By – Laws
Bountiful Society Consumers Cooperative
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned Filipino citizen, of legal age, and residents of the Philippines, representing at least majority of the members of the Bountiful Society Consumers Cooperative (BSCC), a primary consumer cooperative, do hereby adopt the following code of By-laws.
Purpose/s and Goals
The purpose/s and goals of this Cooperative is to provide its members consumer basic needs and clean drinking water by means of credit, with provisions set forth in its Articles of Cooperation.
Section 1. Membership. This Cooperative shall have regular membership only. A regular member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership. Section 2. Qualification for Membership - The membership of this Cooperative is open to all natural persons, Filipino citizen, of legal age, with capacity to contract and, within the common bond and field of membership described as follows: 1. Pledge to undertake the responsibilities of members;
2. Complete the prescribed pre-membership cooperative education program; 3. Use or anticipate to use the services of the cooperative more particularly the goods and water services; and 4. Provided that no member shall be accepted if he/she is already a member of an existing cooperative of the same kind operating in the same area. Section 3. Type of Membership
a. Regular Member
A regular member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership; b. Retired Regular Member
A member who has retired but opted to continue membership in the Cooperative. A retired regular member has the right to vote but not be voted upon. However, he/she may be appointed to serve in non-elective Committees. c. Honorary Member
Former members, (administrators, faculty, Brothers, alumni) and other distinguished persons who have contributed to the growth of the Cooperative movement by unanimous resolution declaration of the Board of Directors and their acceptance as such. Section 4. Application for Membership
a. The application for membership shall be made in writing on a form provided for the purpose and shall be presented to the Board of Directors for action. The application shall be accompanied by a membership fee of One Hundred (Php100) Pesos which may be adjusted by the Board from time-to-time. b. The applicant shall subscribe to at least ONE HUNDRED (100) shares with a total value of Php10, 000 of which at least Php100 corresponding to 1 share shall be paid upon submission of the 3 application for membership. The membership and subscription agreement shall provide the terms of payment on the unpaid subscription. However, no member shall own or hold more than twenty percent (20%) of the share capital of the cooperative. c. Appeal – An applicant rejected by the Board of Directors, may appeal his case to the next general assembly by giving notice to the Secretary of the cooperative thirty (30) days before the said General Assembly, whose decision on the matter shall be final.
Section 5. Duties and Responsibilities of a Member
Every member shall have the following duties:
a. Pay the installment of his share capital subscription as it falls due and to participate in the capital build-up and savings mobilization activities of the Cooperative; b. Patronize the Cooperative’s businesses and services;
c. Participate in the membership education programs;
d. Attend and participate in the deliberation of all matters taken during general assembly meetings; e. Observe and obey all lawful orders, decisions, rules and regulations adopted by the Board of Directors and the general assembly; and f. Promote the purposes and goals of the Cooperative, the success of its business, the welfare of its members and the cooperative movement in general.
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