epublica Bhjlippines Gaugress of the Philippines (Astros Manila Bosstoentl Congress Second RegulerSession Begun end held in Mateo Manis, on Monday, the owenty-cighth day of July, two thousend eight = [RerusuicActNo. 9520] AN ACT AMENDING THE COOPERATIVE CODE OF THE PHILIPPINES TO RE KNOWN AS THE “PHILIPPINE COOPERATIVE CODE OF 2008" Be ff enacted by the Senate and House of Representatives of the Piilippines in Congress aszenbled: SECTION 1. Aiticles 1, 2. 5, 4 and § of Chapter I on General Concepts and Principles of Repablic Act No. 6938, cothervise known as the "Cocporative Cote af the Philippines” are hereby amended to read as follows: CHAPTER T GENERAL ConcEprs «nm PrinerpLes “ARTICLE 1 Title — This Aat shall be iznown as the "Phillppine Cooperative Cole of 2008"“ARI. 2. Declaration of Policy. ~ It i8 the deslatod poligy of the Siate to fester the creation and ‘growth of cooperatives as a practical vehicle ior ‘promoting selitrelianee and harnessing people power towards the attainment of economic development and social justice. The State shall encourage the private sector to undertake the actual formation and organization of epoperatives and shall create an atmosphere that is conducive t the growth and development of these cioperatives. “Toward this end, the Government and all its branches, aubdivisions, instrumentalities and agencies shall ensure the provision of technical ‘guidance, financial assistance and other sorvicen to enable said cooperatives to develop into viable and rorponsive economic enterprises and thereby bring atout a strong cooperative movement that is free from any conditions that might infringe upon the autonomy or organizational integrity of eooperetives, "Purther, the State recognizes the principle of subsidiarity under which the cooperative sector wall ‘ate and regulate within its own ranks the promotion and organization, training and research, ‘sudit and aupport eorvicos relating to eaaperatives with government assistance where necassary. “ART. 3. General Concepts. — A cooperative is. an autonomons and duly registered association of persous, with a common bend of interest, who have voluntarily joined together ta achieve ther eaeial economic, and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their producis and services and, accepting 2 fair share of the risks and benafits of the undertaking im accordance with universally accepted cooperative principles. "ART. 4. Cooperative Principles. — Every cooperative ehall conduct ite affairs in accordance ‘with Filipino culture, good values and experience ard the univermally acvepted prinaples of eaperation which include, but are not limited to, the fallowiny:“@) Voluntary and Open Membership — Cooperatives are voluntary organizations, open to alll persone able to use their sorviess and willing to accept the responsibilities of membership, without gender, oocial, racial, cultural, political or religious iscrimination “@) Democratic Member Control — Cosperstives are democratic organizations that are controlled by their members who actively participate in setting their policies and making decisions. Men and women serving as elecied representatives, directors or officers are accountable to the membership. Ia primary cooperatives, members have equal voting rights of one-member, one-vote. Coopecatives at other levels are organized in the same democratic manner. “@)_Member Economie Participation — Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is the common property of the ‘Cooperative. They shall receive limited compensation limited interest, if any, on capital subscribed and. as a condition of membership. Membe: allocate surpluses for any or all of the following purpoces: developing the cooperative by eotting up reserves, part of which should at least be indivisible; benefitting mombera in proportion te their patronage of the cooperative's business; and, supporting other stivitice approved by the mombership. “() Autonomy ond Independenes — ‘Cooperatives are autcnamous, self-help organisations: controlled by their members. Tf they enier into agreements with other organizations, including ‘government, or raise eapital from external sources, they shall do so on terms that ensure democratic control of their members and maintain their cooperative autonoiny. “@) Education, Troining and Information — Cooperatives shall provide education and training tor