BY-LAWS OF THE
DE LA SALLE UNIVERSITY- DASMARIÑAS DEVELOPMENT COOPERATIVE
(As Amended)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned, citizens and residents of the Philippines, representing a majority of
the members of the De La Salle University – Dasmariñas, Cavite, a primary, multi-purpose
cooperative, hereinafter referred to as the Cooperative, do hereby adopt the following code of
by- laws.
ARTICLE 1
OBJECTIVES and PURPOSES
Section 1. Objectives and Purposes The objectives and purposes of this cooperative are:
1. To provide the members with equal opportunities to serve and be served
efficiently and effectively;
2. To strengthen the spirit of cooperation and unity through active
participation, continuous patronage and assumption of responsibility by
every member in both business and non-business affairs of the
cooperative;
3. To value every individual member as a significant part of the cooperative
and maximize his/her capacity for the advancement through self-help and
mutual help;
4. To provide continuous education and training of members for deeper
involvement and greater productivity;
5. To distribute the benefits on the basis of contribution, participation, and
patronage;
6. To undertake other activities for the effective and efficient implementation
of the provisions of the Cooperative Code.
7. To undertake canteen operations within DLSU-Dasmariñas.
ARTICLE 2
MEMBERSHIP
Section 1. QUALIFICATION FOR MEMBERSHIP. The membership of this
cooperative shall be open to all employees of De la Salle University-Dasmariñas
and regular employees of the Cooperative. This may also include former employees
who have been members of the Cooperative.
Section 2. TYPE OF MEMBERS.
A. Regular Member - one who has met the requirements prescribed in Article 2,
section 3. He is entitled to one vote and be elected to office subject to the
provision of section 12 Article 3 of these By-Laws.
Regular membership may also be granted to an Associate member who meets the
minimum requirements of regular membership, continues to patronize the cooperative
for two (2) consecutive years, and signifies his/her intention to remain a member
shall be considered a regular member.
B. Associate Member- one who has been a regular member in good standing and is
no longer an employee of DLSU-D or the Cooperative; but can enjoy the rights of a
member as stipulated in Article 2, Sec 5 except the power to vote and be elected
to office.
Section 3. APPLICATION AND RE-APPLICATION FOR MEMBERSHIP. The
Board of Directors shall act upon application for membership after the following
requisites are satisfied:
A. The applicant possesses the qualifications for membership.
B. He has satisfactorily completed the Pre-Membership Education Seminar
(PMES) conducted by the Education Committee (EDCOM), except for one who
re-applies for less than one year from the date of withdrawal of membership.
C. He has paid the following fees:
1. Membership fee…………………………………Php 500.00
2. At least he has an initial share capital of Php 1,250.00 (members are
required to deposit the full value of the minimum number of share capital
subscribed (Php 5,000.00). He has submitted duly accomplished application
forms, membership and subscription agreement, and other documents such as
ID pictures, stock certificate, authorization for salary deduction and other
requirements).
3. The amount to be charged for membership can be changed through a
board resolution. Such resolution must be approved by the majority of the
members of the Board in one of their regular board meetings. Implementation
of the new amount to be charged for membership fee shall take effect one (1)
month after the resolution was approved. The new amount shall remain in
effect for one full year (starting from the date of its implementation) and
cannot be changed by another board resolution within said period. The new
amount to be charged for membership fee must not be more than 100%
increase from the previous amount being charged. The new amount must not
exceed the value of PhP 1,000.00 (one thousand Philippine pesos).
However, no member shall own or hold more than ten per cent (10%) of share
capital of the cooperative.
Section 4. Duties of a Member
1. Pay the installment on capital stock subscription as it falls due and participate
in the capital build-up of the cooperative;
2. Patronize regularly its business;
3. Participate in its parliamentary affairs;
4. Attend the membership meetings, regular or special;
5. Obey the rules and regulations provided by R.A. 9520, this by-laws, the
decisions of the general assembly and the board of directors, and policies and
decisions that may be promulgated by the Cooperative Development
Authority; and
6. Promote the aims and purposes of the cooperative, the success of its business,
the welfare of its members and the cooperative movement as a whole.
Section 5. Rights of a Member – Every member who is entitled to vote has the following
rights;
1. Participate in the deliberation during membership meetings;
2. Vote on all matters brought before such meetings;
3. Seek any election, subject to the provisions of Section 12, Article 3 of these By-
Laws;
4. Avail himself of the services of the cooperative without any discrimination
whatsoever upon compliance with the conditions and requirements thereof;
and
5. Inspect and examine the books of accounts, the minutes’ books, the share register,
and other records of the cooperative during office hours and to exercise other
rights and privileges of membership.
A member is entitled to vote when he:
a. Is a regular member ;
b. Has paid the required membership fee and must pay the required full value
of the minimum number of share capital subscribed;
c. Is not delinquent in the payment of his capital contribution and accounts;
d. Has not violated any provision of these by-laws, rules and regulations,
circulars/memoranda and other issuances of the CDA, membership and
subscription agreements and other instruments required of him to execute as
provided in these by-laws or as prescribed by the Board of Directors;
e. Has attended and completed the prescribed cooperative seminars;
f. Patronizes regularly the business of the cooperative and participates in its
parliamentary affairs; and
g. Complies with all obligations, duties, and undertakings of membership.
Section 6. Liability of Members – The liability of a member is limited. No member shall
be liable for any indebtedness of the cooperative beyond his subscribed shares.
Section 7. Termination of Membership – Membership in the cooperative may be
terminated either by withdrawal or expulsion.
Section 8. Withdrawal – Any member desiring to terminate his membership by withdrawal
must give sixty (60) days written 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.
Section 9. Expulsion – A member may be terminated by a vote of the majority of all the
members of the board for any of the following causes:
1. When a member has not patronized the services of the cooperative for at
least one year;
2. When a member has continuously failed to comply with his obligations
for at least one year ;
3. When a member has acted in violation of the by-laws and the rules of the
cooperative; and
4. When a member has committed any act or omission injurious or
prejudicial to the interest or the welfare of the cooperative.
The decision of the Board shall be in writing and shall be communicated
in person or by registered mail to the member. The decision shall be
appealable within 30 days from receipt thereof.
