2024-2-3 Cooperative

The minimum number of natural persons required to organize a primary cooperative is:

• 5

• 10

• 15

• 20

A single-purpose cooperative may transform into a multi-purpose cooperative and may create subsidiaries only after

at least:

• 2 years of operation

• 2 years from registration

• 2 years from cooperation

• 2 years from cooperation

A cooperative may register for a term not exceeding how many years?

• 100

• 50

• 25

• 20

The minimum subscription of the authorized capital stock of a cooperative is:

• 10% of the ACS

• 15% of the ACS

• 25% of the ACS

• 30% of the ACS

CDA shall periodically assess the required paid-up share capital and may increase every __ years.

• 5

• 4

• 3

• 2

Should the Office of the President fail to act on the appeal within the required period from the filing thereof, it shall mean:

• Remand of the application back to CDA

• Conditional approval awaiting final signature

• Approval of the application

• Denial of the application

The articles of cooperation and bylaws of the cooperative may be amended by __ vote of all members with voting rights.

• 2/3

• 1/3

• 1/2

• 1/4

Any registered cooperative may resolve to divide itself into 2 or more cooperatives by a resolution approved by a vote of __ of all the members with voting rights.

• 3/4

• 2/3

• 1/2

• 1/4

Any merger or consolidation of cooperatives shall be effective upon:

• The filing of the articles of merger and consolidation with the CDA

• The election of the directors of the merged and consolidated cooperatives

• The issuance of the certificate of merger and consolidation by the CDA

• The date indicated in the articles of merger and consolidation

It is a cooperative the primary purpose of which is to procure and distribute commodities to members and non-members.

• Producers

• Credit

• Procurement

• Consumers