Page 1 of 29 Per BOA Res. No.

188 dated 23Sept10

BY-LAWS
OF PAGLAUM CONSOLIDATED MULTI-PURPOSE COOPERATIVE

KNOW ALL MEN BY THESE PRESENTS:

We, the undersigned Filipino citizen, of legal age, and residents of the
Philippines, representing at least majority of the members of the PAGLAUM
CONSOLIDATED MULTI-PURPOSE COOPERATIVE, a primary multi-purpose
cooperative, do hereby adopt the following code of By-laws.

Article I
Purpose/s and Goals

The purpose/s and goals of this Cooperative are those set forth in its
Articles of Cooperation.

Article II
Membership

Section 1. Membership. This Cooperative shall have regular membership

only.

A regular member is one who has complied with all the membership
requirements and entitled to all the rights and privileges of membership.

Section 2. Qualification for Membership - The membership of this

Cooperative is open to all natural persons, Filipino citizen, of legal age, with
capacity to contract and, within the common bond and field of membership
described as follows:
Residing and/or Working within Cotabato Province

Section 3. Requirements for Membership.

A member must have complied with the following requirements:

a. Approved application for membership
b. Certificate of completion of the prescribed Pre-Membership Education
Seminar/Orientation (PMES/O) via face-to-face or online (4/16/22)
c. Must have Tax Identification Number.
d. Subscribed and paid the required minimum share capital and
membership fee of P100.00, initial share capital of P1,000.00 (2
shares), mortuary of P 200.00 and initial savings deposit of P 200.00.
Section 4. Application for Membership. An applicant for membership shall
file a duly accomplished form and requirements to the Board of Directors who
shall act upon the approval of the BOD Chairperson and Edcom Chairperson.
(from 30days to upon approval of bod chair and edcom chair) The Board of
Directors shall devise a form for the purpose which shall, aside from the
personal data of the applicant, include the duties of a member to participate in
all programs including but not limited to capital build-up and savings
mobilization of the Cooperative and, such other information as may be deemed
necessary.
The application form for membership shall include an undertaking to
uphold the By-laws, policies, guidelines, rules and regulations promulgated by
the Board of Directors and the general assembly. No application for
membership shall be given due course if not accompanied with a membership
fee of One Hundred pesos (Php100.00), which shall be refunded to the
applicant in case of rejection.
Page 2 of 29 Per BOA Res. No.188 dated 23Sept10

Section 5. Appeal. An applicant whose application was denied by the Board

of Directors may appeal to the general assembly by giving notice to the
Secretary of the Cooperative within thirty (30) days before the next General
Assembly meeting, whose decision on the matter shall be final.
Section 6. Minimum Share Capital Requirement. An applicant for
membership shall subscribe at least five shares (5) shares and pay the value of
at least two (2) shares equivalent to One thousand pesos (P1,000.00) shares
upon approval of his membership.
However, no member shall own or hold more than Ten percent (10%) of
the total subscribed share capital of the Cooperative.
Section 7. Duties and Responsibilities of a Member. Every member shall
have the following duties:
a. Pay the installment of his share capital subscription as it falls due
and to participate in the capital build-up and savings mobilization
activities of the Cooperative;
b. Patronize the Cooperative’s businesses and services;
c. Participate in the membership education programs;
d. Attend and participate in the deliberation of all matters taken during
general assembly meetings;
e. Observe and obey all lawful orders, decisions, rules and regulations
adopted by the Board of Directors and the general assembly; and
f. Promote the purposes and goals of the Cooperative, the success of its
business, the welfare of its members and the cooperative movement in
general.
Section 8. Rights and Privileges of Members. A member shall have the
following rights and privileges:
a. Attend during general membership meetings;
b. Avail himself of the services of the Cooperative, subject to certain
conditions as may be prescribed by the Board of Directors;
c. Inspect and examine the books of accounts, the minutes books,
the share register, and other records of the Cooperative during
reasonable office hours;
d. Secure copies of cooperative records/documents pertaining to the
account information of the concerned member;
e. Has preference in the payment of interest on share capital and in
the distribution of the net assets of the Cooperative in case of
liquidation; and
f. Such other rights and privileges as may be granted by the General
Assembly.
Section 9. Member Entitled to Vote. Any regular member who meets the
following conditions is a member entitled to vote:
a. Paid the membership fee and the value of the minimum shares
required for membership;
b. Not delinquent in the payment of his share capital subscriptions
and other accounts or obligations;
c. Not violated any provision of this By-laws, the terms and
conditions of the subscription agreement; and the decisions,
guidelines, rules and regulations promulgated by the Board of
Directors and the general assembly;
d. Completed the continuing education program prescribed by the
Board of Directors; and
Page 3 of 29 Per BOA Res. No.188 dated 23Sept10

