PHILIPPINE COOPERATIVE CODE OF 2008 (R.A. No.

9520 amendments of RA 6938 and 6939) TABLE OF CONTENTS

Title, Message and introduction Chapter I -General Concepts and Principles Chapter II -Organization and Registration Chapter III -Membership Chapter IV -Administration Chapter V -Responsibilities, Rights, and Privileges of Cooperatives Chapter VI-VII -Insolvency and Dissolution of Cooperatives Chapter VIII -Capital, Property and Funds Chapter IX -Audit, Inquiry and Member s Right to Examine Chapter X -Allocation and Distribution of Net-Surplus Chapter XI -Agrarian Reform Cooperatives Chapter XII -Cooperative Banks Chapter XIII -Insurance Cooperative Chapter XIV -Public Service Cooperatives Chapter XV -Credit Cooperatives Chapter XVI -Financial Service Cooperatives Chapter XVII -Electric Cooperatives Chapter XVIII -Miscellaneous Provisions Chapter XIX -Final Provisions

1-4 ..5-8 .9-19 .20-21 .22-28 29-36 ..37-38 ..40-41 ..42 .43-45 .46-48 .49-52 53 .54-55 56 57-60 ..61-63 64 65

PART I Of Republic Act No. 9520 AN ACT AMENDING THE COOPERATIVE CODE OF THE PHILIPPINES TO BE KNOWN AS THE PHILIPPINE COOPERATIVE CODE OF 2008 CHAPTER I GENERAL CONCEPTS AND PRINCIPLES ARTICLE 1. Title. This Act shall be known as the Philippine Cooperative Code of 2008. ART. 2. Declaration of Policy. It is the declared policy of the state to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of the economic development and social justice. The State shall encourage the private sector to undertake the actual formation and organization of cooperatives and shall create an atmosphere that is conducive to the growth and development of these cooperatives.

Toward this end, the Government and all its branches, subdivisions, instrumentalist and agencies shall ensure the provision of technical guidance, financial assistance and other services to enable said cooperatives to develop into viable and responsive economic enterprises and thereby bring about a strong cooperative movement that is free from any conditions that might infringe upon the autonomy or organizational integrity of cooperatives. Further, the State recognizes the principle of subsidiarity under which the cooperative