Section 10. Appraisal and Payment of Member’s Interest Upon Termination of
Membership - Upon the termination of the membership of a member, the
Board of Directors shall determine the book value of the member’s share
capital, not to exceed the par value, as established at the year-end audited
financial statement nearest to the date of termination and shall fix the amount
thereof in money to be paid subject to the availability of funds. Within one
year after such termination, or at the option of an expelled or withdrawing
member or the heir or his legal representative, he may in lieu of cash, the
revolving fund certificate or other evidence of indebtedness; Provided,
however, that payment of said equality in cash shall not be made if on
account of such payment the value of the cooperative’s assets would be less
than the aggregate amount of its debts and liabilities exclusive of capital
stocks subscribe, or will diminish the reserves required under existing laws.
ARTICLE 3
ADMINISTRATION
Section 1. Membership Control – Subject to the provisions of R.A. 9520, and regulations
issued thereunder, final authority in the management and administration of the affairs of the
cooperative is vested in the general assembly.
Section 2. The General Assembly - The general assembly of the cooperative shall be
composed of members entitled to vote duly assembled and constituting a
quorum, as stipulated in Sec 9 of this Article.
Section 3. Powers and Limitations of the General Assembly - The general assembly shall
be the highest policy-making body of the cooperative and shall exercise such powers
as are stated in RA 9520. The general assembly shall have the following
exclusive powers which cannot be delegated:
1. To elect and remove directors, officers and committee members for a cause;
2. To hear and pass upon the reports of the Board of Directors, Officers and
committees;
3. To take final decisions regarding any drastic change in financial policies, subject to
legal restrictions;
4. To ratify the amendment/s in the articles of cooperation and/or by- laws;
5. To exercise final authority on all matters vitally affecting the cooperative;
6. To approve developmental plans of the cooperative; and
7. To exercise all powers expressly provided by law and the by-laws.
Section 4. Annual General Assembly – The annual general assembly shall be held any day
within the last week of March at the principal office of the cooperative or at
any place within its area of operation and at such time as the Board of
Directors may designate.
Section 5. Special General Assembly – A special general assembly may be called at any
time by a majority vote of the Board of Directors to consider urgent matters
requiring immediate membership decision. A special general assembly shall
be called by the Board of Directors within thirty (30) days from receipt of
written request from:
1. At least ten per centum (10%) of the total number of members entitled to vote;
2. The Audit Committee; or
3. The Federation or Union of which the cooperative is a member.
Section 6. Notice of General Assembly – Written notices of all meetings shall be served by
the Secretary, at least two (2) weeks prior to the general assembly.
The notice for an annual general assembly shall be accompanied by
the agenda, minutes of the meeting of last general assembly, consolidated
report of the Board of Directors and Committees complete with financial
statement, proposed amendments to the Articles of Cooperation and By-Laws
if any, and other papers needed by the members to arrive at sound and
intelligent decisions during the general assembly.
Notice of any special general assembly shall state the purpose for
which it is to be held and no business other than the stated purpose or those
related thereto shall be considered in the meeting.
Section 7. Fiscal Year – The fiscal year of this cooperative shall commence on the 1st day of
January and end on the last day of December.
Section 8. Agenda – As deemed as practicable, the order of business at each annual meeting
shall be:
1. Roll call;
2. Proof of due notice;
3. Business arising from the minutes of the last general meeting;
4. Presentation of the consolidated report of officers, board of directors and
committees including audited statements of financial condition and operation;
5. Unfinished business;
6. Election of directors and committee members;
7. New business; and
8. Adjournment
Section 9. Quorum at the Membership Assembly – At the annual or special general
assembly, 25 % of the total number of members entitled to vote shall
constitute a quorum.
Section 10. Manner of Voting
1. Regular member is entitled to vote. However, no member of the cooperative
shall be entitled to more than one vote. Also, no proxy voting shall be allowed.
2. Election and removal of directors, officers and committee members should be
by secret balloting. Action on all other matters shall be in any manner that will
truly and correctly reflect the decision of the assembly.
Section 11. Board of Directors and Number – The business of the cooperative shall be
administered by Board of Directors of seven (7) members.
Section 12. Qualifications, and Disqualifications of Directors - All members entitled to
vote, and have the time and willingness to serve are qualified to be voted as
directors, except under any of the following disqualification circumstances:
1. Holding any elective position in the government, except a party list representative
being an officer of a cooperative he or she represents;
2. Having conflicting interest with the business of the cooperative;
3. Having been absent for three (3) consecutive board meetings without justifiable
cause;
4. Being full-time employees of the cooperative;
5. Having been convicted of any crime involving moral turpitude, gross misconduct
in the performance of their duties or found culpable in any administrative case
involving such offenses.
6. Facing, as respondents or defendants, an administrative proceeding or
civil/criminal suits involving financial and/or property accountability.
7. Having been disqualified pursuant to disqualifications prescribed by law.
Section 13. Election of Directors and Term of Office
1. The members of the Board of Directors shall be elected by secret ballot by
the members at the annual general assembly.
2. They shall hold an office for a term of two (2) years unless earlier removed
for cause, or have resigned or become incapacitated due to illness or death,
and until their successors have been elected, qualified and have discharged the
duties of office.
3. No director shall serve for more than three (3) consecutive terms.
Section 14. Directors’ Meeting, Election of Officers and Term of Office
1. A meeting of the Board of Directors shall be held within ten (10) days
after each annual general assembly to elect by secret ballot among
themselves a Chairman and a Vice-Chairman duly supervised by the
Chairman of Election Committee. The said elected officers shall hold office
for a term of one (1) year or until the election, qualification and assumption
into office of their successors.
2. The Treasurer and Secretary must not come from the Board. The Board of
Directors may fill either or both of said positions by appointment for one
(1) year.
3. No two (2) or more persons with relationships up to the third civil degree
of consanguinity or affinity shall serve as elective or appointive officers in
the same Board.
4. Thereafter, the Board of Directors shall meet at least once a month.
5. Directors cannot attend or vote by proxy at board meetings.
6. Special meetings of the Board may be called by the Chairman or in his
absence, by the Vice-Chairman, or by a majority of the directors. The call
for a special meeting shall be addressed and delivered by the Secretary
stating the date, time and place of such meeting and the matters to be
acted upon. Notice of the regular and 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.
Section 15. Quorum of Directors’ Meeting
The Board of Directors’ quorum shall be at least four (4) directors present in
the meeting.
A majority vote of the quorum duly assembled in a meeting shall be a valid
cooperative act.
