and Training Fund. five (5) percent shall be set aside for Education and
Training Fund. (maximum is 10% of net surplus)
a) Half of the amount allocated to the education and training fund annually under this
subsection may be spent by the Cooperative for education training and other purposes;
while the other half shall be credited to the cooperative education and training fund of
the apex organization of which the Cooperative is a member.
b) Upon the dissolution of the Cooperative, the unexpended balance of the education and
training fund pertaining to the Cooperative shall be credited to the cooperative
education and training fund of the above mentioned apex organization.
C. Optional Fund. Ten (10) percent shall be set aside for Optional Fund for land and
building fund, community development, etc.
D. Interest on Share Capital and Patronage Refund. 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 on investments prescribed by law, and patronage
refunds. The sum allocated for patronage refund shall be made available at the same
rate to all patrons of the Cooperative in proportion to their individual patronage,
subject to the following rules:
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a) The patronage refund of a member with fully paid share capital shall be paid to
him in cash or at this option be credited to his account as additional share capital;
b) The patronage refund of a member with unpaid share capital subscription shall be
credited to his account as payment of his unpaid subscriptions until the same shall
have been fully paid;
c) For non-member patrons, their proportionate patronage refunds shall be set aside
in a general fund created for the purpose. Their individual patronage refund shall
be credited to their respective names only upon request and presentation of
evidence of the amount of his patronage. When the amount so accumulated under
his name within a period of two (2) years equals the minimum share capital
contribution for membership and he is qualified and willing to comply with the
requirements for membership, said non-member patron shall be considered
member of the Cooperative upon payment of membership fee.
If within the period specified in the preceding paragraph, any non-member patron who
has accumulated the sum necessary for membership, but refuses or fails to qualify for
membership, the amount so accumulated in his account together with any part of the general fund
for non-member patrons shall be credited to the reserve fund or to the education and training
fund of the cooperative, at the option of the general assembly.
ARTICLE X
Settlement of Disputes
Section 57. Conciliation Procedures. As far as practicable, all intra-cooperative disputes
shall be settled within the Cooperative. If amicable settlement is not feasible, unless modified or
amended by the general assembly, the following rules and procedures shall govern all
conciliation processes within the Cooperative:
a) Parties to a complaint. The party who files a complaint shall be called the
Complainant and the party being charged shall be called the Respondent.
b) Who may file a complaint. Any member who has a cause of action against any
member, officer or member of any Committee, or of the Board of Directors shall file a
written complaint, in any form and in such numbers as there are respondents, to the
Secretary of the Conciliation Committee, stating the following:
c) Name, address, position in Cooperative and status of membership of the complainant
and the respondent/s, if known;
d) Brief statement of facts and circumstances which caused the commission or omission
of the act complained of;
e) Rights violated and evidence or testimony of witnesses; and
f) Prayer which shall state the relief sought and such other relief as may be deemed just
and equitable.
Baseless complaints. Within seven (7) days from receipt of the complaint, the Committee
shall determine the merit of the complaint. If upon its sound discretion, the complaint is found to
be baseless or without merit, it may dismiss outright the same and inform in writing the
complainant, expressly stating the legal and factual basis of its decision.
Valid cause of action. If the complaint states a valid cause of action, the Committee shall
forthwith inform in writing the respondent/s, providing him a copy of the complaint, and
directing him to submit his answer within ten (10) days from receipt thereof. The Committee
Chairman may, upon written request by the respondent, extend the period within which to file his
answer provided that it shall not exceed ten (10) days.
Withdrawal of complaint. At any time before judgment, the Complainant may, in writing,
withdraw his complaint or enter into a compromise agreement and the case shall be considered
dismissed or settled, as the case may be.
Answer. In his answer, the respondent shall specifically admit or deny, or deny only a
part of any averment in the complaint. He shall set forth the substance of the matters upon which
he relies to support his denial. If he denies only a part of the averment, he shall specify so much
of it as it is true and deny the remainder. He may also state that he had no sufficient knowledge
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as to the truth of a certain matter alleged in the complaint and this shall have the effect of denial.
Any averment in the complaint not specifically denied shall be deemed admitted.
