EXCERPT FROM THE MINUTES OF OSD COOPERATIVE SPECIAL GENERAL

ASSEMBLY MEETING HELD ON MAY 8, 2003 AT OSD OFFICE, SOCOTECO II COMPOUND, J.
CATOLICO ST., GENERAL SANTOS CITY
Present:

85% of the total membership

Absent:

15%

GA Resolution Number 001, Series of 2003
RESOLVED TO AMEND BY SUBSTITUTION
ARTICLES OF COOPERATION
Article I. NAME OF COOPERATIVE
From: (OSD Cooperative, Inc.)
To :

OSD Cooperative
Article II. – Objectives and Purposes

From:
1.
2.
3.
4.
5.

To encourage thrift and savings mobilizations among members for capital formation;
To create funds in order to grant loans for productive and providential purposes to its members;
To provide goods and services and other requirements of the members;
To engage in market management;
To promote the cooperative as a way of life for improving the social and economic well-being of the
people;
6. To do any related activity for the members self government, improve social and/or economic wellbeing under a truly just democratic society;
7. To work with the cooperative movement, non-government and government organizations/entities in
the promotion and development of cooperative and in carrying out government policies;
8. To undertake other activities for the effective and efficient implementation of the provision of the
Cooperative Code.
To:
1. To create funds in order to grant loans to its members for productive and provident;
2. To engage inprocurement and production of commodities to members and non-members; and
3. To provide good and services and other requirements of the members.
Article III. – Area of Operation
From: (Limited to employees of OSD
To;

General Santos City, Sarangani Province and South Cotabato
Article VI. – Common Bond of Membership

From: (Members of Office Services Department of SOCOTECO II)
To:

Residents of General Santos City, Sarangani Province and South Cotabato
Article VIII. – Authorized Capital and Par Value

From: That the authorized capital of this cooperative is Three Hundred Sixty Thousand Pesos (P
360,000.00) and said capital is divided into One Thousand Eight Hundred (1,800) common shares with a par
value of P 200.00 per share.

To:
That the authorized capital of this cooperative is Eight Million Pesos (P8,000,000.00) and said capital
is divided into Forty thousand (40,000) common shares with a par value of P200.00 per share.
Article IX. – Subscribed Capital and Paid-Up
From: That the authorized share capital which has been actually subscribed is Ninety thousand pesos
(P90,000.00) and the amount paid on such subscription in Ninety Pesos (P90,000.00) and that the following
members have subscribed and paid for the number of shares and amount of share capital set forth after their
respective names:…
To:
That the authorized common share capital which has been actually subscribed is Five Million Three
Hundred Twenty Thousand Pesos (P5,320,000.00) and the amount paid on such subscription is One Million
Six Hundred Seventy Thousand Six Hundred Seventy Three & 83/100 Pesos (P 1,670,673.83) and that the
following members have subscribed and paid for the number of shares and amount of share capital set forth
after their respective names:
BY-LAWS
Article I. Name of Cooperative
From: OSD Cooperative, Inc.
To:

OSD Cooperative
Article II. - Membership

From: Members of Office Service Department of SOCOTECO II
To:

Resident in the area of operation
Article III. – Administration (Section4- Meetings)

From: The annual meeting of the general assembly shall be held on March.
To:

The annual meeting of the general assembly shall be held on last Sunday of March.
Article IV. –Cooperative Structure
Section 7. Share Capital and Stock Certificate- Additional Provision:

“Due and unpaid subscribed share capital shall be subject to fine of __2__ percentum as determined
by the Board of Directors for every month of delinquency.”
UNANIMOUSLY APPROVED BY MORE THAN 2/3 OF MEMBERS ENTITLED TO VOTE.

ATTESTED BY:

CERTIFIED CORRECT

AMENDED

ARTICLES OF COOPERATION

ARTICLES OF COOPERATION OF THE
OSD COOPERATIVE

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 NON-AGRICULTURAL
MULTI-PURPOSE cooperative under the laws of the Philippines, particularly R.A. 6938.
AND WE HEREBY CERTIFY:
ARTICLE I
NAME OF COOPERATIVE
That the name of cooperative shall be OSD MULTI-PURPOSE COOPERATIVE
ARTICLE II
OBJECTIVES AND PURPOSES
That the objectives and purposes for which this cooperative is formed are:
PRIMARY
1. To create funds in order to grant loans to its members for productive and provident;
2. To engage in procurement and production of commodities to members and non-members; and
3. To provide good and services and other requirements of the members.

