CDA MEMORANDUM CIRCULAR NO. 2011-21

This document serves as an addendum to Memorandum Circular No. 2011-17, which outlines the policies and guidelines for the establishment of cooperative branches.
The addendum specifically amends Section 16 to include transitory provisions for cooperatives with existing branches.

Legal Principle: Establishes a framework for compliance by cooperatives that had already established branches prior to the issuance of the original Memorandum Circular.
Key Definitions:
- Cooperatives: Entities defined under cooperative laws that have established branches before the effectivity of this circular.
Important Requirements:
- Cooperatives must submit a Statement of Management Responsibility.
  - This statement must be signed by both the Chairman and General Manager.
  - It must clearly indicate the cooperative's intent to comply with the prescribed requirements set forth in the circular.
Timeframes:
- A compliance period of six (6) months is provided from the effectivity of the addendum for the cooperatives to meet the requirements.

Legal Principle: Specifies the commencement of the circular's enforceability.
Important Details:
- The circular shall take effect fifteen (15) days following:
  - Approval by the Board of Administrators.
  - Filing of a copy with the Office of the National Administrative Register (ONAR).
Approval Reference:
- This circular is approved pursuant to BOA Resolution 217, s-2011, dated June 23, 2011.

The circular is adopted and signed by EMMANUEL M. SANTIAGUEL, PH.D., in the capacity of Chairman.

The addendum introduces a six-month compliance period for cooperatives with existing branches to align with new requirements.
A formal statement of intent from the cooperative's leadership is necessary for compliance.
The circular's provisions come into effect fifteen days post-approval, ensuring a clear timeline for implementation.