BY-LAWS OF THE

DE LA SALLE UNIVERSITY- DASMARIAS DEVELOPMENT

COOPERATIVE
(As Amended)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned, citizens and residents of the Philippines,
representing a majority of the members of the De La Salle University
Dasmarias, Cavite, a primary, multi-purpose cooperative, hereinafter
referred to as the Cooperative, do hereby adopt the following code of bylaws.
ARTICLE 1
OBJECTIVES and PURPOSES
Section 1. Objectives and Purposes The objectives and purposes of this
cooperative are:
1. To provide the members with equal opportunities to serve and
be served efficiently and effectively;
2. To strengthen the spirit of cooperation and unity through
active participation, continuous patronage and assumption of
responsibility by every member in both business and nonbusiness affairs of the cooperative;
3. To value every individual member as a significant part of the
cooperative and maximize his/her capacity for the
advancement through self-help and mutual help;
4. To provide continuous education and training of members for
deeper involvement and greater productivity;
5. To distribute the benefits on the basis of contribution,
participation, and patronage;
6. To undertake other activities for the effective and efficient
implementation of the provisions of the Cooperative Code.
7. To undertake canteen operations within DLSU-Dasmarias.
ARTICLE 2
MEMBERSHIP
Section 1. QUALIFICATION FOR MEMBERSHIP. The membership of this
cooperative shall be open to all employees of De la Salle
University-Dasmarias and regular employees of the Cooperative.
This may also include former employees who have been
members of the Cooperative.
Section 2. TYPE OF MEMBERS.
A. Regular Member - one who has met the requirements prescribed
in Article 2, section 3. He is entitled to one vote and be elected
to office subject to the provision of section 12 Article 3 of
these By-Laws.
Regular membership may also be granted to an Associate
member who meets the minimum requirements of regular
membership, continues to patronize the cooperative for
two (2) consecutive years, and signifies his/her intention
to remain a member shall be considered a regular member.

B. Associate Member- one who has been a regular member in

good standing and is no longer an employee of DLSU-D or
the Cooperative; but can enjoy the rights of a member as
stipulated in Article 2, Sec 5 except the power to vote and be
elected to office.
Section 3.
APPLICATION
AND
RE-APPLICATION
FOR
MEMBERSHIP. The Board of Directors shall act upon application for
membership after the following requisites are satisfied:
A. The applicant possesses the qualifications for membership.
B. He has satisfactorily completed the Pre-Membership Education
Seminar (PMES) conducted by the Education Committee (EDCOM),
except for one who re-applies for less than one year from
the date of withdrawal of membership.
C. He has paid the following fees:
1.
Membership feePhp 500.00
2. At least he has an initial share capital of Php 1,250.00
(members are required to deposit the full value of the minimum
number of share capital subscribed (Php 5,000.00). He has
submitted duly accomplished application forms, membership and
subscription agreement, and other documents such as ID
pictures, stock certificate, authorization for salary deduction and
other requirements).
3. The amount to be charged for membership can be changed
through a board resolution. Such resolution must be approved by
the majority of the members of the Board in one of their regular
board meetings. Implementation of the new amount to be
charged for membership fee shall take effect one (1) month after
the resolution was approved. The new amount shall remain in
effect for one full year (starting from the date of its
implementation) and cannot be changed by another board
resolution within said period. The new amount to be charged for
membership fee must not be more than 100% increase from the
previous amount being charged. The new amount must not
exceed the value of PhP 1,000.00 (one thousand Philippine
pesos).
However, no member shall own or hold more than ten per cent
(10%) of share
capital of the cooperative.
Section 4.
1.
2.
3.
4.
5.

6.

Duties of a Member
Pay the installment on capital stock subscription as it falls due
and participate in the capital build-up of the cooperative;
Patronize regularly its business;
Participate in its parliamentary affairs;
Attend the membership meetings, regular or special;
Obey the rules and regulations provided by R.A. 9520, this bylaws, the decisions of the general assembly and the board of
directors, and policies and decisions that may be promulgated by
the Cooperative Development Authority; and
Promote the aims and purposes of the cooperative, the success
of its business, the welfare of its members and the cooperative
movement as a whole.

Section 5. Rights of a Member Every member who is entitled to vote

has the following rights;
1. Participate in the deliberation during membership meetings;
2. Vote on all matters brought before such meetings;
3. Seek any election, subject to the provisions of Section 12, Article 3
of these By-Laws;
4. Avail himself of the services of the cooperative without any
discrimination whatsoever upon compliance with the conditions
and requirements thereof; and
5. Inspect and examine the books of accounts, the minutes books, the
share register, and other records of the cooperative during office
hours and to exercise other rights and privileges of membership.
A member is entitled to vote when he:
a. Is a regular member ;
b. Has paid the required membership fee and must pay the
required full value of the minimum number of share capital
subscribed;
c. Is not delinquent in the payment of his capital contribution
and accounts;
d. Has not violated any provision of these by-laws, rules and
regulations, circulars/memoranda and other issuances of the
CDA, membership and subscription agreements and other
instruments required of him to execute as provided in these bylaws or as prescribed by the Board of Directors;
e. Has attended and completed the prescribed cooperative
seminars;
f. Patronizes regularly the business of the cooperative and
participates in its parliamentary affairs; and
g. Complies with all obligations, duties, and undertakings of
membership.
Section 6. Liability of Members The liability of a member is limited.
No member shall be liable for any indebtedness of the
cooperative beyond his subscribed shares.
Section 7. Termination of Membership Membership in the cooperative
may be terminated either by withdrawal or expulsion.
Section

8. Withdrawal Any member desiring to terminate his

membership by withdrawal must give sixty (60) days written
notice to the Board of Directors. However, no member shall be
allowed to withdraw or terminate his membership during any
period in which he has any pending obligation with the
cooperative.

Section 9.

Expulsion A member may be terminated by a vote of the

majority of all the members of the board for any of the following
causes:
1. When a member has not patronized the services of the
cooperative for at least one year;

2. When a member has continuously failed to comply with his

obligations for at least one year ;
3. When a member has acted in violation of the by-laws and the
rules of the cooperative; and
4. When a member has committed any act or omission injurious
or prejudicial to the interest or the welfare of the cooperative.
The decision of the Board shall be in writing and shall be
communicated in person or by registered mail to the member.
The decision shall be appealable within 30 days from receipt
thereof.
Section 10. Appraisal and Payment of Members Interest Upon
Termination of Membership - Upon the termination of the
membership of a member, the Board of Directors shall determine
the book value of the members share capital, not to exceed the
par value, as established at the year-end audited financial
statement nearest to the date of termination and shall fix the
amount thereof in money to be paid subject to the availability of
funds. Within one year after such termination, or at the option of
an expelled or withdrawing member or the heir or his legal
representative, he may in lieu of cash, the revolving fund
certificate or other evidence of indebtedness; Provided, however,
that payment of said equality in cash shall not be made if on
account of such payment the value of the cooperatives assets
would be less than the aggregate amount of its debts and
liabilities exclusive of capital stocks subscribe, or will diminish
the reserves required under existing laws.

