Question & AnswerQ&A (CDA MEMORANDUM CIRCULAR NO. 2013-03)
The cooperative acquires juridical personality from the date the Authority issues the certificate of registration under its official seal.
The Authority must finally dispose of the application within sixty (60) days from the filing thereof.
The application is deemed approved unless the delay is attributable to the applicant cooperative.
An appeal may be filed with the Office of the President within ninety (90) days from receipt of notice of such denial.
Failure to act within ninety (90) days shall mean approval of the application.
Amendments may be made by a two-thirds (2/3) vote of all members with voting rights, subject to the rights of dissenting members to withdraw under Article 30.
They must contain all provisions required by law, be indicated appropriately (e.g., underscored), and be certified under oath by the cooperative secretary and a majority of the directors that the amendments were duly approved.
The amendments take effect upon approval by the Authority or within thirty (30) days from filing if not acted upon by the Authority for reasons not attributable to the cooperative.
The 60-day period commences only after the submission of complete documentary requirements.
The Authority shall direct the cooperative in writing to complete or rectify the documents within fifteen (15) days. Failure to comply results in denial of the registration application.
The applicant cooperative must file a written request or petition for the issuance of the Certificate of Registration to the Authority.
Yes, except the allowed period for Authority action is thirty (30) days instead of sixty (60) days.