Preliminary conference. Within seven (7) days upon receipt of the answer, the
Committee shall set a preliminary conference whereby only the parties are invited for possible
amicable settlement. If no settlement is made, the Chairman may, at his discretion or upon
request of either party, set another conference which shall not be later than ten (10) days. Any
party may waive his right to a preliminary conference and instead move in writing for a formal
hearing. In which case, the Chairman shall set a date, time and place of hearing and the Secretary
shall notify in writing the parties at least three days before the date fixed.
Manner of hearing. The Committee may adopt any manner of hearing that best serve the
purpose of resolving the dispute objectively, fairly and amicably. The Committee shall always
exert all possible efforts to settle the disputes or encourage the parties to enter into a compromise
agreement. The Committee may schedule a series of hearings until the parties shall have
completed the presentation of their respective evidence. After which, it shall decide the case
within 15 days from the date of the last hearing, categorically stating the legal and factual basis of
its decision.
Appeal to the Board of Directors. Any party to a controversy may appeal to the Board of
Directors within 15 days from receipt of a copy of the decision. After the period to appeal, the
decision of the committee shall become final and executory and can no longer be reopened,
except when the appealing party can show proof that the decision is patently erroneous or
obtained through Fraud, Accident, Mistake and Excusable negligence, or the Committee has
committed grave abuse of discretion.
Decision of the Board. Within 30 days from receipt of the records of the case, the Board
of Directors, constituting a quorum, shall review and decide the case, specifically stating the
reasons and basis of its decision. The parties may be summoned to appear before the Board of
Directors to clarify certain matters, or to submit additional evidence.
Appeal to the General Assembly. The decision of the Board of Directors may be appealed
to the general assembly whose decision shall be final, save those reserved to the adjudicatory
powers of the Cooperative Development Authority as provided under the Cooperative Code of
the Philippines and ther existing rules and laws.
Section 58. Disputes Involving Members of the Conciliation Committee and Board of
Directors. If one of the parties to a controversy is a member of the Conciliation Committee, the
chairman shall endorse the case to the Board of Directors who shall resolve the case following
the procedures prescribed in the preceding section.
If one or both parties are members of the Board of Directors and the Conciliation
Committee, the Chairman of the Committee shall communicate in writing such fact to the
Chairman of the Board of Directors who shall forthwith call a special board meeting to form a
five-man Special Conciliation Committee, consisting of the heads of Audit and Election
Committees, the Secretary and one representative of each party. The special committee shall
convene immediately and after electing from among themselves the Chairman, Vice-Chairman
and the Secretary, proceed to resolve the case in accordance with the procedures prescribed in
the preceding section. The committee shall automatically cease to exist upon the final resolution
of the controversy.
ARTICLE XI
Miscellaneous
Section 59. Investment of Capital. The Cooperative may invest its capital in any or all of
the following:
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a) Shares or debentures or securities of any other cooperative;
b) Cooperative bank or any reputable bank in the locality;
c) Securities issued or guaranteed by Government; and/or
d) Estate primarily for the use of the Cooperative or its members; or
In any other manner approved by the general assembly.
Section 60. Accounting System. The Cooperative shall keep, maintain and preserve all
its books of accounts and other financial records in accordance with generally accepted
accounting principles and practices, applied consistently from year to year, and subject to
existing rules and laws.
Section 61. External Audit. At least once a year, the Board of Directors shall in
consultation with the Audit Committee, cause the audit of the books of accounts of the
Cooperative by an independent Certified Public Accountant.
Section 62. Annual Report. During the annual regular general assembly meeting, the
Cooperative shall submit a report of its operations to the general assembly together with the
audited financial statements. The annual report shall be certified by the Chairman, Treasurer,
Manager and other responsible officers of the Cooperative as true and correct in all aspects to the
best of their knowledge. And the audited financial statements shall be certified by an
independent Certified Public Accountant. Copy of the annual report and audited financial
statements shall be submitted to the Cooperative Development Authority within 60 days from the
end of every fiscal year.
ARTICLE XI
Amendments
Section 63. Amendments. Amendments to the Articles of Cooperation and this By-laws
may be adopted by at least two-thirds (2/3) votes of all members entitled to vote at any regular or
special general assembly called for the purpose without prejudice to the rights of dissenting
members to withdraw their membership under the provisions of the Cooperative Code of the
Philippines.
The amendment/s shall take effect upon receipt by the Cooperative of the Certificate of
Registration of Amendments issued by the Cooperative Development Authority.