Section 16. Vacancies
1. When a vacancy in the Board occurs by reason of death, incapacity, or
resignation, the remaining members of the Board constituting the quorum
shall fill the vacancy by appointment giving priority to the candidate
during the last general assembly who garnered the highest number of votes
next to the last elected director.
2. If the remaining members of the Board do not constitute a quorum, the
vacancy shall be filled by the general assembly in a regular or special
meeting called for the purpose. The successor named in either of the two
instances, shall serve for the unexpired portion of the term.
Vacancies in the elective committee shall be filled by the remaining
members constituting a quorum, or if no quorum the Board may cause an
election to fill the vacancies or appoint persons to fill the same.
Section 17. Removal of Directors, Officers and Committee Members- Any elected
director or committee member may be removed from office by a vote of two-
thirds (2/3) of the members entitled to vote present and constituting a quorum
at the annual or general assembly called for the purpose after having been
given the opportunity to be heard at the said assembly.
Any officer elected or appointed by the Board of Directors or
committee members may be removed from office for cause by a majority vote
of the entire membership of the Board or Committee as the case maybe.
Section 18. Powers/Duties of the Board – The Board of Directors, as a body, shall exercise
general supervision and control of the affairs of the cooperative. It shall
prescribe policies consistent with law, these by-laws and the resolutions of the
general assembly for the management of its business and the guidance of its
members, officers and employees. The board of directors shall be responsible for
the strategic planning, direction-setting and policy-formulation activities of the
cooperative.
Section 19. Election Committee – The Election Committee shall be composed of three
members elected during the annual general assembly. Where no members shall
have been elected and qualified, or in the event of vacancy, the Board of Directors
shall appoint its members. Within ten (10) days after their election, they shall
elect their Chairman, Vice-Chairman and Secretary. No member of the
committee shall serve in the Board or in any other elective committees. The
members of the committee shall hold office for one year or until their
successors shall have been elected and qualified. The committee shall
promulgate rules and regulations in the conduct of election, pass upon the
qualification of candidates, supervise the conduct of election, canvass and
certify in writing the returns before the presiding officer proclaim the winning
candidates and shall decide on any election protest.
Election protest filed against the members of the Election Committee
shall be decided by the Board of Directors. The decision of the Election
Committee or the Board of Directors may be appealed to the Conciliation and
Mediation Committee. Should such conciliation or mediation proceedings fail, the
matter shall be settled through voluntary arbitration. Provided, however, that
before any party can validly file a complaint with the Authority for voluntary
arbitration. It must first secure a certification from the conciliation and mediation
committee and from the cooperative union or federation to which it belongs that
despite all efforts to settle the issues, the same has failed.
Section 20. Audit Committee - An Audit Committee composed of three members shall be
elected during the annual general assembly. Where no members shall have been
elected and qualified, or in the event of vacancy, the Board of Directors shall
appoint its members. Within ten (10) days after their election/appointment,
the members of the committee 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 and vice-versa. The
members of the committee shall hold office for one year or until their
successors shall have been elected and qualified. The audit committee shall be
directly accountable and responsible to the general assembly. It shall have the
power and duty to continuously monitor the adequacy and effectiveness of the
cooperative’s management control system and audit the performance of the
cooperative and its various responsibility centers.
Section. 21 Credit and Collection Committee - The Credit and Collection Committee shall
be composed of three members appointed by the Board of Directors. Within ten
(10) days after the appointment, the members of the committee 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
and vice-versa. The members of the committee shall hold office for one year
or until their successors shall have been appointed and qualified. 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 applications and withdrawal of deposits, except when the applicant is a
member of the committee, in which case, the application shall be acted upon
by the Board of Directors.
Section 22. Education and Training Committee – The Education and Training Committee
shall be composed of members as may be determined by the Board and
appointed by the same for a term of one year, without prejudice to their
reappointment. The Vice-Chairman of the Board shall serve as ex-officio
chairman of the committee. The committee shall be responsible in planning
and implementing promotional and educational activities of the cooperative.
Section 23. Mediation and Conciliation Committee – Any dispute arising between or
among members of the Board of Directors, Committee Officers, Management
Staff and Staff and individual members shall be referred to the Mediation and
Conciliation Committee subject to the rules and procedures to be
promulgated by the BOD.
The Conciliation Committee shall have the following powers and functions:
a. To formulate the conciliation-mediation program and ensure
that it is properly implemented;
b. Monitor Conciliation-Mediation operations (Entry of new
cases , status of pending cases, performance of the Conciliators-
Mediators);
c. Submit semi-annual reports to the CDA, within 15 days after
the end of every semester.
d. Accept and file evaluation reports;
e. Submit recommendations for improvements to the BOD; and,
f. Recommend to the BOD any member of the cooperative for
conciliation-mediation trainings as cooperative conciliator-
mediator.
Compositions: The committee shall be composed of three (3) members
appointed by the Board of Directors. The committee shall elect among
themselves a Chairman, Vice-Chairman and Secretary.
Qualifications: Any member in good standing is qualified to be become
members of the committee, provided, he/she is not an officer of the
cooperative.
Term of Service: Members of the committee may serve for a term of two (2)
years. In case of vacancy, the Board may appoint a qualified member to fill in
the vacant position. The BOD shall appoint from the management staff
through the General Manager a Conciliator-Mediator Coordinator, whose
term and functions are prescribed in this rule. Likewise, a pool of conciliator-
mediator shall be established to aid the conciliation-mediation proceedings
and for such other functions provided by law. In case conciliation-mediation
fails in the level of the cooperative the same may be brought to the Federation
or Union wherein the cooperative is affiliated or in the Municipal
Cooperative Development Council wherein the cooperative operates.
Section 24. Ethics Committee –The Ethics Committee shall be composed of such number as may
be determined by the Board and appointed by it for a term of two (2) years, without
prejudice to their reappointment. The Committee shall be responsible in ensuring
that all officers, staff, and members of the cooperative act with utmost
professionalism, integrity, morality and nationalism.
Section 25. Other Committees – Other committees maybe formed and/or created and
their powers/functions defined by the Board as the business and operations of
cooperative may require. The said committees shall assist the Board of
Directors in the implementation of the cooperative development program.
Section 26. Qualifications and Disqualifications for Committee Members – The
qualifications and disqualifications provided for the Board of Directors shall
also be applied to the members of the Audit Committee and the Election
Committee.
Section 27. Officers and their Duties
Officers of the Cooperatives shall include the members of the board of
directors, members of the different committees created by the general assembly,
general manager, secretary, treasurer and accountant.
