LEGAL OBLIGATIONS

Refers to the obligations of the Board of Directors to ensure that the Cooperative complies with the
country’s legal provisions, those relating to the scope of the cooperative sector and those contained
in the by-laws of the organization

STRATEGIC MANAGEMENT
The Board of Directors is responsible for the following:
1. Ensure fulfillment of the mission. “A crucial responsibility of the Board of Directors is to ensure
that the Cooperative has a formal mission statement that clarifies its purpose. The Board of Directors
ensures that the mission is understood and provides management with the direction that will lead to
the fulfillment of its objectives”.
2. Set the strategy. The Board of Directors defines the strategy of the Cooperative, which is
expressed in a strategic plan and which is brought to the attention of the Members’ Assembly.
3. Decision-making. The Board of Directors, as the party ultimately responsible for the
results of the Cooperative, is also the primary decision- maker on strategic matters that
have not been delegated to the Management.

FIDUCIARY
The persons who make up a Board of Directors are "fiduciaries", meaning that they receive the trust
and power of the Cooperative's members to manage the Cooperative under the assumption that they
will act in good faith and in the best interests of the organization, leaving aside the individual interests
of persons or groups of persons and their own personal interests, giving privilege to the interest of
the Cooperative as a whole.

SUPERVISION
A primary responsibility of the Board of Directors is to supervise and monitor the overall functioning
of the Cooperative and the progress of the Cooperative’s operational and financial activity.

SELF-EVALUATION RENEWAL
The responsibilities of the Board of Directors in this area are as follows:
1. Regularly evaluate its own performance.
2. Make adjustment measures where appropriate, developing the capacity to prevent and overcome
crises.
3. Submit for the Assembly’s consideration the results of its self-evaluation and adjustment plans
Guidelines for cooperative bylaws refer to the specific criteria that cooperatives must meet, which are
typically based on the cooperative legislation at the federal, state, or provincial level. These bylaws
serve as the governing rules and regulations that outline the structure, rights, and responsibilities of
the cooperative and its members.

1) Teaming: successfully working together to achieve common purpose.

2) Accountable Empowerment: successfully empowering people while at the same time holding
them accountable for the power granted.
3) Strategic Leadership: successfully articulating the cooperative’s direction/purpose and setting
up the organization for movement in this direction.
4) Democracy: successfully practicing, protecting, promoting, and perpetuating our healthy
democracies.