Voted and adopted this 8th day of February 2007, in Quezon City, Philippines
NAME AND SIGNATURE OF MEMBERS
PRINTED NAME SIGNATURE
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SIGNED IN THE PRESENCE OF:
________________________________ ______________________________
Signature Over Printed Name Signature Over Printed Name
DIRECTORS’ CERTIFICATION
We, the undersigned, constituting a majority of the Board of Directors of the PMA
CAVALIERS COOPERATIVE do hereby certify that the foregoing instrument is the code of By-
laws of the said Cooperative.
CORONADO P MUÑASQUE PATERNO D LOMONGO
(Chairman) (Vice-Chairman)
ANGELO C QUEDDING DONATO L GUZMAN
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( Director ) (Director)
JOSE C SORRETA JOSE G GUILLEM
(Director) (Director)
SALVADOR M MISON ROLAND I PATTUGALAN
(Director) (Director)
LEOPOLDO L MALIGALIG FRANCISCO GATMAITAN
(Director) (Director)
CONRADO K TOLENTINO
(Director)
ECONOMIC SURVEY
OF
PMA CAVALIERS COOPERATIVE
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I. GENERAL INFORMATION
A. Type of Cooperative:
_______ Credit _______ Producer _______ MP-Agri _______ Service (Specify)
_______ Consumer _______ Marketing ___X___ MP-Non-Agri _
B. Office Address of Cooperative:
PMA Alumni Center, Cp Aguinaldo QC;
C. Area of Operation: _____ Barangay _____ Municipal _____ Provincial
_____ City _____ Regional _X____ National
D. Common Bond of Membership: _______ Residential _______ Institutional
_______ Occupational ____X____ Associational
E. Composition of Members:
_______ Farmers _______ Indigenous Community
_______ Youth
_______ Fisherfolks _______ Disabled ______ Women
_______ ARB _______ Rebel Returnees _______ OCW
_______ Workers/Employees ___X____ Others (Specify) Graduates of the Philippine
Military Academy and foreign Military Service
Academies and their friends and associates.
F. No. of Founding/Organizing Members: ____63_____
G. Projected Increase of Membership for:
First Year : _______1,000__________
Second Year : ______1000___________
Third Year : _______500__________
II. STRATEGICAL OPERATIONAL STUDIES
A. Economic Aspect
1. Are there any other existing cooperative/s within your proposed area of operation that provide the same
goods/services which the cooperative plans to offer? NO
If yes, please state the name/s of such cooperative/s: N/A
2. What strategies the cooperative shall implement to ensure the support of the members?
_______ Collective purchases
____X___ Commitment on lending policies
____X___ Active participation in cooperative affairs
____X___Others (please specify) Good and inexpensive services in terms of billeting accommodations
food, social, academic and training
3. What business activities the Cooperative plans to undertake during the first three years of its operation:
First Year :None- Just construction of Facilities
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Second Year :Same
Third Year : Operation of the billeting and other facilities of the Alumni Center
B. Financial Aspect
1. Capitalization
a. In pursuing its economic activities, how shall the Cooperative generate its capital?
___X____ Share Capital Subscription
___ X____ Deferred payment of patronage refund/interest on share capital (Revolving
Capital)
_______ Acquisition of Loans/borrowings
____X___ Solicitation/acceptance of donations, subsidies, grants, etc.
____X___ Fund raising activities
b. How much is the Cooperative’s initial operating capital? ____P20,000,000.00_________
c. Strategies for internal capital build-up. Solicit more membership and generate Share Capital
Subscription
Solicit donations from members and friends and associates of members and from
institutional donors
2. Revenue
Projected revenue based on the initial operating capital.
First Year : None_____
Second Year : None______
Third Year : P900,000.00
3. Expenditure
How much is the estimated expenses, for:
First Year : Capital Outlay- P20,000,000.00
Second Year : Capital outlay- P 25,000,000.00
Third Year P5,700,000.00
4. Investments
Does the Cooperative intend to invest in the following?
_______ Cooperative bank _______ Mutual
_______ Federation _______ Insurance
_______ Joint ventures ___x____ Others (specify) S/A PAFCPIC
C. Technical Aspect
1. What equipment/machineries/facilities are deemed necessary for the effective and efficient operation of
the Cooperative? (please check)
___X____ Typewriter _______ Medical Instruments
___X____ Computer _______ Warehouse
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____X___ Tables _______ Milling
____X___ Chairs _______ Farm Equipments
____X___ Calculator _______ Post Harvest Equipments
____X___ Vault/Safe _______ Solar Dryer
____X___ Filing Cabinet _______ Fishing Equipments
____X___ Others (specify) Kitchen and dining equipment, furnishings of the Auditorium, lecture
hall, and 2 billeting suites.