ARTICLE 3
ADMINISTRATION
Section 1. Membership Control Subject to the provisions of R.A. 9520,
and regulations issued thereunder, final authority in the management and
administration of the affairs of the cooperative is vested in the general
assembly.
Section 2. The General Assembly - The general assembly of the
cooperative shall be composed of members entitled to vote duly
assembled and constituting a quorum, as stipulated in Sec 9
of this Article.
Section 3. Powers and Limitations of the General Assembly - The
general assembly shall be the highest policy-making body
of the cooperative and shall exercise such powers as are
stated in RA 9520. The general assembly shall have the
following exclusive powers which cannot be delegated:
1. To elect and remove directors, officers and committee members for a
cause;
2. To hear and pass upon the reports of the Board of Directors, Officers
and committees;
3. To take final decisions regarding any drastic change in financial
policies, subject to legal restrictions;
4. To ratify the amendment/s in the articles of cooperation and/or bylaws;

5. To exercise final authority on all matters vitally affecting the

cooperative;
6. To approve developmental plans of the cooperative; and
7. To exercise all powers expressly provided by law and the by-laws.
Section

4. Annual General Assembly The annual general assembly

shall be held any day within the last week of March at the
principal office of the cooperative or at any place within its area
of operation and at such time as the Board of Directors may
designate.

Section 5. Special General Assembly A special general assembly may

be called at any time by a majority vote of the Board of Directors
to consider urgent matters requiring immediate membership
decision. A special general assembly shall be called by the Board
of Directors within thirty (30) days from receipt of written request
from:
1. At least ten per centum (10%) of the total number of members
entitled to vote;
2. The Audit Committee; or
3. The Federation or Union of which the cooperative is a member.
Section 6. Notice of General Assembly Written notices of all meetings
shall be served by the Secretary, at least two (2) weeks prior to
the general assembly.
The notice for an annual general assembly shall be
accompanied by the agenda, minutes of the meeting of last
general assembly, consolidated report of the Board of Directors
and Committees complete with financial statement, proposed
amendments to the Articles of Cooperation and By-Laws if any,
and other papers needed by the members to arrive at sound and
intelligent decisions during the general assembly.
Notice of any special general assembly shall state the
purpose for which it is to be held and no business other than the
stated purpose or those related thereto shall be considered in
the meeting.
Section 7. Fiscal Year The fiscal year of this cooperative shall commence
on the 1st day of January and end on the last day of December.
Section 8. Agenda As deemed as practicable, the order of business at
each annual meeting shall be:
1. Roll call;
2. Proof of due notice;
3. Business arising from the minutes of the last general meeting;
4. Presentation of the consolidated report of officers, board of directors
and committees including audited statements of financial condition
and operation;
5. Unfinished business;
6. Election of directors and committee members;
7. New business; and
8. Adjournment

Section 9. Quorum at the Membership Assembly At the annual or

special general assembly, 25 % of the total number of members
entitled to vote shall constitute a quorum.
Section 10. Manner of Voting
1. Regular member is entitled to vote. However, no member of the
cooperative shall be entitled to more than one vote. Also, no
proxy voting shall be allowed.
2. Election and removal of directors, officers and committee
members should be by secret balloting. Action on all other
matters shall be in any manner that will truly and correctly reflect
the decision of the assembly.
Section 11. Board of Directors and Number The business of the
cooperative shall be administered by Board of Directors of seven
(7) members.
Section 12. Qualifications, and Disqualifications of Directors All
members entitled to vote, and have the time and willingness to
serve are qualified to be voted as directors, except under any of
the following disqualification circumstances:
1. Holding any elective position in the government, except a party list
representative being an officer of a cooperative he or she
represents;
2. Having conflicting interest with the business of the cooperative;
3. Having been absent for three (3) consecutive board meetings
without justifiable cause;
4. Being full-time employees of the cooperative;
5. Having been convicted of any crime involving moral turpitude, gross
misconduct in the performance of their duties or found culpable
in any administrative case involving such offenses.
6. Facing, as respondents or defendants, an administrative proceeding
or civil/criminal suits involving financial and/or property
accountability.
7. Having been disqualified pursuant to disqualifications prescribed by
law.
Section 13. Election of Directors and Term of Office
1. The members of the Board of Directors shall be elected by
secret ballot by the members at the annual general assembly.
2. They shall hold an office for a term of two (2) years unless
earlier removed for cause, or have resigned or become
incapacitated due to illness or death, and until their successors
have been elected, qualified and have discharged the duties of
office.
3. No director shall serve for more than three (3) consecutive
terms.
Section 14. Directors Meeting, Election of Officers and Term of
Office
1. A meeting of the Board of Directors shall be held within ten
(10) days after each annual general assembly to elect by
secret ballot among themselves a Chairman and a Vice-

2.
3.
4.
5.
6.

Chairman duly supervised by the Chairman of Election

Committee. The said elected officers shall hold office for
a term of one (1) year or until the election,
qualification and assumption into office of their
successors.
The Treasurer and Secretary must not come from the Board.
The Board of Directors may fill either or both of said positions
by appointment for one (1) year.
No two (2) or more persons with relationships up to the third
civil degree of consanguinity or affinity shall serve as elective
or appointive officers in the same Board.
Thereafter, the Board of Directors shall meet at least once a
month.
Directors cannot attend or vote by proxy at board
meetings.
Special meetings of the Board may be called by the Chairman
or in his absence, by the Vice-Chairman, or by a majority of
the directors. The call for a special meeting shall be addressed
and delivered by the Secretary stating the date, time and
place of such meeting and the matters to be acted upon.
Notice of the regular and special meetings of the Board of
Directors unless dispensed with shall be served by the
Secretary in writing to each director at least five (5) days
before such meeting.

Section 15. Quorum of Directors Meeting

The Board of Directors quorum shall be at least four (4) directors
present in the meeting.
A majority vote of the quorum duly assembled in a meeting shall be a
valid cooperative act.
Section 16. Vacancies
1. When a vacancy in the Board occurs by reason of death,
incapacity, or resignation, the remaining members of the
Board constituting the quorum shall fill the vacancy by
appointment giving priority to the candidate during the last
general assembly who garnered the highest number of votes
next to the last elected director.
2. If the remaining members of the Board do not constitute a
quorum, the vacancy shall be filled by the general assembly
in a regular or special meeting called for the purpose. The
successor named in either of the two instances, shall serve for
the unexpired portion of the term.
Vacancies in the elective committee shall be filled by the
remaining members constituting a quorum, or if no quorum the
Board may cause an election to fill the vacancies or appoint
persons to fill the same.
Section 17. Removal of Directors, Officers and Committee MembersAny elected director or committee member may be removed
from office by a vote of two-thirds (2/3) of the members entitled
to vote present and constituting a quorum at the annual or
general assembly called for the purpose after having been given
the opportunity to be heard at the said assembly.