CHAIRMAN - The Chairman shall:
1. Preside over all meetings of the cooperative and of the Board of Directors;
2. Perform any and all acts and duties usually performed by a presiding officer;
3. Sign all share certificates, revolving fund certificates, contracts and such other papers
of the cooperative which the Board may authorize or direct him to sign; and
4. Perform such other duties as the Board of Directors may prescribe.
However, in case of death, resignation or removal of the Chairman, the Board
of Directors may decide to elect his successor.
VICE CHAIRMAN – In the absence or disability of the Chairman, the Vice-Chairman
shall perform the duties of the Chairman or until such time a new chairman has been
elected and qualified.
TREASURER – The Treasurer shall have the following duties:
1. Take custody of all monies, securities and papers of the cooperative;
2. Keep complete records of its cash transactions for the establishment of proof of his
cash position at any given time and date.
3. Pay upon the recommendation of the manager or as authorized by the Board of
Directors, all money transaction and certify to the correctness of the cash position of the
Cooperative Development Authority;
4. Turn over all monies securities, papers, books and other properties belonging to the
cooperative that he may have in his possessions upon election of his successor;
5. Post an adequate bond, to assure the faithful performances of his duties; and
6. Perform the duties of the Secretary in the latter’s absence or inability to perform his
duties.
SECRETARY – The Secretary shall have the following duties:
1. Keep a complete list of all the members and maintain a correct record of all meetings
of the Board of Directors and general assembly;
2. Give notices of all meetings called;
3. Keep and maintain the stock and Transfer Book and serve as the custodian of the
corporate seal of the cooperative;
4. Turn over to his successor all books and other properties in belonging to the
cooperative that he may have in his possession; and
5. Perform the duties of the Treasurer in the latter’s absence or inability to perform his
duties.
Section 28. Management Staff – The Board of Directors shall appoint the members of
the Management Staff, fix their compensation and tenure.
GENERAL MANAGER – No person shall be appointed to the position of general
manager unless he possesses the following qualifications and none of the
disqualifications herein below enumerated:
1. He must be familiar with the business operation of the cooperative;
2. He must be at least a college graduate;
3. He must have at least two years experience in cooperative or related business;
4. He must be honest and must have a deep sense of responsibility;
5. He must not be engaged directly or indirectly in any business similar to that handled
by the cooperative;
6. He must not have been convicted of moral turpitude, gross negligence or grave
misconduct in the performance of his duties;
7. He must not be addicted to any form of gambling or immoral or vicious habits; and
8. He must be willing to undergo pre-service and/or in-service-trainings.
Duties of the General Manager:
1. The General Manager shall, under policies set by the General Assembly and the
Board of Directors, have general charge of all the phases of the business operations of
the cooperative. Upon the appointment of his successor, he shall turn over to him all
monies and properties’ belonging to the cooperative which he has in his possessions or
over which he has control;
2. He shall maintain his records and accounts in such manner that the true and correct
condition of the business of the cooperative may be ascertained therefrom at any time.
He shall render annual and periodic statements and reports in the form and manner
prescribed by the Board of Directors, and preserve the books, documents,
correspondence and records of whatever kind pertaining to the business which may
come into his possession;
3. He may employ, supervise and dismiss any agent and employee in the management
force subject to the policies of the Board of Directors;
4. Post an adequate bond to assure the faithful performance of his duties.
ACCOUNTANT - No person shall be appointed to the position of accountant unless he
possesses the following qualifications and none of the disqualifications herein below
enumerated:
1. Must be at least a Commerce graduate, major in accounting;
2. Must have at least two (2) years experience in cooperative or related business;
3. Must be honest and must have a deep sense of responsibility;
4. Must not engage directly or indirectly in any business similar to that handled by the
cooperative;
5. Must not have been convicted of any administrative or criminal case involving moral
turpitude, gross negligence or grave misconduct in the performance of his
duties;
6. Must not be addicted to any form of gambling or immoral or vicious habits; and
7. Must be willing to undergo pre-service and/or in-service training.
Duties of the Accountant:
1. Install an adequate and effective accounting system in the cooperative;
2. Render monthly reports to the Board of Directors on the financial conditions and
operations of the cooperative and annual reports to the general assembly or
as may be required;
3. Coordinate with the Manager and Audit Committee in assisting the Board in the
operation of the annual budget; and
4. Assist the Chairman in the preservation of the books of account, document, vouchers,
contracts and records or whatever kind pertaining to the business of the
cooperative which may come to his possession.
Section 29. Liabilities of Directors, Officers and Committee Members –Directors, officers
and committee members, who willfully 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 such directors, officers or committee
members shall be liable jointly and severally for all damages or profits
resulting there from to the cooperative, members and other persons.
When a director, officer or committee member attempt to acquire or
acquire, in violation of their duty, any interest or equity adverse to the
cooperative in respect to any matter which has been reposed in them in
confidence, they shall, as a trustee for the cooperative, be liable for damages
and for double profits which otherwise would have accrued to the
cooperative.
Section 30. Compensation - The members of the Board and Committees may, in addition
to per diems for actual attendance in board and committee meetings, and
reimbursement for actual and necessary expenses while performing functions
in behalf of the cooperatives, be given regular compensation by a majority
vote of the members at a regular or special general assembly called for the
purpose.
ARTICLE 4
CAPITAL STRUCTURE
Section 1. Source of Funds – The cooperative shall derive its funds from:
1. Share capital;
2. Deposits;
3. Revolving capital
4. Capital reserve;
5. Loan capital;
6. Subsidies, grants and donations; and
7. Other sources of funds authorized by law.
Section 2. Continuous Capital Build-Up - Every member shall invest at least Php 400.00
a month in the share capital of the cooperative.
Section 3. Deposits – The cooperative shall receive two (2) kinds of deposits:
1. Saving Deposits – Any member, in addition to his share capital investment, may
open a saving deposit, the rate of interest of which shall be determined by the
Board at the beginning of each fiscal year. Savings deposits not falling below
Php 1,000 during any calendar month shall be entitled to interest computed
quarterly based on the lowest monthly balance. The interest shall be credited to
the depositor’s account, and shall earn interest from the date it is credited.
The Board of Directors shall prescribe the rules and regulations governing
withdrawals from the savings deposits.
2. Time Deposits – Deposits for a fixed period of time and for a fixed rate of
interest may be accepted by the cooperative. The Time Deposits Certificates in
the form prescribed by the Board of Directors evidencing the deposits shall be
issued to depositors.