e. Participated in the affairs of the Cooperative and patronized its

businesses in accordance with cooperative’s policies and
guidelines.
Failure of the member to meet any of the above qualifications shall mean
loss of right to vote as declared by the board of directors.

Section 10. Rights of Member Entitled to Vote. A member entitled to vote

shall have the following rights:
a. Participate and vote on all matters deliberated upon during general
assembly meetings;
b. Seek any elective or appointive position, subject to the provisions
of this By-laws and the Philippine Cooperative Code of 2008;
c. Avail himself of the services of the Cooperative, subject to certain
conditions as may be prescribed by the Board of Directors;
d. Inspect and examine the books of accounts, the minutes books,
the share register, and other records of the Cooperative during
reasonable office hours;
e. Participate in the continuing education and other training
programs of the cooperative; and
f. Such other rights and privileges as may be provided by the General
Assembly.
Section 11. Liability of Members. A member shall be liable for the debts of
the Cooperative only to the extent of his subscribed share capital.
Section 12. Termination of Membership. Termination of membership may be
automatic, voluntary or involuntary, which shall have the effect of
extinguishing all rights of a member in the Cooperative, subject to refund of
share capital contribution under Section 14 hereof.
a. Automatic Termination of Membership. The death, insanity,
permanent incapacity or judicial declaration by a competent court or the
insolvency of a member shall be considered an automatic termination of
his membership in the Cooperative.

b. Voluntary Termination. A member may, for any reason, withdraw his

membership from the Cooperative by giving a sixty (60) – (to ten - fifteen
days) 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.

c. Involuntary Termination. A member may be terminated by a vote of

the majority of all the members of the Board of Directors for any of the
following causes:

i. Has not patronized the services/businesses of the Cooperative as

provided for in the policies approved by the general assembly;
ii. Has continuously failed to comply with his obligations as provided
for in the policies approved by the general assembly;
iii. Has violated any provision of this By-laws and the policies
promulgated by the board of directors as approved by the general
assembly; and
iv. For any act or omission injurious or prejudicial to the interest or
the welfare of the Cooperative.

Section 13. Manner of Involuntary Termination. The Board of Directors

shall notify in writing the member who is being considered for termination and
Page 4 of 29 Per BOA Res. No.188 dated 23Sept10

shall give him the opportunity to be heard (in 5 working days as interval for 3
notices).
The decision of the board of directors is appealable to the general
assembly and the procedure of which shall be in accordance with the last
paragraph of Article 30 of RA 9520.

Section 14. Refund of Share Capital Contribution. A member whose

membership is terminated shall be entitled to a refund of his share capital
contribution and all other interests in the Cooperative. However, such refund
shall not be made if upon payment the value of the assets of the Cooperative
would be less than the aggregate amount of its debts and liabilities exclusive of
his share capital contribution. In which case, the terminated member shall
continue to be entitled to the interest of his share capital contributions,
patronage refund and the use of the services of the Cooperative until such time
that all his interests in the Cooperative shall have been duly paid. Upon the
acceptance of his withdrawal or approval of his termination, however, he losses
his right to attend, participate and vote in any meeting of the Board of
Directors or the general assembly.