Any officer elected or appointed by the Board of Directors

or committee members may be removed from office for cause by
a majority vote of the entire membership of the Board or
Committee as the case maybe.
Section 18. Powers/Duties of the Board The Board of Directors, as a
body, shall exercise general supervision and control of the affairs
of the cooperative. It shall
prescribe policies consistent with law, these by-laws and the
resolutions of the general assembly for the management of its
business and the guidance of its members, officers and
employees. The board of directors shall be responsible for
the strategic planning, direction-setting and policyformulation activities of the cooperative.
Section 19. Election Committee The Election Committee shall be
composed of three members elected during the annual general
assembly. Where no members shall have been elected and
qualified, or in the event of vacancy, the Board of
Directors shall appoint its members. Within ten (10) days
after their election, they shall elect their Chairman, ViceChairman and Secretary. No member of the committee shall
serve in the Board or in any other elective committees. The
members of the committee shall hold office for one year or until
their successors shall have been elected and qualified. The
committee shall promulgate rules and regulations in the conduct
of election, pass upon the qualification of candidates, supervise
the conduct of election, canvass and certify in writing the returns
before the presiding officer proclaim the winning candidates and
shall decide on any election protest.
Election protest filed against the members of the Election
Committee shall be decided by the Board of Directors. The
decision of the Election Committee or the Board of Directors may
be appealed to the Conciliation and Mediation Committee.
Should such conciliation or mediation proceedings fail,
the matter shall be settled through voluntary arbitration.
Provided, however, that before any party can validly file a
complaint with the Authority for voluntary arbitration. It
must first secure a certification from the conciliation and
mediation committee and from the cooperative union or
federation to which it belongs that despite all efforts to
settle the issues, the same has failed.
Section 20. Audit Committee - An Audit Committee composed of three
members shall be elected during the annual general assembly.
Where no members shall have been elected and qualified,
or in the event of vacancy, the Board of Directors shall
appoint its members.
Within ten (10) days after their
election/appointment, the members of the committee shall elect
from among themselves a Chairman, Vice-Chairman and a
Secretary. In no case shall a member of the committee serve as a
member of the Board of Directors and vice-versa. The members
of the committee shall hold office for one year or until their
successors shall have been elected and qualified. The audit
committee shall be directly accountable and responsible
to the general assembly. It shall have the power and
duty to continuously monitor the adequacy and
effectiveness of the cooperatives management control

system and audit the performance of the cooperative and

its various responsibility centers.
Section. 21 Credit and Collection Committee - The Credit and
Collection Committee shall be composed of three members
appointed by the Board of Directors. Within ten (10) days
after the appointment, the members of the committee shall
elect from among themselves a Chairman, Vice-Chairman and a
Secretary. In no case shall a member of the committee serve as a
member of the Board of Directors and vice-versa. The members
of the committee shall hold office for one year or until their
successors shall have been appointed and qualified. The
committee shall be responsible for the credit management of the
cooperative. In the performance of its functions, it shall process,
evaluate and act upon loan applications and withdrawal of
deposits, except when the applicant is a member of the
committee, in which case, the application shall be acted upon by
the Board of Directors.
Section 22. Education and Training Committee The Education and
Training Committee shall be composed of members as may be
determined by the Board and appointed by the same for a term
of one year, without prejudice to their
reappointment. The Vice-Chairman of the Board shall serve as
ex-officio chairman of the committee. The committee shall be
responsible in planning and implementing promotional and
educational activities of the cooperative.
Section 23. Mediation and Conciliation Committee Any dispute
arising between or among members of the Board of Directors,
Committee Officers, Management Staff and Staff and individual
members shall be referred to the Mediation and Conciliation
Committee subject to the rules and procedures to be
promulgated by the BOD.
The Conciliation Committee shall have the following powers and
functions:
a.

To formulate the conciliation-mediation program and

ensure that it is properly implemented;

b. Monitor Conciliation-Mediation operations (Entry of

new
cases , status of pending cases, performance of the
ConciliatorsMediators);
c.

Submit semi-annual reports to the CDA, within 15

days after
the end of every semester.

d.
e.

Accept and file evaluation reports;

Submit recommendations for improvements to the
BOD; and,
f.
Recommend to the BOD any member of the
cooperative for
conciliation-mediation trainings as cooperative
conciliatormediator.

Compositions: The committee shall be composed of three (3)

members appointed by the Board of Directors. The committee
shall elect among themselves a Chairman, Vice-Chairman and
Secretary.
Qualifications: Any member in good standing is qualified to be
become members of the committee, provided, he/she is not an
officer of the cooperative.
Term of Service: Members of the committee may serve for a
term of two (2) years. In case of vacancy, the Board may appoint
a qualified member to fill in the vacant position. The BOD shall
appoint from the management staff through the General
Manager a Conciliator-Mediator Coordinator, whose term and
functions are prescribed in this rule.
Likewise, a pool of
conciliator-mediator shall be established to aid the conciliationmediation proceedings and for such other functions provided by
law. In case conciliation-mediation fails in the level of the
cooperative the same may be brought to the Federation or Union
wherein the cooperative is affiliated or in the Municipal
Cooperative Development Council wherein the cooperative
operates.
Section 24.
Ethics Committee The Ethics Committee shall be
composed of such number as may be determined by the
Board and appointed by it for a term of two (2) years,
without prejudice to their reappointment.
The
Committee shall be responsible in ensuring that all
officers, staff, and members of the cooperative act with
utmost
professionalism,
integrity,
morality
and
nationalism.
Section 25. Other Committees Other committees maybe formed
and/or created and their powers/functions defined by the Board
as the business and operations of cooperative may require. The
said committees shall assist the Board of Directors in the
implementation of the cooperative development program.
Section 26.
Qualifications and Disqualifications for Committee
Members The qualifications and disqualifications provided for
the Board of Directors shall also be applied to the members of
the Audit Committee and the Election Committee.
Section 27.

Officers and their Duties

Officers of the Cooperatives shall include the

members of the board of directors, members of the
different committees created by the general assembly,
general manager, secretary, treasurer and accountant.
CHAIRMAN - The Chairman shall:
1. Preside over all meetings of the cooperative and of the Board of
Directors;
2. Perform any and all acts and duties usually performed by a presiding
officer;
3. Sign all share certificates, revolving fund certificates, contracts and
such other papers of the cooperative which the Board may authorize or
direct him to sign; and
4. Perform such other duties as the Board of Directors may prescribe.

