CDA MEMORANDUM CIRCULAR NO. 2013-09

: The minimum net worth required is Ten Million Pesos (P10,000,000.00) as shown in the latest audited financial statements of the parent cooperative.
: Yes, a parent cooperative may organize more than one subsidiary cooperative provided it has a net worth of Ten Million Pesos (P10,000,000.00) for each subsidiary cooperative it intends to organize.
: The parent cooperative must have a net worth of Twenty Million Pesos (P20,000,000.00) in its latest audited financial statements to organize two subsidiary cooperatives.
: The net worth must be reflected in the latest audited financial statements of the parent cooperative.
: It approved the policy on net worth requirement for organizing a subsidiary cooperative, implementing Section 2 (2), Rule II of the IRR of R.A. 9520.
: The Cooperative Development Authority (CDA) is responsible for the regulation.
: This policy implements certain provisions of Republic Act No. 9520.
: Yes, besides the net worth requirement, the parent cooperative must also comply with other requirements provided under Section 2, Rule II of the IRR of R.A. 9520.
: The legal basis is Section 2 (2), Rule II of the Rules and Regulations Implementing Certain Provisions of R.A. 9520.
: Dr. Emmanuel M. Santiaguel, Chairman of the CDA Board of Administrators.