ARTICLE III
Administration
Section 1. The General Assembly (GA). The general assembly is composed of
all the members entitled to vote, duly assembled and constituting a quorum
and is the highest policy-making body of the Cooperative.
Section 2. Powers of the General Assembly. Subject to the pertinent
provisions of the Cooperative Code and the rules issued thereunder, the
general assembly shall have the following exclusive powers which cannot be
delegated:
a. To determine and approve amendments to the cooperative Articles of
Cooperation and By-laws;

b. To elect or appoint the members of the board of directors, and to remove

them for cause;
c. To approve developmental plans of the cooperative; and
d. To delegate some of its power to a smaller body of the cooperative as
authorized by the Philippine Cooperative Code of 2008.
Section 3. Meetings. Meetings of the general assembly, board of directors and
committees may be regular or special. All proceedings and businesses
undertaken at any meeting of the general assembly or Board of Directors, if
within the powers or authority of the Cooperative, there being a quorum, shall
be valid.
Section 4. Regular General Assembly Meeting. The General Assembly shall
hold its annual regular meeting at the principal office of the Cooperative or at
any place within the Philippines on the Second Saturday of March of every
year.
Section 5. Special General Assembly Meeting. The Board of Directors may,
by a majority vote of all its members, call a special general assembly meeting at
any time to consider urgent matters requiring immediate membership decision.
The Board of Directors must likewise call a special general assembly meeting
within one (1) month from receipt of a written request from a) at least ten
percent (10%) of the total number of members entitled to vote; b) the Audit
Committee; or c) the Federation or Union to which the Cooperative is a
member, or upon Order of the Cooperative Development Authority.
Page 5 of 29 Per BOA Res. No.188 dated 23Sept10

Section 6. Notice of Meeting. All notices of meetings shall be in writing and

shall include the date, time, place, and agenda thereof stated therein.
a. Regular General Assembly Meeting. Notice of the annual regular general
assembly meeting shall be served by the Secretary, personally or his duly
authorized representative, by registered mail, or by electronic means to
all members of record at his last known postal address, or by posting or
publication, or through other electronic means, at least one (1) week
before the said meeting. It shall be accompanied with an agenda,
minutes of meeting of the last general assembly meeting, consolidated
reports of the Board of Directors and Committees, audited financial
statements, and other papers which may assist the members to
intelligently participate in the proceedings.
b. Special General Assembly Meeting. Notice of any special general
assembly meeting shall be served by the Secretary personally or his duly
authorized representative, by registered mail, or by electronic means
upon each members who are entitled to vote at his last known postal
address, or by posting or publication, or through other electronic means,
at least one (1) week before the said meeting. It shall state the purpose
and, except for related issues, no other business shall be considered
during the meeting.
Section 7. Order of Business. As far as practicable, the order of business of a
regular general assembly meeting shall be:
a. Call to order;
b. Roll Call;
c. Proof of due notice;
d. Declaration of presence of quorum;
e. Consideration of presence of quorum;
f. Reading and approval of the previous minutes of meeting;
g. Matters arising from the minutes;
h. Consideration of the consolidated report of the board of directors,
officers, and the committees, including audited financial statements of
the Cooperative;
i. Unfinished business;
j. Election of directors and committee members;
k. Approval of Development Plan and Budget;
l. New business;
m. Other matters; and
n. Adjournment

Section 8. Quorum for General Assembly Meeting. During regular or special

general assembly meeting, at least Twenty five percent (25%) of the total
number of members entitled to vote shall constitute a quorum.
Section 9. Voting System. Only members entitled to vote shall be qualified to
participate and vote in any general assembly meeting. A member is entitled to
one vote only regardless of the number of shares he owns.
Election or removal of Directors and Committee members shall be by
secret ballot. Action on all matters shall be in any manner that will truly and
correctly reflect the will of the membership. No proxy and/or cumulative
voting shall be allowed.

