10 Filipino

11 Filipino
12 Filipino
13 Filipino
14 Filipino
15 Filipino

ARTICLE VI
COMMON BOND OF MEMBERSHIP

That the common bond of membership of this cooperative is associational and the field of
membership shall be open to all bonafide employees of . These are
employees, who can make use of its services, are in agreement with its purposes and its by-laws.

Membership may be opened to employees of other units that formally

signified to be associated with the Xyz Multi-Purpose Cooperative as approved by the Board of
Directors and the General Assembly. Provided that the prospective members shall:

a) Pledge to undertake the responsibilities of members;

b) Complete the prescribed pre-membership cooperative education program;
c) Use or anticipate to use the services of the cooperative more particularly the savings and
loaning services and other allied services relative thereto; and
d) Provided that no member shall be accepted if he/she is already a member of an existing
cooperative of the same kind operating in the same area.

ARTICLE VII
BOARD OF DIRECTORS

That the number of directors of this Cooperative shall be five (5) and the names, citizenship,
residences of the directors who are to serve until their successors are elected and qualified as
provided in the by-laws are:

NAME CITIZENSHIP POSTAL ADDRESS

1 Filipino
2 Filipino
3 Filipino
4 Filipino
5 Filipino

ARTICLE VIII
CAPITALIZATION

That the authorized share capital of the cooperative is TWO MILLION PESOS (Php 2,000,000.00)
and said capital is divided into TWO HUNDRED THOUSAND (200,000) shares with a par value
of One Hundre Pesos (Php 100.00).

ARTICLE IX