What Are Cooperative By-Laws?

What Are Cooperative By-Laws?

By- laws should are the set of rules that determines how a cooperatives is to be run without confusion. In general, by-laws should be consistent with the provisions of the Cooperative Code of the Philippines (RA 6938). The by-laws include:

• The qualifications for membership; how they are acquired, maintained and lost;
• The rights and obligations of members;
• The condition for transfer of a share of interest;
• The rules and procedures covering agenda, time, place, and manner of calling, covering , conduct meeting, quorum requirements, voting system, and other, matters related to the business affairs of the general assembly, board of directors, and committees;
• The general conduct of the affairs of the cooperative , including the powers and duties of the general assembly, board of directors, committees and the officers, and their qualifications and disqualifications;
• The manner in which capital may be raise and purpose for which it can be utilized;
• The mode of custody and investment of net surplus;
• The accounting and auditing systems.
• The manner and limitations of loaning and barrowing, including limitations;
• The methods of distribution of net surplus;
• The manner of adopting, amending, repealing, and abrogating by-laws;
• A conciliation or mediation mechanism for the amicable settlement of disputes among members, directors, officers and committees; and
• Other matter pertaining to the purpose and activities of the cooperative.