However, in case of death, resignation or removal of the

Chairman, the Board of Directors may decide to elect his successor.
VICE CHAIRMAN In the absence or disability of the Chairman, the ViceChairman shall perform the duties of the Chairman or until such time a
new chairman has been elected and qualified.
TREASURER The Treasurer shall have the following duties:
1. Take custody of all monies, securities and papers of the cooperative;
2. Keep complete records of its cash transactions for the establishment of
proof of his cash position at any given time and date.
3. Pay upon the recommendation of the manager or as authorized by the
Board of Directors, all money transaction and certify to the correctness of
the cash position of the Cooperative Development Authority;
4. Turn over all monies securities, papers, books and other properties
belonging to the cooperative that he may have in his possessions upon
election of his successor;
5. Post an adequate bond, to assure the faithful performances of his
duties; and
6. Perform the duties of the Secretary in the latters absence or inability to
perform his duties.
SECRETARY The Secretary shall have the following duties:
1. Keep a complete list of all the members and maintain a correct record
of all meetings of the Board of Directors and general assembly;
2. Give notices of all meetings called;
3. Keep and maintain the stock and Transfer Book and serve as the
custodian of the corporate seal of the cooperative;
4. Turn over to his successor all books and other properties in belonging to
the cooperative that he may have in his possession; and
5. Perform the duties of the Treasurer in the latters absence or inability to
perform his duties.
Section 28. Management Staff The Board of Directors shall appoint
the
members of the Management Staff, fix their compensation and
tenure.
GENERAL MANAGER No person shall be appointed to the position of
general manager unless he possesses the following qualifications and
none of the disqualifications herein below enumerated:
1. He must be familiar with the business operation of the cooperative;
2. He must be at least a college graduate;
3. He must have at least two years experience in cooperative or related
business;
4. He must be honest and must have a deep sense of responsibility;
5. He must not be engaged directly or indirectly in any business similar to
that handled by the cooperative;

6. He must not have been convicted of moral turpitude, gross negligence

or grave misconduct in the performance of his duties;
7. He must not be addicted to any form of gambling or immoral or vicious
habits; and
8. He must be willing to undergo pre-service and/or in-service-trainings.
Duties of the General Manager:
1. The General Manager shall, under policies set by the General Assembly
and the Board of Directors, have general charge of all the phases of the
business operations of the cooperative. Upon the appointment of his
successor, he shall turn over to him all monies and properties belonging
to the cooperative which he has in his possessions or over which he has
control;
2. He shall maintain his records and accounts in such manner that the
true and correct condition of the business of the cooperative may be
ascertained therefrom at any time. He shall render annual and periodic
statements and reports in the form and manner prescribed by the Board
of Directors, and preserve the books, documents, correspondence and
records of whatever kind pertaining to the business which may come into
his possession;
3. He may employ, supervise and dismiss any agent and employee in the
management force subject to the policies of the Board of Directors;
4. Post an adequate bond to assure the faithful performance of his duties.
ACCOUNTANT - No person shall be appointed to the position of accountant
unless he possesses the following qualifications and none of the
disqualifications herein below enumerated:
1. Must be at least a Commerce graduate, major in accounting;
2. Must have at least two (2) years experience in cooperative or related
business;
3. Must be honest and must have a deep sense of responsibility;
4. Must not engage directly or indirectly in any business similar to that
handled by the cooperative;
5. Must not have been convicted of any administrative or criminal case
involving moral turpitude, gross negligence or grave misconduct
in the performance of his duties;
6. Must not be addicted to any form of gambling or immoral or vicious
habits; and
7. Must be willing to undergo pre-service and/or in-service training.
Duties of the Accountant:
1. Install an adequate and effective accounting system in the cooperative;
2. Render monthly reports to the Board of Directors on the financial
conditions and operations of the cooperative and annual
reports to the general assembly or as may be required;
3. Coordinate with the Manager and Audit Committee in assisting the
Board in the operation of the annual budget; and
4. Assist the Chairman in the preservation of the books of account,
document, vouchers, contracts and records or whatever kind

pertaining to the business of the cooperative which may come

to his possession.
Section 29. Liabilities of Directors, Officers and Committee Members
Directors, officers and committee members, who willfully and
knowingly vote for or assent to patently unlawful acts or who are
guilty of gross negligence or bad faith in directing the affairs of
the cooperative or acquire any personal or pecuniary interest in
conflict with their duties as such directors, officers or committee
members shall be liable jointly and severally for all damages or
profits resulting there from to the cooperative, members and
other persons.
When a director, officer or committee member attempt to
acquire or acquire, in violation of their duty, any interest or
equity adverse to the cooperative in respect to any matter which
has been reposed in them in confidence, they shall, as a trustee
for the cooperative, be liable for damages and for double profits
which otherwise would have accrued to the cooperative.
Section 30. Compensation - The members of the Board and Committees
may, in addition to per diems for actual attendance in board and
committee meetings, and reimbursement for actual and
necessary expenses while performing functions in behalf of the
cooperatives, be given regular compensation by a majority vote
of the members at a regular or special general assembly called
for the purpose.
ARTICLE 4
CAPITAL STRUCTURE
Section 1. Source of Funds The cooperative shall derive its funds from:
1. Share capital;
2. Deposits;
3. Revolving capital
4. Capital reserve;
5. Loan capital;
6. Subsidies, grants and donations; and
7. Other sources of funds authorized by law.
Section 2. Continuous Capital Build-Up - Every member shall invest at
least Php 400.00 a month in the share capital of the cooperative.
Section 3. Deposits The cooperative shall receive two (2) kinds of
deposits:
1. Saving Deposits Any member, in addition to his share capital
investment, may open a saving deposit, the rate of interest of
which shall be determined by the Board at the beginning of each
fiscal year. Savings deposits not falling below Php 1,000 during
any calendar month shall be entitled to interest computed
quarterly based on the lowest monthly balance. The interest shall
be credited to the depositors account, and shall earn interest from
the date it is credited.

The Board of Directors shall prescribe the rules and regulations

governing withdrawals from the savings deposits.
2. Time Deposits Deposits for a fixed period of time and for a fixed
rate of interest may be accepted by the cooperative. The Time
Deposits Certificates in the form prescribed by the Board of
Directors evidencing the deposits shall be issued to depositors.
Section 4. Revolving Capital The cooperative may adopt a scheme for
generating capital through deferment of the payment of interest
on capital and patronage refund for fixed period not exceeding
two years each time, and the rate of interest consistent with laws
and other regulations.
Section 5. Borrowing - The cooperative, through the Board of Directors
with the approval of the general assembly, may borrow money
from any other sources at the best terms and conditions
available and in such amount that may be needed.
Section 6. Share Capital - The term share shall refer to a unit of capital,
the value of which is Php 100.00. Serially numbered certificates
of the cooperative shall be issued to each member upon full
payment of the subscription, and for subsequent shares as they
are paid for. The Certificate shall contain the shareholders name,
the number of shares owned, the par value and duly signed by
the Chairman and the Secretary, and bearing the official seal of
the cooperative. All issues and transfers shall be registered in the
stock transfer book.
The shares may be purchased, owned and held only by
persons who are eligible for membership. Interest may be paid
only on the paid-up capital at the rate prescribed by the CDA and
interest may be in cash, or credited toward payment of
subscription or outstanding accounts, or additional shares or to
the revolving fund of the cooperative.
Section 7. Transfer of Shares
1. The cooperative shall have the first option to any share offered for
sale. The amount to be paid for such shares shall be the par
value or book value which ever is lower.
2. If the cooperative is not in a position or otherwise refuses to
purchase such shares, the member shall have the right to sell
them to any person eligible for membership in the cooperative.
3. A member shall not transfer any share held by him or interest in the
cooperative or any thereof, unless:
a. He has held such shares or interest for at least one year;
b. The transfer is made to a member of the cooperative or
to a person who falls within the field of membership of
the cooperative, provided said person is acceptable to the
cooperative; and
c. The Board of Directors has approved such transfer.
4. Transfer of shares shall not be binding to the cooperative until such
transfer has been registered in its Stock and Transfer Book. No
transfer shall be completed until the old certificates shall have
been endorsed and surrendered and a new certificate issued in
the name of the member. The last transferee, if a new member,

shall pay the required membership fee. A transfer fee of Php

100.00 shall be charged.
5. In the case of loss or destruction of a certificate of stock, another
may be issued in its place to the owner thereof after executing
an affidavit in triplicate setting forth the following:
a. Circumstances as to how, when and where said
certificate was lost or destroyed;
b. The number of shares represented by the certificate;
c. The serial number of the certificate; and
d. The lost or destroyed certificate has never been
transferred, sold or endorsed to any third party and that
should the same be found, the owner shall surrender it to
the cooperative.
e. A replacement fee shall be charged to the member.
Any false representation or statement made in the aforesaid
affidavit shall be a ground for expulsion from the cooperative.

