GA Okays Amendments to CBMPC’s Articles of Cooperation and By-Laws

The Proposed Amendments to the CBMPC’s Articles of Cooperation and By-Laws as presented by Chairperson Estela E. Correa of the Membership, Education and Training Committee, were approved by the General Assembly (GA) during its Annual Regular Meeting on August 27, 2022. The amendments to these legal documents aim to clarify and update some provisions as a result of changes in the coop’s business activities & policies, area of operation, postal address, composition of the Board of Directors and Treasurer.

The highlights of the significant amendments are as follows:

Articles of Cooperation:

• Article II, Secondary Objectives – to include:
  • Under Item 2: among the coop business, the remittance service, brokering, CBMPC bond floatation, inter-coop lending, inter- coop deposit and real estate (agricultural, residential, commercial)
  • Item 3: To provide consultancy/advisory/ management services and investment in social enterprises focused on the development of rural and agricultural areas of the country and the ASEAN Economic Community geared towards the reduction of food insecurity and poverty and enhancement of inclusive growth with equity.
• Article III, Additional Powers as Conferred Under RA 9520 – to be more specific under Item 4 that the exercise of such other powers is as embodied in Republic Act No. 9520.
• Article IV, Area of Operation – That the area of operation of Countryside Builders MPC shall include all areas being serviced by the Land Bank of  the  Philippines  and  its  principal office shall be located or established at Room 207, Pope Pius XII Catholic Center, 1175 United  Nations A,  Paco,  Manila 1007.
• Article VI, Common Bond of Membership – shall be institutional (instead of associational) and the field of membership shall be:

A) Regular members who were formerly connected with the  Land  Bank  of  the Philippines  (either  retired,  resigned  or transferred to other agencies) and their                relatives up to the 2nd degree of consanguinity or affinity, regular employees of LANDBANK subsidiaries, CBMPC management staff and are entitled to all the                    rights and privileges of membership as provided by the Board of Directors.

B)Associate Members who are presently connected with the Land Bank of the Philippines with such rights, privileges or restrictions (has no right to vote and be                  voted upon) as may be provided by the Board of Directors

• Article VIII, Board of Directors – reflects the name, citizenship and residence of the current directors.
• Article X, Subscribed and Paid-up Share Capital

A) That Twenty Five Percent (25%) of the authorized common share capital of Countryside Builders MPC has been subscribed in the amount of P35,000,000.00                  and paid-in capital of P32,047,838.65 equivalent to Ninety-Two Percent (92%) of the total subscription has been paid.

B) That Fifty Percent (50%) of the authorized preferred share capital of Countryside Builders MPC has been subscribed in the amount  of  P5,000,000.00  and                    paid-in capital of P4,642,960.00 equivalent to Ninety-Three Percent (93%) of the total subscription has been paid.

• Article XI, Arbitral Clause – inclusion of this article on how to handle any dispute, controversy or claim.
• Inclusion as last paragraph, the information as to who has been appointed as the Treasurer of CBMPC and the authority vested on him/ her.

By-Laws

• Article II, Membership

             Section 1. Membership

A) Regular membership – defined as to who they are; same as in Article VI, Item A). Deleted among the qualifications that they are not  members  of  an                              existing cooperative of the same type and area of operation.

B) Associate membership – the definition further specifies that they are within the cooperative bond and field of membership and the qualifications that they                         should posses.

 Section 4. Application for Membership– mentioned about the latest required membership fee of Five Hundred Pesos (P500.00).

 Sections 7 and 8 on Duties and Responsibilities and Rights and Privileges, respectively – so specific on those for the Regular and Associate Members

• Article III, Administration, Section Regular General Assembly – provides flexibility on the holding of the coop’s GA, to include: or such other date subject to the approval of the Board Board of Directors and the Cooperative Development Authority (CDA); and it may be conducted through face-to-face, video conferencing or Facebook live, or other social media  platform  or  a  combination  thereof, subject to CDA guidelines.

• Article IV, Board of Directors, Section 3. Qualifications – to include that the director must have served as a member of any committee or an officer of this cooperative.

• Article V, Committees, Sections 5 and 6 – indicated the complete name of Membership, Education and Training Committee and the use of gender-neutral terms, Chairperson and Vice-Chairperson instead of  Chairman  and Vice-Chairman.

• Article VII, Capital Structure, Section 3. Borrowing – the Board of Directors instead of the General Assembly shall approve the borrowing of the coop.

• Article XII, Special Provision –this Article has been added:  Conferment  of  Emeritus  or Eminent person status to member/s for outstanding/exemplary and extraordinary services rendered to CBMPC, subject to the approval of the Board of Directors.