Cooperative Quiz

The 2 year non-operation rule as a ground to dissolve a cooperative is automatic.

• True

• False

A cooperative is legally born only when the Cooperative Development Authority (CDA) issues the Certificate of Incorporation.

• True

• False

Founding members of a cooperative must be at least 5 persons.

• True

• False

The minimum paid up in a cooperative is always 25% of the subscribed share capital.

• True

• False

The maximum share capital in a cooperative for each member is 10% of total share capital.

• True

• False

Life of a cooperative is extendible for another 50 years provided extension is made in the last 3 years of its original term.

• True

• False

Coop. is an autonomous juridical entity controlled by its BODs.

• True

• False

BODs in a cooperative are not entitled to compensation as a rule.

• True

• False

A Federation of cooperative is 2 or more coops joining with same/similar purpose.

• True

• False

BODs are disqualified to be executive officers in a cooperative.

• True

• False