ARTICLE 5
OPERATION
Section 1. The cooperative is organized to provide its members with quality
goods and services requirements and to operate an enterprise that will
provide needed goods and services to the members and/or community.
In either case, the cooperative shall be operated primarily to ensure
efficient and reliable services at competitive prices.
Section 2. For purposes of ensuring efficient and reliable service, the
cooperative shall accept only qualified persons presently engaged in
the same or similar service or persons who can be trained for the
technical competence required by services, maintain standards of
equality befitting the status of its clientele, exercise close supervision
over its members-workers and conduct periodic and continuing to
develop the skills and update the competence of its members-workers.
Section 3. Loans may be granted to members for providential or productive
purpose.
Section 4. The cooperative will engage in canteen operations within DLSUDasmarias.
Section 5. The cooperative shall mobilize the resources of its members for
capital formation toward financing other services needed by them and
the community.

Section 6.
Services over and above profit shall be the overriding
consideration of the cooperative in the pursuit of its goals and in the
operation of its business.

ARTICLE 6
ALLOCATION AND DISTRIBUTION OF NET SURPLUS
Section 1. At the end of the fiscal year, the cooperative shall distribute its
net surplus as
follows:

1. Ten percent (10%) shall be set aside for the reserve fund.
a. The reserve fund shall be used for the stability of the
cooperative and meet net loss in its operations. The general
assembly may decrease the amount allocated to the reserve
fund when the reserve fund already exceeds the share capital.
Any sum recovered on items previously charged to
the reserve fund shall be credited to such fund.
b. The reserve fund shall not be utilized for investment, other
than those allowed in the Cooperative Code. Such sum of the
reserve fund in excess of the share capital may be used at
anytime for any project that would expand the operations of
the cooperative upon the resolution of the general assembly.
c. Upon the dissolution of the cooperative, the reserve fund shall
not be distributed among the members.
The general assembly may resolve:
1.) To establish usufructuary fund for the benefit of any
federation or union to which cooperative is affiliated; and
2.) To donate, contribute, or otherwise dispose of the amount
for the benefit of the community where the cooperative
operates. If the member cannot decide upon the disposal of
the reserve fund, the same shall go to the federation or union
to which the cooperative is affiliated.
2. Ten percent (10%) for the education and training fund.
a. Seventy percent (70%) of the amount transferred to the
education and training fund annually under this subscription
may be spent by the cooperative for education and training and
other purposes; and thirty percent (30%) shall be credited to
the cooperative education and training fund of the Apex
organization of which the cooperative is a member.
b. Upon the dissolution of the cooperative, the unexpended
balance of the education and training fund appertaining to the

cooperative shall be credited to the cooperative education and

training fund of the above mentioned Apex organization.
3. Seven percent (7%) for land and building fund.
4. Three percent (3%) for community development fund.
5.

The remaining net surplus shall be made available to the

members in the form of interest on share capital not exceeding the
normal rate of return on investment prescribed by CDA and
patronage refunds.
The sum allocated for patronage refunds shall be made
available at the same rate to all patrons of the cooperative in
proportion to their individual patronage; provided that:
a. In the case of member patron with paid-up share capital
contribution, his proportionate amount of patronage refund
shall be paid to him unless he agrees to credit the amount to
his account as additional share capital contribution;
b. In the case of member patron with unpaid share capital
contribution, his proportionate amount of patronage refund
shall be credited to his account until his share capital
contribution has been fully paid.
c. In the case of non-member patron, his proportionate amount
of patronage refund shall be set-aside in a general fund for
such patrons and shall be
allocated to individual non-member patrons only upon request
and
representation of evidence of the amount of his patronage. The
amount so allocated shall be credited to such patron towards
payment of the minimum capital contribution for membership.
When a sum equal to his amount has accumulated at any time
within a period of two years such patron shall be deemed a
member of the cooperative if he so agrees or request and
complies with the provisions of these by-laws for admission to
membership.
d. If within the period of time specified in these laws, any
subscribers who has not fully paid his subscribers share capital
or any non-member patron who has accumulated the sum
necessary for membership but who does not request nor agree
to become a member or fails to comply with these provisions of
the by-laws for admission to membership, the amount so
accumulated or credited to their account together with any part
of the general fund for non-member patrons shall be credited to
the serve fund or to the education and training fund of the
cooperative, at the option of the general assembly.
ARTICLE 7
MISCELLANEOUS

Section 1. Investment of Capital A cooperative may invest its capital

in any of the following:
1. In any reputable bank in the locality, or any cooperative;

2. In securities issued or guaranteed by Government;

3. In real state primarily for the use of the cooperative or its
members; or
4. In any other manner approved by the general assembly.
Section 2. Books of Accounts The cooperative shall keep and maintain
adequate books of account in accordance with generally
accepted accounting principle and practices applied consistently
from year to year subject however, to the provisions of R.A.
9520
Section 3. Audit - At least once a year, the Board of Directors shall in
consultation with the Audit Committee cause the audit of the
books of account of the cooperative.
Section 4. Annual Report - The cooperative shall make an annual report of
its financial affairs to its members at the general assembly
together with the audited financial statement. The report and
statements shall be certified by the Chairman, Treasurer,
Manager and other responsible officers of the cooperative as true
and correct in all aspects to the best of their knowledge.
Copy of the annual report together with the audited
financial statement shall be submitted to the CDA within 60 days
from the end of the fiscal year.
Section 5.

Accounting Systems - Unless otherwise prescribed by the

CDA, the cooperative shall adapt the generally accepted
accounting procedures and practices, taking into consideration
the cooperative principle and practices.

