Articles of Cooperation: Revised January 2020
Articles of Cooperation: Revised January 2020
Articles of Cooperation: Revised January 2020
ARTICLES OF COOPERATION
Of
We, the undersigned Filipino citizens, all of legal age and residents of the
Philippines, have voluntarily agreed to organize a primary agricultural multi-
purpose cooperative, under the laws of the Republic of the Philippines, more
particularly R.A. 9520 otherwise known as the Philippine Cooperative Code of
2008.
Article I
Name of the Cooperative
Article II
Type and Purposes
That the type of this cooperative is multi-purpose and the purposes for
which this Cooperative is organized are:
1. To encourage thrift and savings mobilization among the members for capital
formations;
2. To generate a common pool of funds in order to provide financial assistance
and other related financial services to its members for productive and
providential purposes;
3. To establish, own and operate meat shop, consumer store, and cooperative
wholesale and retail complex;
4. To engage in palay and corn trading, palay and corn threshing services, rice
milling, warehousing, and trucking services;
5. To engage in the supply of production inputs to members/non-members and
market their products;
6. To own and manage a water refilling station;
7. To promote the cooperative as a way life for improving the social and
economic well-being of the people;
8. To do any related activity for the members self-government, improve social
and/or economic well-being under a truly just democratic society;
Article III
Goals
That the goals of this cooperative is to help improve the quality of life of
its members and in furtherance thereto shall aim:
Article IV
Powers and Capacities
That the powers, rights and capacities of this cooperative are those
prescribed under Article 9 of Republic Act 9520.
Article V
Term of Existence
That the term for which this Cooperative shall exist is fifty (50) years
from the date of its registration with the Cooperative Development Authority.
Article VI
Common Bond and Field of Membership
Article VII
Area of Operation
That the area of operation of this cooperative shall come from Region IV
(MIMAROIPA & CALABARZON), National Capital Region (NCR), Panay Island
(Iloilo, Capiz, Antique and Aklan) and Region 3 (Bulacan, Bataan, Aurora,
Nueva Ecija, Pampanga, Tarlac & Zambales) and its principal office shall be at
Labangan Poblacion, San Jose, Occidental Mindoro.
Article VIII
Name and Address of Cooperators
That the name and complete postal address of the cooperators are as
follows:
Article IX
Board of Directors
That the number of Directors of this Cooperative shall be seven (7 ) and the
names, citizenship and address of the directors who are to serve until their
successors shall have been elected and qualified as provided in the by-laws are:
ARTICLE X
Capitalization
That the authorized share capital of the cooperative is One Hundred
Million Pesos (P 100,000,000.00) and said capital is divided into One Million
(1,000,000) shares with a par value of One Hundred Pesos (P 100.00).
ARTICLE XI
Subscribed and Paid-up Share Capital
That the authorized share capital that has been actually subscribed is
Sixty Six Million Three Hundred Seventy Five Thousand Pesos (P
66,375,000.00) and the amount paid on such subscription is Thirty Three
Million One Hundred Eighty Seven Thousand Five Hundred Pesos (P
33,187,500.00) and that the following members have subscribed and paid for
the number of shares and amount of share capital set out after their respective
names;
ARTICLE XII
Arbitral Clause
BE IT KNOWN THAT:
ACKNOWLEDGMENT
All known to me the same persons who executed the foregoing Articles of
Cooperation, and who acknowledged to me that the same is their free will and
voluntary deed. This instrument of ____ pages including this page where the
acknowledged is written.
WITNESS my hand seal this day and place first above mentioned.
TREASURER’S AFFIDAVIT
I, Irene L. Edrosa after having been duly sworn to in accordance with law, do
hereby depose and say:
1. That I am the duly elected treasurer of the Watchers Multi-Purpose
Cooperative to act as such until my successor shall have been appointed
and qualified in accordance with the By-Laws of the Cooperative;
2. That as such, I hereby certify that the authorized share capital of this
cooperative is One Hundred Million Pesos (Php100,000,000.00);
3. That the subscribed share capital of the Cooperative is Fifty Six Million
Seven Hundred Fifteen Thousand Pesos (Php66,375,000.00) which is at
least twenty five (25%) percent of the authorized capital;
That the paid-up share capital of the Cooperative is Thirty Three Million One
Hundred Ninety Five Thousand Three Hundred Pesos (Php33,187,500.00)
which is at least twenty five (25%) percent of the subscribed capital; and
4. That the total membership fees paid is Seventy Thousand Five Hundred
Pesos (Php73,800.00).
IRENE L. EDROSA
Affiant
Notary Public
Doc No.
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Book No.
Series of 2020