Question & AnswerQ&A (CDA MEMORANDUM CIRCULAR NO. 2013-06)
Article 83 of RA 9520 grants members the right to examine the records required to be kept by the cooperative under Article 52 during reasonable hours on business days and to demand, in writing, for copies of excerpts from said records without charge except for reproduction costs.
Cooperatives must keep ready and accessible: a copy of RA 9520 and other laws pertaining to cooperatives; a copy of the regulations of the Authority; a copy of the articles of cooperation and bylaws; a register of members; the minutes of meetings; share books, where applicable; financial statements; and other documents prescribed by laws or bylaws.
No, the right to examine records is strictly limited and does not include subsidiary ledgers or records of natural or juridical members other than their own personal records.
Any officer who refuses such right shall be liable to damages and guilty of an offense punishable under Article 140 of RA 9520.
The liability shall be imposed upon the directors who voted for the refusal.
It is a valid defense if the member demanding the records has previously misused any information obtained or was not acting in good faith or for a legitimate purpose.
Members may demand copies during reasonable hours on business days and must make the demand in writing.
There is no charge except for the actual cost of reproduction.
The right to examine is strictly limited to the documents enumerated in Article 52 and does not extend to subsidiary ledgers or other members' records.
The policy was approved by the CDA Board through Resolution No. 044 s-2013, and signed by Emmanuel M. Santiaguel, Ph.D., Chairman.