Section 4. Revolving Capital – The cooperative may adopt a scheme for generating capital
through deferment of the payment of interest on capital and patronage refund
for fixed period not exceeding two years each time, and the rate of interest
consistent with laws and other regulations.
Section 5. Borrowing - The cooperative, through the Board of Directors with the approval
of the general assembly, may borrow money from any other sources at the
best terms and conditions available and in such amount that may be needed.
Section 6. Share Capital - The term “share” shall refer to a unit of capital, the value of
which is Php 100.00. Serially numbered certificates of the cooperative shall be
issued to each member upon full payment of the subscription, and for
subsequent shares as they are paid for. The Certificate shall 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 issues and transfers shall be registered in the stock transfer
book.
The shares may be purchased, owned and held only by persons who
are eligible for membership. Interest may be paid only on the paid-up capital
at the rate prescribed by the CDA and interest may be in cash, or credited
toward payment of subscription or outstanding accounts, or additional shares
or to the revolving fund of the cooperative.
Section 7. Transfer of Shares
1. The cooperative shall have the first option to any share offered for sale. The
amount to be paid for such shares shall be the par value or book value which
ever is lower.
2. If the cooperative is not in a position or otherwise refuses to purchase such shares,
the member shall have the right to sell them to any person eligible for
membership in the cooperative.
3. A member shall not transfer any share held by him or interest in the cooperative or
any thereof, unless:
a. He has held such shares or interest for at least one year;
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, provided
said person is acceptable to the cooperative; and
c. The Board of Directors has approved such transfer.
4. Transfer of shares shall not be binding to the cooperative until such transfer has
been registered in its Stock and Transfer Book. No transfer shall be completed
until the old certificates shall have been endorsed and surrendered and a new
certificate issued in the name of the member. The last transferee, if a new
member, shall pay the required membership fee. A transfer fee of Php 100.00
shall be charged.
5. In the case of loss or destruction of a certificate of stock, another may be issued in
its place to the owner thereof after executing an affidavit in triplicate setting
forth the following:
a. Circumstances as to how, when and where said certificate was lost
or destroyed;
b. The number of shares represented by the certificate;
c. The serial number of the certificate; and
d. 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.
e. A replacement fee shall be charged to the member.
Any false representation or statement made in the aforesaid affidavit shall be
a ground for expulsion from the cooperative.
ARTICLE 5
OPERATION
Section 1. The cooperative is organized to provide its members with quality goods and
services requirements and to operate an enterprise that will provide needed goods
and services to the members and/or community. In either case, the cooperative shall
be operated primarily to ensure efficient and reliable services at competitive prices.
Section 2. For purposes of ensuring efficient and reliable service, the cooperative shall
accept only qualified persons presently engaged in the same or similar service or
persons who can be trained for the technical competence required by services,
maintain standards of equality befitting the status of its clientele, exercise close
supervision over its members-workers and conduct periodic and continuing to
develop the skills and update the competence of its members-workers.
Section 3. Loans may be granted to members for providential or productive purpose.
Section 4. The cooperative will engage in canteen operations within DLSU-Dasmariñas.
Section 5. The cooperative shall mobilize the resources of its members for capital formation
toward financing other services needed by them and the community.
Section 6. Services over and above profit shall be the overriding consideration of the
cooperative in the pursuit of its goals and in the operation of its business.
ARTICLE 6
ALLOCATION AND DISTRIBUTION OF NET SURPLUS
Section 1. At the end of the fiscal year, the cooperative shall distribute its net surplus as
follows:
1. Ten percent (10%) shall be set aside for the reserve fund.
a. The reserve fund shall be used for the stability of the cooperative and meet
net loss in its operations. The general assembly may decrease the amount
allocated to the reserve fund when the reserve fund already exceeds the
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 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.
The general assembly may resolve:
1.) To establish usufructuary fund for the benefit of any federation or union
to which cooperative is affiliated; and
2.) To donate, contribute, or otherwise dispose of the amount for the benefit
of the community where the cooperative operates. If the member cannot
decide upon the disposal of the reserve fund, the same shall go to the
federation or union to which the cooperative is affiliated.
2. Ten percent (10%) for the education and training fund.
a. Seventy percent (70%) of the amount transferred to the education and
training fund annually under this subscription may be spent by the
cooperative for education and training and other purposes; and thirty percent
(30%) 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 appertaining to the cooperative shall be credited
to the cooperative education and training fund of the above mentioned
Apex organization.
3. Seven percent (7%) for land and building fund.
4. Three percent (3%) for community development fund.
5. The remaining net surplus shall be made available to the members in the form of
interest on share capital not exceeding the normal rate of return on investment
prescribed by CDA and patronage refunds.
The sum allocated for patronage refunds shall be made available at the
same rate to all patrons of the cooperative in proportion to their individual
patronage; provided that:
a. In the case of member patron with paid-up share capital contribution, his
proportionate amount of patronage refund shall be paid to him unless he
agrees to credit the amount to his account as additional share capital
contribution;
b. In the case of member patron with unpaid share capital contribution, his
proportionate amount of patronage refund shall be credited to his account
until his share capital contribution has been fully paid.
c. In the case of non-member patron, his proportionate amount of patronage
refund shall be set-aside in a general fund for such patrons and shall be
allocated to individual non-member patrons only upon request and
representation of evidence of the amount of his patronage. The amount so
allocated shall be credited to such patron towards payment of the minimum
capital contribution for membership. When a sum equal to his amount has
accumulated at any time within a period of two years such patron shall be
deemed a member of the cooperative if he so agrees or request and complies
with the provisions of these by-laws for admission to membership.
d. If within the period of time specified in these laws, any subscribers who has
not fully paid his subscribers share capital or any non-member patron who
has accumulated the sum necessary for membership but who does not
request nor agree to become a member or fails to comply with these
provisions of the by-laws for admission to membership, the amount so
accumulated or credited to their account together with any part of the
general fund for non-member patrons shall be credited to the serve fund or
to the education and training fund of the cooperative, at the option of the
general assembly.
ARTICLE 7
MISCELLANEOUS
Section 1. Investment of Capital – A cooperative may invest its capital in any of the
following:
1. In any reputable bank in the locality, or any cooperative;
2. In securities issued or guaranteed by Government;
3. In real state primarily for the use of the cooperative or its members; or
4. In any other manner approved by the general assembly.
Section 2. Books of Accounts – The cooperative shall keep and maintain adequate books of
account in accordance with generally accepted accounting principle and
practices applied consistently from year to year subject however, to the
provisions of R.A. 9520
Section 3. Audit - At least once a year, the Board of Directors shall in consultation with the
Audit Committee cause the audit of the books of account of the cooperative.