2. How would the Cooperative procure its equipments/machineries/facilities?
___X____ Cash purchase ___________Other mode/s (specify)
_______ Loans _______________________________________________
____X___ Donations _______________________________________________
3. What skills/experiences/trainings are deemed necessary for the operation of its equipments
/machineries/facilities?
Hotel and restaurant management/operation
D. Organizational Structure
What qualifications/skills the Board of Directors should possess to enable them to formulate sound policies,
strategies and guidelines which would ensure the success of the Cooperative?
College Graduates
At least 20 years of service in the AFP or PNP or Coast Guard
2. For its initial operations, who among the following officers/employees should be hired by the
Cooperative.
POSITION STATUS OF MINIMUM EDUCATION MONTHLY
APPOINTMENT EXPERIENCE/TRAINING COMPENSATION
Manager Contractual College Graduate (H R M) P12,000.00
Accountant Part Time CPA P5,000.00
Bookkeeper Contractual College Grad P7,000.00
Cashier Contractual 2 yrs or Voc Crse Grad P7,000.00
Sales Clerk Contractual 2 yrs or Voc Crse Grad P7,000.00
Others Contractual 2 yrs or Voc Crse Grad P7,000.00
(Permanent, Contractual, Full-time, Part-time, Volunteer, etc.)
3. What are the Cooperative’s education programs for:
a) Members- Seminars on Cooperative
b) Officers- Seminars on Cooperative
c) Staff- Seminar on Cooperative
4. Who are the Chairmen and members of the following committees?
a) Audit - Jose G Guillem ; Manuel Oxales; Erlinda V Villaflor
b) Credit- Samuel B Ramos; Loreño A Aldes; Bonifacio C Lomotan
c) Election Abraham Mangonon; Manuel Oxales; Salvador Z Ramiro
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d) Education - Paterno D Lomongo; Salvador Ramiro; Jose Ma Solquillo
& Training
e) Conciliation Mariano Santiago; Mario Espina Vicente Custodio
We, the Founding Board of Directors, hereby certify that the foregoing Economic Survey was prepared in
accordance with the facts, information and other data we believed vital to the success of the initial operations of the
Cooperative.
By:
CORONADO P MUÑASQUE
Chairman
Certification on
Basic Bookkeeping, Accounting,
Accounting and Management
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This is to certify the proposed PMA CAVALIERS
COOPERATIVE located at PMA Alumni Center, Cp Aguinaldo,
QC have installed basic bookkeeping, accounting and management
system in order to have an effective and efficient management of
the affairs of the cooperative. Proper recording of business
transaction will be ensured and proper books of accounts,
accountable forms and accounting journals will be used in
accordance with the Generally Accepted Accounting Procedures
and Standard.
CORONADO P MUÑASQUE
CERTIFICATION ON
PRE-MEMBERSHIP EDUCATION SEMINAR
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This is to certify that the Cooperators and Officers listed in
the Articles of Cooperation and by-laws of the proposed PMA
CAVALIERS COOPERATIVE have undergone the required
Cooperative Pre-Membership Education Seminar conducted by
Education and Training Committee, Philippine Army Finance
Center Producers Integrated Cooperative (PAFCPIC). on
January 30, 2007 at the AFP Officers’ Country Club, Cp
Aguinaldo, Quezon City..
________________________
CORONADO P MUÑASQUE
Chairman
8 February, 2007
February 15, 2007
The Chairman
Cooperative Development Authority
Quezon Avenue, Quezon City
Sir:
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In connection with the registration of the Articles of Cooperation
of the PHILIPPINE MILITARY ACADEMY CAVALIERS
COOPERATIVE (PCC), I, the undersigned representative and on
behalf of the cooperators thereof, hereby manifest our willingness to
change its cooperative name in the event that another person, firm or
entity has acquired prior right to the use of the said name or one
deceptively or confusingly similar to it.
Very truly yours,
CORONADO P MUÑASQUE
Chairman
Address: Mandaluyong City
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