ARTICLE 8
SETTLEMENT OF DISPUTES
Section

1. Mediation and Conciliation Procedures. As deemed

practicable, all intra-cooperative disputes shall be settled within
the Cooperative. If amicable settlement is not feasible, unless
modified or amended by the general assembly, the following
rules and procedures shall govern all conciliation processes
within the cooperative:
1. Parties to a complaint. The party who files a complaint
shall be called the Complainant and the party
being charged shall be called the Respondent.
2. Who may file a complaint. Any member who has a cause of
action against any member, officer or member of any
committee, or of the Board of Directors shall file a written
complaint, and in such numbers as there are respondents, to
the Secretary of the Conciliation Committee, stating the
following:

a. Name, address, position in the cooperative

and status of membership of the
complainant and the respondent/s, if
known;
b. Brief statement of facts and circumstances
which caused the commission or omission
of the act complained of;
c. Rights violated and evidence or testimony
of witnesses; and
d. Prayer which shall state the relief sought
and such other relief as may be deemed
just and equitable.
3. Baseless complaints. Within seven (7) days from receipt of
the complaint, the Conciliation Committee shall
determine the merit of the complaint. If upon its sound
discretion, the complaint is found to be baseless or
without merit, it may out rightly dismiss the same and
inform the complainants in writing, expressly stating the
legal and factual basis of its decision.
4. Valid cause of action. If the complainant states a valid
cause of action, the Committee shall forthwith inform in
writing the respondent/s, providing him a copy of the
complaint, and directing him to submit his answer
within ten working (10) days from receipt thereof. The
Committee Chairman may upon written request, extend
the period within which to file his answer provided that
it shall not exceed ten working (10) days.
5. Withdrawal of complaint. At any time before judgment, the
Complainant may, in writing, withdraw his complaint or
enter into a compromise agreement and the case shall
be considered dismissed or settled, as the case may be.
6. Answer. In his answer, the respondent shall specifically admit
or deny, or deny only a part of any averment in the
complaint. He shall set forth the substance of the
matters upon which he relies to support his denial. If he
denies only a part of the averment, he shall specify so
much of it as it is true and deny the remainder. He may
also state that he had no sufficient knowledge as to the
truth of a certain matter alleged in the complaint and
this shall have the effect of denial. Any averment in the
complaint not specifically denied shall be deemed
admitted.
7. Preliminary conference. Within seven (7) working days
upon receipt of the answer, the Committee shall set a
preliminary conference whereby only the parties are
invited for possible amicable settlement. If no
settlement is made, the Chairman of the committee
may, at his discretion or upon the request of either
party, set another conference which shall not be later
than ten (10) working days. Any party may waive his
right to a preliminary conference and instead move in
writing for a formal hearing. In which case, the
Chairman of the committee shall set a date, time and
place of hearing and the Secretary shall notify in writing

the parties at least three (3) working days before the

date fixed.
8. Manner of hearing. The Committee may adopt any manner
of hearing that best serves the purpose of resolving the
dispute objectively, fairly and amicably. The Committee
shall always exert all possible efforts to settle the
disputes or encourage the parties to enter into a
compromise agreement. The Committee may schedule
a series of hearings until the parties shall have
completed the presentation of their respective
evidence. After which, it shall decide the case within
fifteen (15) working days from the date of the last
hearing, categorically stating the legal and factual basis
of its decision.
9. Appeal to the Board of Directors. Any party to a
controversy may appeal to the Board of Directors within
fifteen (15) working days from receipt of a copy of the
decision. After the expiration of the period to appeal,
the decision of the committee shall become final and
executory and can no longer be reopened, except when
the appealing party can show proof that the decision is
patently erroneous or obtained through fraud, accident,
mistake and gross negligence, or the Committee has
committed grave abuse of discretion.
10. Decision of the Board. Within thirty (30) working days from
receipt of the records of the case, the Board of
Directors, constituting a quorum, shall review and
decide the case, specifically stating the reasons and
basis of its decision. The parties may be summoned to
appear before the Board of Directors to clarify certain
matters, or to submit additional evidence.
11. Appeal to the General Assembly. The decision of the
Board of Directors may be appealed to the general
assembly whose decision shall be final, save those
reserved to the adjudicatory powers of the Cooperative
Development Authority as provided under the
Cooperative Code of the Philippines and other existing
rules and laws.
Section

2. Disputes Involving Members of the Conciliation

Committee and Board of Directors. If one of the parties to a
controversy is a member of the Conciliation Committee, the
chairman shall endorse the case to the Board of Directors who
shall resolve the case following the procedures prescribed in the
preceding section.

If one or both parties are members of the Board of Directors and

the Conciliation Committee, the Chairman of the committee shall

communicate in writing such fact to the Chairman of the Board of

Directors who shall forthwith call a special board meeting to form a
five-man Special Conciliation Committee, consisting of the heads
of Audit and Election Committees, the Secretary and one
representative of each party. The special committee shall convene
immediately and after electing from among themselves the
Chairman, Vice-Chairman and the Secretary, proceed to resolve
the case in accordance with the procedures prescribed in the
preceding section. The committee shall automatically cease to
exist upon the final resolution of the controversy.
ARTICLE 9
AMENDMENTS
Section 1. Amendments Amendment to the Article of Cooperation and
these by-laws may be adopted by two third (2/3) vote of the
members in good standing present at any annual or special
general assembly called for the purpose.
The amendments shall take effect upon receipt by the
cooperative of the corresponding Certificate of Registration
issued by the CDA.
Voted and adopted during the special general assembly
on December16, 2009 in De La Salle University Dasmarias,
Cavite.
We, the undersigned, constituting a majority of the Board
of Directors of the De La Salle University Dasmarias
Development Cooperative do hereby certify the foregoing
instrument is the code of by-laws of the Cooperative.

JOSE R. DOMINGO, JR.

Chairman

CRISPINA R. CORPUZ
Vice-Chairman

JAN PHILLIP D. MALLARI

SONIA M. GEMENTIZA

Director

Director

EDITO BUSAYONG

DEODORO ABIOG II

Director

Director

MARIANO THOMAS S. RAMIREZ

Director

ARTICLES OF COOPERATION OF THE

DE LA SALLE UNIVERSITY DASMARIAS DEVELOPMENT
COOPERATIVE
(As Amended)
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned, Filipino citizens and residents of the Philippines,
have on this day voluntarily associated ourselves, for the purpose of forming
a primary multi-purpose cooperative under the laws of the Philippines,
more particularly RA. 9520.
AND WE HEREBY CERTIFY:
ARTICLE 1
NAME OF THE COOPERATIVE
That the name of the cooperative shall be:
DASMARIAS DEVELOPMENT COOPERATIVE

DE LA SALLE UNIVERSITY

ARTICLE 2
OBJECTIVES AND PURPOSES
That the objectives and purposes for which this cooperative is formed
are:
1. To provide members equal opportunities to serve and be
served efficiently and effectively;
2. To strengthen the spirit of cooperation and unity through
active participation, continuous patronage and assumption of
responsibility by every member in both business and nonbusiness affairs of the cooperative;
3. To value every individual member as a significant part of the
cooperative and maximize his/her capacity for the advancement
through self-help and mutual help;
4. To provide continuous education and training of members for
deeper involvement and greater productivity;
5. To distribute the benefits on the basis of contribution,
participation, and patronage; and
6. To undertake other activities for the effective and efficient
implementation of the provisions of the Cooperative code.
7. To undertake canteen operations with in DLSU-Dasmarias.
In the furtherance of and not in limitation of the general powers
conferred by the laws of the Philippines and the objectives and
purposes set forth, his cooperative shall have the following powers:
1. To draw, make, accept, endorse, guarantee, execute and issue
promissory notes, mortgage, bills of exchange, drafts,
warrants, certificates and all kinds of obligations and
instruments in connection with and furtherance of its business
operations;
2. To issue bonds, debentures and other obligations of the
cooperative, to contract indebtedness and to secure the same

with herein mortgage or deed of trust, or pledge or lien on any

or all of the real and personal properties of the cooperative.
3. To acquire facilities, either by or through, construction,
purchase, lease, bequest or donation.
For the purpose of attaining or furthering any or all of the
objectives and purposes herein stated, to do any other act and to
exercise any other power which a natural person could do and
exercise and which now or hereafter may be authorized by law.

