RESPONSIBILITIES, RIGHTS AND PRIVILEGES OF land buildings, and facilities equipment goods, or

COOPERATIVES services acquired and held. by such member

- ADDRESS- every coop shall have an official postal
address to which all notices and communications
shall be sent
- BOOKS KEPT OPEN
REGISTER OF MEMBERS AS PRIMA FACIE EVIDENCE
Any register or list of member shares kept by any
registered cooperative shall be prima facie evidence
of the following particulars entered therein;
through the proceeds of the loan or credit granted
by the cooperative to him for as long as the same
is not fully paid
- No property or interest on property which is
subject to lien shall be sold or conveyed to 3 rd
parties without prior permission of cooperative
- Notwithstanding the provisions of any law to the
contrary, any transaction, sale or conveyance
made in contravention of 2 above is void.
- salary deduction to pay off debt is allowed.

a. the date of which the name of any person was PRIMARY LIEN- cooperative shall have primary lien
entered in such registered or list of members upon the capital, deposits or interest of a member for
b. the date on which any such person ceased to be a any debt due to the cooperative from such member
member
TAX TRATEMENT OF COOPERATIVES
PROVATIVE VALUE OF CERTIFIED COPIES OF ENTRIES
- duly registered cooperative which do not transact
- a copy of any entry in any book, register or list any business with non-members shall not be
regularly kept in the course of business in the subject to any taxes and fees imposed under
possession of the cooperative shall, if duly internal revenue laws and other tax laws.
certified in accordance with the rules of evidence,
be admissible as evidence of the existence of TAX AND OTHER EXEMPTIONS
entry and prima facie evidence of the matters - cooperative transacting business with both
and transactions therein recorded. members and non-members shall not be subject
- You cannot just request the certified documents, to tax on their transactions with members
you need court order. - transactions of members with the cooperative
BONDING OF ACCOUNTABLE OFFICERS shall not be subject to any taxes and fees
including but not limited to final taxes on
- Every director, officer and employee handling members’ deposit and documentary tax.
funds, sureties or properties in behalf of any -
cooperative shall be covered by surety bond to be
issued for a duly registered issuance of bonding
company for the faithful performance of their
respective duties and obligations. The BOD shall
determine the adequacy of such bonds
- Upon the fling of the application for registration
of a cooperative, the bond of the accountable
officer shall be required by CDA. such bonds shall
be renewed manually and the authority shall be
accordingly informed of such renewal.

PREFERENCE OF CLAIMS

- any debt due to the cooperative member shall

constitute a first lien upon raw materials,
production inputs, and products produced or any