SECONDARY
1. To encourage thrift and saving mobilization among members for capital formation.
2. To promote the cooperative as a way of life for improving the social and economic well
being of the people.
3. To do any related activity for members’ self government, improve social and economic well
being under a truly just democratic society.
4. To work with the cooperative movement, non-government and government
organizations/entities in the promotion and development of cooperatives and in carrying out
government policies.
5. To undertake other activities for the effective and efficient implementation of the provisions
of the Cooperative Code.

In the furtherance of and not in the limitations of the general powers conferred by the laws of
the Philippines and the objectives and purposes set forth, this cooperative shall have the
following powers.
1. To draw, make, accept, endorse, guarantee, execute and issue promissory notes, mortgages,
bills of exchanges, drafts, warrants, certificates and all kinds of obligations, and instruments
in connection with and in 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 a 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
from local and foreign sources.
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 in
which new or hereinafter may be authorized by law.
ARTICLE III
TERM OF EXISTENCE
That the herein term which this cooperative shall exist is FIFTY (50) years from and after the
date of its original registration.
ARTICLE IV
AREA OF OPERATION
That the area of operation of the cooperative shall be in General Santos City, Sarangani
Province and South Cotabato and its principal office shall be located or established at SOCOTECO
II Compound, J. Catolico St., General Santos City
ARTICLE V
NAMES, CITIZENSHIPS AND ADDRESSES OF COOPERATIORS
Name
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________

Citizenship
_________________________
_________________________
_________________________
_________________________
_________________________
(ORIGINAL
COOPERATIORS)
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________

(Please attached additional sheet if necessary)

Postal Address
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________

ARTICLE VI
COMMON BOND OF MEMBERSHIP
That membership of this cooperative is open to residents in the area of operation as defined
and delimited in Article IV hereof, and the field of regular membership shall be opened to all
persons who are of legal age, with capacity to contract or heads of the families.
Notwithstanding the provisions of the preceding paragraph, associate members shall be
opened to all persons who meet the qualifications prescribed in the by-laws.
Provided that all the prospective members shall.
a) Pledge to undertake the responsibilities of membership.
b) Complete the prescribed pre-membership awareness briefing, seminars and
membership training programs; and
c) Use or anticipate to use the services of the cooperative.
ARTICLE VII
BOARD OF DIRECTORS
That the number of the directors of this cooperative shall be 5 and the names, citizenships
and residences of the directors who are to serve until their successors are elected and qualified as
provided in the by-laws are:
Name

Citizenship

_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
(ORIGINAL
BOARD OF DIRECTORS)
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________

Residence
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________
___________________

ARTICLE VIII
AUTHORIZED CAPITAL AND APR VALUE
That the authorized capital of this cooperative is Eight Million Pesos (P8,000,000.00) and
said capital is divided into Forty Thousand (40,000) common shares with a voting rights and N/A
preferred shares both with a par value of P 200.00 per share.
ARTICLE IX
SUBSCRIBED CAPITAL AND PAID UP
That the authorized common share capital which has been actually subscribed is Five Million
Three Hundred Twenty thousand Pesos (P5,320,000.00) and the amount paid on such subscriptions
is One Million Six Hundred Seventy Thousand Six Hundrred Seventy Three & 83/100 Pesos
(P1,670,673.83) and that the following members have subscribed and paid for the number of shares
and amount of share capital set forth after their respective names:

Name

1

Acosta, Norma

2

Adanza, Armel

3

Alaban, Jessie

4

Albendo, Jerson

5

Alcasid, Ernalita

6

Alfonso, Paz

7

Alvarez, Eppie Pearl

8

Amao, Rustico

9
1
0
1
1
1
2
1
3
1
4
1
5

Anava, Jerlin
Angelitud, Arcadio
Angelitud, Agnes
Antiporta, Romulo
Avellana, Buenaventura
Bagcatin, Romeo
Bahan, Manuel

No. of
Amount
of
Shares
Cap. Subs.
Subs.
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0
40,000.0
200
0

No. of
Shares
Amount Paid
Paid
25,798.1
128
3
2,278.7
11
0
1,086.7
5
3
29,849.5
149
1
21,492.7
107
7
23,704.4
118
8
1,008.4
5
1
26,307.0
131
4
2,631.4
13
0
27,673.6
138
6
19,473.6
97
2
26,834.5
134
2
26,166.4
130
0
1,578.8
7
9
18,630.5
93
2