ARTICLE 3
AREA OF OPERATION
That the area of operation of this cooperative shall be in Dasmarias,
Cavite and its principal office shall be located or established at the De La
Salle University - Dasmarias.
ARTICLE 4
TERM OF EXISTENCE
That the term of existence for which this cooperative shall exist is 50
years from and after the date of its incorporation.

ARTICLE 5
NAMES, CITIZENSHIP AND ADDRESSES OF COOPERATORS
That the names, citizens and addresses of the cooperators are as
follows:
NAME

CITIZENSHI
P

POSTAL ADDRESS

1. JOSE R. DOMINGO, JR.

Filipino

201 B BANAYBANAY, AMADEO, CAVITE

2. JING R. REYES

Filipino

BLK 7, LOT 26 CITY HOMES RESORTVILLE,

DASMARIAS, CAVITE

3. SONIA M. GEMENTIZA

Filipino

BLK 44 , LOT 16 BAHAY PANGARAP 2000

SAMPALOC IV, DASMARIAS, CAVITE

4. LOIDA R. ILANO

Filipino

352 TANZANG LUMA V, IMUS CAVITE

5. JACQUELINE L. MORTA

Filipino

BLK 7, LOT 6 PHASE I, PERPETUAL VILLAGE

BACOOR, CAVITE

6. ARNEL G. SANCHEZ

Filipino

BLK 25, LOT 18 BUENOS AIRES SUMMERWIND

DASMARIAS, CAVITE

7. EFREN P. RAFAEL

Filipino

SATELLITE I, SAN JOSE

DASMARIAS, CAVITE

8. ZENAIDA R. BRAZOS

Filipino

BLK 4, LOT 9 HAUSKON HOMES

BUROL I, DASMARIAS, CAVITE

9. SULPICIO B. REYES

Filipino

BALABAG, MAHABANG KAHOY, LEJOS

INDANG, CAVITE

10.JOVENCITO Z. YAEZ

Filipino

35 DON PLACIDO CAMPOS AVENUE

DASMARIAS, CAVITE

11. RHODORA D. ESPIRITU

Filipino

BLK 11 006 CHERRY STREET

BRGY. SUNVALLEY, PARAAQUE CITY

12. HENRY L. BERNARDO

Filipino

152 PALMETTO, WOODESTATE VILLAGE 2

MOLINO 3, BACOOR, CAVITE

13. FELINORE H. VALERA

Filipino

BLK 27 LOT 1 SPARROW ST SOUTHCREST

VILLAGE, DASMARIAS, CAVITE

14. TERESITA M. TALAMERA

Filipino

BLK 4, LOT 7 ORIOLE STREET

SOUTHCREST, DASMARIAS, CAVITE

15. ALMARIO P. VELASCO

Filipino

29 LEGASPI STREET, ALABANG HILLS

MUNTINLUPA CITY

16. MONINA A. REMULLA

Filipino

352 TANZANG LUMA, IMUS, CAVITE

17. EVANGELINE C. RUGA

Filipino

BLK 11, LOT 65 SAN MARINO CITY

SALAWAG, DASMARIAS, CAVITE

18. ISABELITA C. CELESTINO

Filipino

GABRIELA HILLS SUBDIVISION, TUBUAN

SILANG, CAVITE

19. REY M. GARRIDO

Filipino

195 BANAYBANAY, AMADEO, CAVITE

20. EDUARDO RUBI II

Filipino

BLK 2, LOT 5 BAHAY PANGARAP 2000

DASMARIAS, CAVITE

21. ARMANDO BAARES

Filipino

31 NARRA STREET, WOODSTATE VILLAGE

SAN JOSE, DASMARIAS, CAVITE

22. DENNIS B. MALDO

Filipino

BLK 1, LOT 80 EARTH STREET CITYHOMES

DASMARIAS, CAVITE

23. MARY JANE V. SAPIENDANTE

Filipino

BLK 82, LOT 20, BRGY. SAN ESTEBAN

DASMARIAS, CAVITE

24. BELINDA C. NARVAEZ

Filipino

305 F NARVAEZ STREET, SAN AGUSTIN I

DASMARIAS, CAVITE

25. MARY MAY C. EULOGIO

Filipino

FALCON STREET, SARREAL SUBD.

IMUS, CAVITE

26. MADISON B. VALERA

Filipino

BLK 27, LOT SOUTHCREST

DASMARIAS, CAVITE

27. NIEVES G. SERVIDA

Filipino

BLK 14, LOT 1A GOLDENVILLE I

SABANG, DASMARIAS, CAVITE

28. IMELDA J. DUMAUAL

Filipino

BLK 9, LOT 17, SOLDIER HILLS IV PH I,

MOLINO, BACOOR, CAVITE

29. ORLANDO B. TIANGCO

Filipino

BLK 15, LOT 4 SOUTHERN CITY I SUBD.

IMUS, CAVITE

30. RICARDO T. SANTIAGO

Filipino

BLK 1, LOT 2, PHASE II ANDREAVILLE

EXECUTIVE HOUSE, DASMARIAS, CAVITE

31. ZENIA M. MADLANSACAY

Filipino

01 BANAYBANAY, AMADEO, CAVITE

32. EVANGELINE M. MERCADO

Filipino

B. REYES STREET BRGY I

SILANG, CAVITE

33. CRISTINA E. SAYOTO

Filipino

5 SAN AGUSTIN, DASMARIAS, CAVITE

34. SIEGFRED GAMUEDA

Filipino

SAN JUAN EXT. STREET, DASMARIAS, CAVITE

35. JANIS ANNE MOJICA

Filipino

2120 SGT. REALICA STREET

BINAKAYAN, KAWIT, CAVITE

36 FEDERICO BESA, JR.

Filipino

SAN JOSE, TAGAYTAY CITY

37. RONALDO L. LUBIANO

Filipino

REYES STREET, DALAHICAN,

CAVITE CITY

38. CYNTHIA N. CAMARCE

Filipino

28 E GONZALES, SILANG, CAVITE

39. MA. LOURDES E. CALVARIO

Filipino

BLK 15, LOT 7 AREA S

QUEENS ROW SUBD. BACOOR, CAVITE

40. DAVE ANTENOR-CRUZ

Filipino

224 AGUINALDO HI WAY, KM 28 DASMARIAS,

CAVITE

41. CHRISTIAN M. ARIETE

Filipino

1168 QUEENSROW EAST SUBD

BACOOR, CAVITE

42. ANNIE P. SASIS

Filipino

BLK 10, LOT 3 STRAWBERRY STREET

MANDARIN HOMES II, DASMARIAS, CAVITE

43. VERNON HIMOR, JR.

Filipino

SAN JUAN STREET, ZONE 1

DASMARIAS, CAVITE

44. MARIE JOIE LOBO

Filipino

LOT 14, KALAYAAN AVENUE EXT.

