Credit services and other financial services n

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credit services and other financial services; "(n) Fishermen Cooperative is one organized by marginalized fishermen in localities whose products are marketed either as fresh or processed products; "(o) Health Services Cooperative is one organized for the primary purpose of providing medical, dental and other health services; "(p) Housing Cooperative is one organized to assist or provide access to housing for the benefit of its regular members who actively participate in the savings program for housing. It is coowned and controlled by its members; "(q) Insurance Cooperative is one engaged in the business of insuring life and poverty of cooperatives and their members; "(r) Transport Cooperative is one which includes land and sea transportation, limited to small vessels, as defined or classified under the Philippine maritime laws, organized under the provisions of this Code; "(s) Water Service Cooperative is one organized to own, operate and manage waters systems for the provision and distribution of potable water for its members and their households; "(t) Workers Cooperative is one organized by workers, including the selfemployed, who are at same time the members and owners of the enterprise. Its principal purpose is to provide employment and business opportunities to its members and manage it in accordance with cooperative principles; and "(u) Other types of cooperative as may be determined by the Authority. "(2) Categories of Cooperative – Cooperatives shall be categorized according to membership and territorial considerations as follows: "(a) In terms of membership, cooperative shall be categorized into: "(i) Primary – The members of which are natural persons; "(ii) Secondary – The members of which are primaries; and "(iii) Tertiary – The members of which are secondary cooperatives; and "(b) In terms of territory, cooperatives shall be categorized according to areas of operations which may or may not coincide with the political subdivisions of the country. "ART. 24. Functions of a Federation of Cooperatives. – A federation of cooperatives shall undertake the following functions: "(a) To carry on any cooperative enterprise authorized under Article 6 that complements augments, or supplements but does not conflict, complete with, nor supplant the business or economic activities of its members; "(b) To carry on, encourage, and assist educational and advisory work relating to its member cooperatives; "(c) To render services designed to encourage simplicity, efficiency, and economy in the conduct of the business of its member cooperatives and to facilitate the implementation of their bookkeeping, accounting, and other systems and procedures; "(d) To print, publish, and circulate any newspaper or other publication in the interest of its member cooperatives and enterprises; "(e) To coordinate and facilitate the activities of its member cooperatives; "(f) To enter into joint ventures with national or international cooperatives of other countries in the
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  • Fall '15
  • Cooperative, General Assembly, R.A. 9520

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