Section 4. Annual Report - The cooperative shall make an annual report of its financial
affairs to its members at the general assembly together with the audited
financial statement. The report and statements 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.
Copy of the annual report together with the audited financial
statement shall be submitted to the CDA within 60 days from the end of the
fiscal year.
Section 5. Accounting Systems - Unless otherwise prescribed by the CDA, the cooperative
shall adapt the generally accepted accounting procedures and practices, taking
into consideration the cooperative principle and practices.
ARTICLE 8
SETTLEMENT OF DISPUTES
Section 1. Mediation and Conciliation Procedures. As deemed 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:
1. 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.
2. 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, and in such numbers as there
are respondents, to the Secretary of the Conciliation Committee, stating
the following:
a. Name, address, position in the cooperative and
status of membership of the complainant and the
respondent/s, if known;
b. Brief statement of facts and circumstances which
caused the commission or omission of the act
complained of;
c. Rights violated and evidence or testimony of
witnesses; and
d. Prayer which shall state the relief sought and such
other relief as may be deemed just and equitable.
3. Baseless complaints. Within seven (7) days from receipt of the complaint,
the Conciliation 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 out rightly dismiss the same
and inform the complainants in writing, expressly stating the legal
and factual basis of its decision.
4. Valid cause of action. If the complainant 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 working (10) days from receipt thereof. The
Committee Chairman may upon written request, extend the period
within which to file his answer provided that it shall not exceed ten
working (10) days.
5. 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.
6. 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 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.
7. Preliminary conference. Within seven (7) working 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 of the committee may, at his
discretion or upon the request of either party, set another
conference which shall not be later than ten (10) working 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 of the committee shall set a date, time and place of
hearing and the Secretary shall notify in writing the parties at least
three (3) working days before the date fixed.
8. Manner of hearing. The Committee may adopt any manner of hearing that
best serves 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 fifteen (15) working days from the date of the last hearing,
categorically stating the legal and factual basis of its decision.
9. Appeal to the Board of Directors. Any party to a controversy may appeal
to the Board of Directors within fifteen (15) working days from
receipt of a copy of the decision. After the expiration of 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 gross
negligence, or the Committee has committed grave abuse of
discretion.
10. Decision of the Board. Within thirty (30) working 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.
11. 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 other existing rules and
laws.
Section 2. 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 9
AMENDMENTS
Section 1. Amendments – Amendment to the Article of Cooperation and these by-laws
may be adopted by two third (2/3) vote of the members in good standing
present at any annual or special general assembly called for the purpose.
The amendments shall take effect upon receipt by the cooperative of
the corresponding Certificate of Registration issued by the CDA.
Voted and adopted during the special general assembly on
December16, 2009 in De La Salle University – Dasmariñas, Cavite.
We, the undersigned, constituting a majority of the Board of
Directors of the De La Salle University – Dasmariñas Development
Cooperative do hereby certify the foregoing instrument is the code of by-laws
of the Cooperative.
JOSE R. DOMINGO, JR. CRISPINA R. CORPUZ
Chairman Vice-Chairman
JAN PHILLIP D. MALLARI SONIA M. GEMENTIZA
Director Director
EDITO BUSAYONG DEODORO ABIOG II
Director Director
MARIANO THOMAS S. RAMIREZ
Director
ARTICLES OF COOPERATION OF THE
DE LA SALLE UNIVERSITY – DASMARIÑAS DEVELOPMENT COOPERATIVE
(As Amended)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned, Filipino citizens and residents of the Philippines, have on this
day voluntarily associated ourselves, for the purpose of forming a primary multi-purpose
cooperative under the laws of the Philippines, more particularly RA. 9520.
AND WE HEREBY CERTIFY:
ARTICLE 1
NAME OF THE COOPERATIVE
That the name of the cooperative shall be: DE LA SALLE UNIVERSITY –
DASMARIÑAS DEVELOPMENT COOPERATIVE
ARTICLE 2
OBJECTIVES AND PURPOSES
That the objectives and purposes for which this cooperative is formed are:
1. To provide members equal opportunities to serve and be served efficiently
and effectively;
2. To strengthen the spirit of cooperation and unity through active
participation, continuous patronage and assumption of responsibility by every
member in both business and non-business affairs of the cooperative;
3. To value every individual member as a significant part of the cooperative
and maximize his/her capacity for the advancement through self-help and
mutual help;
4. To provide continuous education and training of members for deeper
involvement and greater productivity;
5. To distribute the benefits on the basis of contribution, participation, and
patronage; and
6. To undertake other activities for the effective and efficient implementation
of the provisions of the Cooperative code.
7. To undertake canteen operations with in DLSU-Dasmariñas.
In the furtherance of and not in limitation of the general powers conferred by
the laws of the Philippines and the objectives and purposes set forth, his cooperative
shall have the following powers:
1. To draw, make, accept, endorse, guarantee, execute and issue promissory
notes, mortgage, bills of exchange, drafts, warrants, certificates and all
kinds of obligations and instruments in connection with and furtherance
of its business operations;
2. To issue bonds, debentures and other obligations of the cooperative, to
contract indebtedness and to secure the same with herein mortgage or
deed of trust, or pledge or lien on any or all of the real and personal
properties of the cooperative.
3. To acquire facilities, either by or through, construction, purchase, lease,
bequest or donation.
For the purpose of attaining or furthering any or all of the objectives
and purposes herein stated, to do any other act and to exercise any other
power which a natural person could do and exercise and which now or
hereafter may be authorized by law.
ARTICLE 3
AREA OF OPERATION
That the area of operation of this cooperative shall be in Dasmariñas, Cavite and its
principal office shall be located or established at the De La Salle University - Dasmariñas.
ARTICLE 4
TERM OF EXISTENCE
That the term of existence for which this cooperative shall exist is 50 years from and
after the date of its incorporation.