WEST REMBO, MAKATI CITY

ARTICLE 6
COMMON BOND OF MEMBERSHIP
That the common bond of membership of this cooperative is
institutional and the field of membership shall be open to all De La Salle
University Dasmarias employees provided that the prospective members
shall:
1. Pledge to fulfill the responsibilities of members;
2. Complete the prescribed pre-membership education seminar; and
3. Use or anticipate to use the services of the cooperative.
ARTICLE 7
BOARD OF DIRECTORS
That the number of directors of this cooperative shall be seven (7) and
the names, citizenships, residences of these directors who are to serve until
their successors are elected and qualified as provided in the by-laws are:
NAME

CITIZENSHIP

RESIDENCE

JOSE R. DOMINGO, JR.

Filipino

201 B BANAYBANAY, AMADEO, CAVITE

JING R. REYES

Filipino

BLK 7, LOT 26 CITY HOMES RESORTVILLE,

DASMARIAS, CAVITE

RICARDO T. SANTIAGO

Filipino

BLK 1, LOT 2, PHASE II ANDREAVILLE

EXECUTIVE HOUSE, DASMARIAS, CAVITE

TERESITA M. TALAMERA

Filipino

BLK 4, LOT 7 ORIOLE STREET

SOUTHCREST, DASMARIAS, CAVITE

MARY MAY C. EULOGIO

Filipino

FALCON STREET, SARREAL SUBD.

IMUS, CAVITE

JOVENCITO Z. YAEZ

Filipino

35 DON PLACIDO CAMPOS AVENUE

DASMARIAS, CAVITE

ALMARIO P. VELASCO

Filipino

29 LEGASPI STREET, ALABANG HILLS

MUNTINLUPA CITY

ARTICLE 8
CAPITALIZATION
That the authorized share capital of the cooperative is THIRTY
MILLION PESOS (Php30,000,000.00) and said capital is divided into
262,500 common shares and 37,500 preferred shares with a par value of
ONE HUNDRED PESOS (Php 100.00).
ARTICLE 9
SUBSCRIBED CAPITAL AND PAID-UP
That the authorized share capital is THIRTY MILLION PESOS (Php
30,000,000.00), FIFTEEN MILLION PESOS (Php 15,000,000.00) has
been subscribed and the amount paid on such subscription is
FIFTEEN MILLION PESOS(Php 15,000,000.00) and that the following
members have subscribed and paid for the number of shares and the
amount of share capital set out after their respective names:
BE IT KNOWN THAT:
Eden Cabrera has been appointed as Treasurer of the cooperative and
is expected to act as such until her successor is duly appointed and qualified
in accordance with the by-laws and that as the Treasurer, she is authorized to
receive for the cooperative and to issue receipts in the name of the
Cooperative for all subscriptions/shares paid in by the subscriber-members.
IN WITNESS WHEREOF, we have hereunto set our hands this 1st day
of August, 2003 at Dasmarias, Cavite.

Names and Signatures of Cooperators

NAME OF MEMBERS

SIGNATURE OF MEMBERS

1. JOSE R. DOMINGO, JR.

SGD.

2. JING R. REYES

SGD.

3. SONIA M. GEMENTIZA

SGD.

4. LOIDA R. ILANO

SGD.

5. JACQUELINE L. MORTA

SGD.

6. ARNEL G. SANCHEZ

SGD.

7. EFREN P. RAFAEL

SGD.

8. ZENAIDA R. BRAZOS

SGD.

9. SULPICIO B. REYES

SGD.

10.JOVENCITO Z. YAEZ

SGD.

11. RHODORA D. ESPIRITU

SGD.

12. HENRY L. BERNARDO

SGD.

13. FELINORE ANGELICA H. VALERA

SGD.

14. TERESITA M. TALAMERA

SGD.

15. ALMARIO P. VELASCO

SGD.

16. MONINA A. REMULLA

SGD.

17. EVANGELINE C. RUGA

SGD.

18. ISABELITA C. CELESTINO

SGD.

19. REY M. GARRIDO

SGD.

20. EDUARDO RUBI II

SGD.

21. ARMANDO BAARES

SGD.

22. DENNIS B. MALDO

SGD.

23. MARY JANE V. SAPIENDANTE

SGD.

24. BELINDA C. NARVAEZ

SGD.

25. MARY MAY C. EULOGIO

SGD.

26. MADISON B. VALERA

SGD.

27. NIEVES G. SERVIDA

SGD.

28. IMELDA J. DUMAUAL

SGD.

29. ORLANDO B. TIANGCO

SGD.

30. RICARDO T. SANTIAGO

SGD.

31. ZENIA M. MADLANSACAY

SGD.

32. EVANGELINE B. MERCADO

SGD.

33. CRISTINA E. SAYOTO

SGD.

34. SIEGFRED GAMUEDA

SGD.

35. JANIS ANNE MOJICA

SGD.

36 FEDERICO BESA, JR.

SGD.

37. RONALDO L. LUBIANO

SGD.

38. CYNTHIA N. CAMARCE

SGD.

39. MA. LOURDES E. CALVARIO

SGD.

40. DAVE ANTENOR-CRUZ

SGD.

41. CHRISTIAN M. ARIETE

SGD.

42. ANNIE P. SASIS

SGD.

43. VERNON HIMOR, JR.

SGD.

44. MARIE JOIE LOBO

SGD.

TREASURERS AFFIDAVIT
Republic of the Philippines:
Province / City / Municipality of (Dasmarias, Cavite)s.s.
I, Eden Cabrera after being duly sworn in accordance with law depose
and say:
That I as the duly elected Treasurer of the De La Salle University
Dasmarias Faculty Development Cooperative, and act as such until my
successor shall have been elected and qualified in accordance with the ByLaws of the cooperative;
That as such Treasurer, I am authorized to receive for the Cooperative
all membership fees and subscriptions paid in by the members;
That the authorized share capital is Thirty Million Pesos (Php
30,000,000.00), Fifteen Million Pesos (Php 15,000,000.00) has been
subscribed and the amount paid on such subscription is Fifteen Million Pesos
(Php 15,000,000.00) has been actually paid to me in trust and received by
me for the benefit and to the cooperative and that at least 25% of the
authorized share capital has been subscribed and at least 25% of the
subscription has been actually paid to me and that the total membership
fees paid is Thirty Eight Thousand Seven Hundred Pesos (Php 38,700).

MS. EDEN C. CABRERA

Treasurer
SUBSCRIBED AND SWORN TO before me this ___ day of _______ at
Dasmarias City, affiant exhibiting to me her Residence Certificate no.
___________ issued on __________________ at Dasmarias City.

____________________________
NOTARY PUBLIC
Until December 20_____

Doc. No. ____________________

Page No. ____________________
Book No. ____________________
Series of 20________