(Please attaché additional sheet if necessary)
BE IT KNOWN THAT:
Armel Adanza has been appointed as Treasurer of the cooperative to act as such unitl his/her
successor is duly appointed and qualified in accordance with the by-laws and that as such Treasurer,
he/she has been 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, including their respective
membership fees.
IN
WITNESS
WHEREOF,
____________________________.

we

have

hereunto

set

our

hands

this

ORIGINAL DATE AND PLACE OF ADOPTION: July 11, 1991 General Santos City, South
Cotabato.
NAMES AND SIGNATURES OF COOPERATORS
__________________________________
____________________________________
1. __________________________________

____________________________________

2. __________________________________

____________________________________

3. __________________________________

____________________________________

4. __________________________________

____________________________________

5. __________________________________

____________________________________

6. __________________________________
(ORIGINAL COOPERATORS)
7. __________________________________

____________________________________

8. __________________________________

____________________________________

9. __________________________________

____________________________________

10. _________________________________

____________________________________

11. _________________________________

____________________________________

12. _________________________________

____________________________________

13. _________________________________

____________________________________

14. _________________________________

____________________________________

15. _________________________________

____________________________________

____________________________________

(Please use additional sheet if necessary)
Signed in the presence of:
_____(SGD) Norma Castardo___
Original Witness

________SGD Juliet Mostacho____________
Original Witness

ACKNOWLEDGEMENT

Republic of the Philippines
City/Province/Municipality of General Santos ) S.S
Before me, a Notary Public for and in the City?Province/Municipality of
________________________ on this day of _______, _______ personally appeared the following
persons who exhibited to me their respective Residence Certificate Numbers as stated below:

Name

Res. Cert.
Number

Date and Place
Issued

_____________________________

___________________

____________________

1. _____________________________

___________________

____________________

2. _____________________________

___________________

____________________

3. _____________________________

___________________

____________________

4. _____________________________

___________________

____________________

5. _____________________________

___________________

____________________

6. _____________________________

___________________

____________________

7. _____________________________

____________________

9. _____________________________

___________________
(ORIGINAL
___________________
COOPERATORS)
___________________

10. ____________________________

___________________

____________________

11. ____________________________

___________________

____________________

12. ____________________________

___________________

____________________

13. ____________________________

___________________

____________________

14. ____________________________

___________________

____________________

15. ____________________________

___________________

____________________

8. _____________________________

____________________
____________________

(Please attached additional sheet if necessary)
Who presented to me be the same persons who executed the foregoing Articles of
Cooperations and acknowledged to me that the same are their free and voluntary act and deed. This
instrument consists of _________ pages including this page wherein all the acknowledgement is
written.
WITNESS my hand and seal this day and place first above mentioned.
SGD Atty. Dominador Lagare
Notary Public
Doc. No. ______________
Page No. ______________
Book No. ______________
Series of _______________

TREASURER’S AFFIDAVIT
(Republic of the Philippines)
City/Province/Municipality of General Santos City
I, Maria Dela Peña after being duly sworn in accordance with law depose and say:
That I am duly appointed Treasurer of the OSD COOPERATIVE to act as such until my
successor shall have been appointed and qualified in accordance with the By-Laws of the
cooperative;
That of the Authorized Common share capital of Eight Million Pesos (P 8,000,000.00), Five
Million Three Hundred Twenty Thousand Pesos (P 5,320,000.00) has been subscribed of which the
amount of One Million Six Hundred Seventy Thousand Six Hundred Seventy Three & 83/100 Pesos
(P 1,670,673.83) has been actually paid to me in trust and received by me for the benefit and to the
credit of the cooperative and that at least 25% of the authorized common share capital has subscribed
and that at least 25% of the said subscribed common share capital has been actually paid and that the
total membership fees paid to me is One Thousand Three Hundred Twenty Pesos (P 1,320.00).
MARIA DELA PEÑA
Treasurer

SUBSCRIBED AND SWORN before me this ___________ day of ____________ 20_______ at
__________________________________ affiant exhibiting to me his/her Residence Certificate No.
_____________ issued on _____________ at _________________________.

_____________________________
Notary Public

Doc. No. ____________
Page No. ____________
Book No. ____________
Series of _____________

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