ARTICLE 5
NAMES, CITIZENSHIP AND ADDRESSES OF COOPERATORS
That the names, citizens and addresses of the cooperators are as follows:
NAME CITIZENSHIP POSTAL ADDRESS
1. JOSE R. DOMINGO, JR. Filipino 201 B BANAYBANAY, AMADEO, CAVITE
2. JING R. REYES Filipino BLK 7, LOT 26 CITY HOMES RESORTVILLE,
DASMARIÑAS, CAVITE
3. SONIA M. GEMENTIZA Filipino BLK 44 , LOT 16 BAHAY PANGARAP 2000
SAMPALOC IV, DASMARIÑAS, CAVITE
4. LOIDA R. ILANO Filipino 352 TANZANG LUMA V, IMUS CAVITE
5. JACQUELINE L. MORTA Filipino BLK 7, LOT 6 PHASE I, PERPETUAL VILLAGE
BACOOR, CAVITE
6. ARNEL G. SANCHEZ Filipino BLK 25, LOT 18 BUENOS AIRES SUMMERWIND
DASMARIÑAS, CAVITE
7. EFREN P. RAFAEL Filipino SATELLITE I, SAN JOSE
DASMARIÑAS, CAVITE
8. ZENAIDA R. BRAZOS Filipino BLK 4, LOT 9 HAUSKON HOMES
BUROL I, DASMARIÑAS, CAVITE
9. SULPICIO B. REYES Filipino BALABAG, MAHABANG KAHOY, LEJOS
INDANG, CAVITE
10.JOVENCITO Z. YAÑEZ Filipino 35 DON PLACIDO CAMPOS AVENUE
DASMARIÑAS, CAVITE
11. RHODORA D. ESPIRITU Filipino BLK 11 006 CHERRY STREET
BRGY. SUNVALLEY, PARAÑAQUE CITY
12. HENRY L. BERNARDO Filipino 152 PALMETTO, WOODESTATE VILLAGE 2
MOLINO 3, BACOOR, CAVITE
13. FELINORE H. VALERA Filipino BLK 27 LOT 1 SPARROW ST SOUTHCREST
VILLAGE, DASMARIÑAS, CAVITE
14. TERESITA M. TALAMERA Filipino BLK 4, LOT 7 ORIOLE STREET
SOUTHCREST, DASMARIÑAS, CAVITE
15. ALMARIO P. VELASCO Filipino 29 LEGASPI STREET, ALABANG HILLS
MUNTINLUPA CITY
16. MONINA A. REMULLA Filipino 352 TANZANG LUMA, IMUS, CAVITE
17. EVANGELINE C. RUGA Filipino BLK 11, LOT 65 SAN MARINO CITY
SALAWAG, DASMARIÑAS, CAVITE
18. ISABELITA C. CELESTINO Filipino GABRIELA HILLS SUBDIVISION, TUBUAN
SILANG, CAVITE
19. REY M. GARRIDO Filipino 195 BANAYBANAY, AMADEO, CAVITE
20. EDUARDO RUBI II Filipino BLK 2, LOT 5 BAHAY PANGARAP 2000
DASMARIÑAS, CAVITE
21. ARMANDO BAÑARES Filipino 31 NARRA STREET, WOODSTATE VILLAGE
SAN JOSE, DASMARIÑAS, CAVITE
22. DENNIS B. MALDO Filipino BLK 1, LOT 80 EARTH STREET CITYHOMES
DASMARIÑAS, CAVITE
23. MARY JANE V. SAPIENDANTE Filipino BLK 82, LOT 20, BRGY. SAN ESTEBAN
DASMARIÑAS, CAVITE
24. BELINDA C. NARVAEZ Filipino 305 F NARVAEZ STREET, SAN AGUSTIN I
DASMARIÑAS, CAVITE
25. MARY MAY C. EULOGIO Filipino FALCON STREET, SARREAL SUBD.
IMUS, CAVITE
26. MADISON B. VALERA Filipino BLK 27, LOT SOUTHCREST
DASMARIÑAS, CAVITE
27. NIEVES G. SERVIDA Filipino BLK 14, LOT 1A GOLDENVILLE I
SABANG, DASMARIÑAS, CAVITE
28. IMELDA J. DUMAUAL Filipino BLK 9, LOT 17, SOLDIER HILLS IV PH I,
MOLINO, BACOOR, CAVITE
29. ORLANDO B. TIANGCO Filipino BLK 15, LOT 4 SOUTHERN CITY I SUBD.
IMUS, CAVITE
30. RICARDO T. SANTIAGO Filipino BLK 1, LOT 2, PHASE II ANDREAVILLE
EXECUTIVE HOUSE, DASMARIÑAS, CAVITE
31. ZENIA M. MADLANSACAY Filipino 01 BANAYBANAY, AMADEO, CAVITE
32. EVANGELINE M. MERCADO Filipino B. REYES STREET BRGY I
SILANG, CAVITE
33. CRISTINA E. SAYOTO Filipino 5 SAN AGUSTIN, DASMARIÑAS, CAVITE
34. SIEGFRED GAMUEDA Filipino SAN JUAN EXT. STREET, DASMARIÑAS,
CAVITE
35. JANIS ANNE MOJICA Filipino 2120 SGT. REALICA STREET
BINAKAYAN, KAWIT, CAVITE
36 FEDERICO BESA, JR. Filipino SAN JOSE, TAGAYTAY CITY
37. RONALDO L. LUBIANO Filipino REYES STREET, DALAHICAN,
CAVITE CITY
38. CYNTHIA N. CAMARCE Filipino 28 E GONZALES, SILANG, CAVITE
39. MA. LOURDES E. CALVARIO Filipino BLK 15, LOT 7 AREA S
QUEENS ROW SUBD. BACOOR, CAVITE
40. DAVE ANTENOR-CRUZ Filipino 224 AGUINALDO HI WAY, KM 28
DASMARIÑAS, CAVITE
41. CHRISTIAN M. ARIETE Filipino 1168 QUEENSROW EAST SUBD
BACOOR, CAVITE
42. ANNIE P. SASIS Filipino BLK 10, LOT 3 STRAWBERRY STREET
MANDARIN HOMES II, DASMARIÑAS, CAVITE
43. VERNON HIMOR, JR. Filipino SAN JUAN STREET, ZONE 1
DASMARIÑAS, CAVITE
44. MARIE JOIE LOBO Filipino LOT 14, KALAYAAN AVENUE EXT.
WEST REMBO, MAKATI CITY
ARTICLE 6
COMMON BOND OF MEMBERSHIP
That the common bond of membership of this cooperative is institutional and the
field of membership shall be open to all De La Salle University – Dasmariñas employees
provided that the prospective members shall:
1. Pledge to fulfill the responsibilities of members;
2. Complete the prescribed pre-membership education seminar; and
3. Use or anticipate to use the services of the cooperative.
ARTICLE 7
BOARD OF DIRECTORS
That the number of directors of this cooperative shall be seven (7) and the names,
citizenships, residences of these directors who are to serve until their successors are elected
and qualified as provided in the by-laws are:
NAME CITIZENSHIP RESIDENCE
JOSE R. DOMINGO, JR. Filipino 201 B BANAYBANAY, AMADEO, CAVITE
JING R. REYES Filipino BLK 7, LOT 26 CITY HOMES RESORTVILLE,
DASMARIÑAS, CAVITE
RICARDO T. SANTIAGO Filipino BLK 1, LOT 2, PHASE II ANDREAVILLE
EXECUTIVE HOUSE, DASMARIÑAS, CAVITE
TERESITA M. TALAMERA Filipino BLK 4, LOT 7 ORIOLE STREET
SOUTHCREST, DASMARIÑAS, CAVITE
MARY MAY C. EULOGIO Filipino FALCON STREET, SARREAL SUBD.
IMUS, CAVITE
JOVENCITO Z. YAÑEZ Filipino 35 DON PLACIDO CAMPOS AVENUE
DASMARIÑAS, CAVITE
ALMARIO P. VELASCO Filipino 29 LEGASPI STREET, ALABANG HILLS
MUNTINLUPA CITY
ARTICLE 8
CAPITALIZATION
That the authorized share capital of the cooperative is THIRTY MILLION PESOS
(Php30,000,000.00) and said capital is divided into 262,500 common shares and 37,500
preferred shares with a par value of ONE HUNDRED PESOS (Php 100.00).
ARTICLE 9
SUBSCRIBED CAPITAL AND PAID-UP
That the authorized share capital is THIRTY MILLION PESOS (Php 30,000,000.00),
FIFTEEN MILLION PESOS (Php 15,000,000.00) has been subscribed and the amount paid on
such subscription is FIFTEEN MILLION PESOS(Php 15,000,000.00) and that the following
members have subscribed and paid for the number of shares and the amount of share capital
set out after their respective names:
BE IT KNOWN THAT:
Eden Cabrera has been appointed as Treasurer of the cooperative and is expected to
act as such until her successor is duly appointed and qualified in accordance with the by-
laws and that as the Treasurer, she is authorized to receive for the cooperative and to issue
receipts in the name of the Cooperative for all subscriptions/shares paid in by the
subscriber-members.
IN WITNESS WHEREOF, we have hereunto set our hands this 1st day of August,
2003 at Dasmariñas, Cavite.
Names and Signatures of Cooperators
NAME OF MEMBERS SIGNATURE OF MEMBERS
1. JOSE R. DOMINGO, JR. SGD.
2. JING R. REYES SGD.
3. SONIA M. GEMENTIZA SGD.
4. LOIDA R. ILANO SGD.
5. JACQUELINE L. MORTA SGD.
6. ARNEL G. SANCHEZ SGD.
7. EFREN P. RAFAEL SGD.
8. ZENAIDA R. BRAZOS SGD.
9. SULPICIO B. REYES SGD.
10.JOVENCITO Z. YAÑEZ SGD.
11. RHODORA D. ESPIRITU SGD.
12. HENRY L. BERNARDO SGD.
13. FELINORE ANGELICA H. VALERA SGD.
14. TERESITA M. TALAMERA SGD.
15. ALMARIO P. VELASCO SGD.
16. MONINA A. REMULLA SGD.
17. EVANGELINE C. RUGA SGD.
18. ISABELITA C. CELESTINO SGD.
19. REY M. GARRIDO SGD.
20. EDUARDO RUBI II SGD.
21. ARMANDO BAÑARES SGD.
22. DENNIS B. MALDO SGD.
23. MARY JANE V. SAPIENDANTE SGD.
24. BELINDA C. NARVAEZ SGD.
25. MARY MAY C. EULOGIO SGD.
26. MADISON B. VALERA SGD.
27. NIEVES G. SERVIDA SGD.
28. IMELDA J. DUMAUAL SGD.
29. ORLANDO B. TIANGCO SGD.
30. RICARDO T. SANTIAGO SGD.
31. ZENIA M. MADLANSACAY SGD.
32. EVANGELINE B. MERCADO SGD.
33. CRISTINA E. SAYOTO SGD.
34. SIEGFRED GAMUEDA SGD.
35. JANIS ANNE MOJICA SGD.
36 FEDERICO BESA, JR. SGD.
37. RONALDO L. LUBIANO SGD.
38. CYNTHIA N. CAMARCE SGD.
39. MA. LOURDES E. CALVARIO SGD.
40. DAVE ANTENOR-CRUZ SGD.
41. CHRISTIAN M. ARIETE SGD.
42. ANNIE P. SASIS SGD.
43. VERNON HIMOR, JR. SGD.
44. MARIE JOIE LOBO SGD.
TREASURER’S AFFIDAVIT
Republic of the Philippines:
Province / City / Municipality of (Dasmariñas, Cavite)s.s.
I, Eden Cabrera after being duly sworn in accordance with law depose and say:
That I as the duly elected Treasurer of the De La Salle University – Dasmariñas
Faculty Development Cooperative, and act as such until my successor shall have been
elected and qualified in accordance with the By-Laws of the cooperative;
That as such Treasurer, I am authorized to receive for the Cooperative all
membership fees and subscriptions paid in by the members;
That the authorized share capital is Thirty Million Pesos (Php 30,000,000.00),
Fifteen Million Pesos (Php 15,000,000.00) has been subscribed and the amount paid on
such subscription is Fifteen Million Pesos (Php 15,000,000.00) has been actually paid to me
in trust and received by me for the benefit and to the cooperative and that at least 25% of the
authorized share capital has been subscribed and at least 25% of the subscription has been
actually paid to me and that the total membership fees paid is Thirty Eight Thousand Seven
Hundred Pesos (Php 38,700).
MS. EDEN C. CABRERA
Treasurer
SUBSCRIBED AND SWORN TO before me this ___ day of _______ at
Dasmariñas City, affiant exhibiting to me her Residence Certificate no. ___________ issued
on __________________ at Dasmariñas City.
____________________________
NOTARY PUBLIC
Until December 20_____
Doc. No. ____________________
Page No. ____________________
Book No. ____________________
Series of 20________