ARTICLE IV
Board of Directors

Section 1. Composition of the Board of Directors (BOD). The Board of

Directors shall be composed of seven (7) members.
Page 6 of 29 Per BOA Res. No.188 dated 23Sept10

Section 2. Functions and Responsibilities. The Boad of Directors shall have

the following functions and responsibilities:
a. Provide general policy direction;
b. Formulate the strategic development plan;
c. Determine and prescribe the organizational and operational structure;
d. Review the Annual Plan and Budget and recommend for the approval
of the GA;
e. Establish policies and procedures for the effective operation and
ensure proper implementation of such;
f. Evaluate the capability and qualification and recommend to the GA the
engagement of the services of the External Auditor;
g. Appoint the members of the Mediation/ Conciliation and Ethics
Committees and other Officers as specified in the Code and cooperative
By-laws;
h. Declare the members entitled to vote;

i. Decide election related cases involving the Election Committee and its
members;
j. Act on the recommendation of the Ethics Committee on cases involving
violations of Code of Governance and Ethical Standards; and
k. Perform such other functions as may be prescribed in the By-laws or
authorized by the GA;
Section 3. Qualifications. No member shall be elected or to continue as such
member of the Board of Directors unless he is a member entitled to vote and
has the following qualifications:
a. Has paid the minimum capital requirement
b. Have continuously patronized the cooperative services
c. A member in good standing for the last two years
d. Completed or willingness to complete the required education and
training as may be provided by law, rules and regulations and policy
approved by the general assembly
e. Of good moral character and other qualifications prescribed in the
IRR of the Authority

Section 4. Disqualifications. Any member who is under any of the following

circumstances shall be disqualified to be elected as a member of the Board of
Directors or any committee, or to continue as such:
a. Holding any elective position in the government, except that of a
party list representative or being an officer of a cooperative he or she
represents;

b. The members of the board of directors shall not hold any other
position directly involved in the day-to-day operation and
management of the cooperative;
c. Having direct or indirect personal interest with the business of the
Cooperative;
d. Having been absent for in three (3) consecutive meetings or in more
than fifty percent (50%) of all meetings within the twelve (12) month
period unless with valid excuse as approved by the board of
directors;
e. Being an official or employee of the Cooperative Development
Authority;
Page 7 of 29 Per BOA Res. No.188 dated 23Sept10

f. Having been convicted in administrative proceedings or

civil/criminal suits involving financial and/or property
accountability; and
g. Having been disqualified by law.
Section 5. Election of Directors. The members of the Board of Directors shall
be elected by secret ballot by members entitled to vote during the annual
regular general assembly meeting or special general assembly meeting called
for the purpose. Unless earlier removed for cause, or have resigned or become
incapacitated, they shall hold office for unlimited terms until their successors
shall have been elected and qualified.
Section 6. Election of Officer within the Board. The Board of Directors shall
convene within ten (10) days after the general assembly meeting to elect by
secret ballot from among themselves the Chairperson and the Vice-
Chairperson, and to elect or appoint the Secretary and Treasurer from outside
of the Board.

For committees elected by the General Assembly and/or appointed by the

BOD, procedural process of electing the Chairperson, Vice-Chairperson or
other positions among themselves should be in accordance with the process
mentioned above.
Section 7. Meeting of the Directors. The regular meeting of the Board of
Directors shall be held at least once a month. However, the Chairperson or
majority of the directors may at any time call a special Board meeting to
consider urgent matters. The call shall be addressed and delivered to the
Secretary stating the date, time and place of such meeting and the matters to
be considered. Notice of 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 seven (7) days before such meeting.
Majority of the total number of directors constitutes a quorum to transact
business. Any decision or action taken by the majority members of the Board
of Directors in a meeting duly assembled shall be a valid cooperative act.
Section 8. Vacancies. Any vacancy occurring in the Board of Directors by
reason of death, incapacity, removal or resignation may be filled-up by a
majority vote of the remaining directors, if still constituting a quorum;
otherwise, such vacancy shall be filled by the general assembly in a regular or
special meeting called for the purpose. The elected director shall serve only for
the unexpired term of his predecessor in office.
In the event that the general assembly failed to muster a quorum to fill
the positions vacated by directors whose term have expired and said directors
refuse to continue their functions on a hold-over capacity, the remaining
members of the Board together with the members of the Audit Committee shall
designate, from the qualified regular members of the general assembly, their
replacements who shall serve as such until their successors shall have been
elected and qualified in a regular or special general assembly meeting called for
the purpose.
If a vacancy occurs in any elective committee it shall be filled by the
remaining members of the said committee, if still constituting a quorum,
otherwise, the Board, in its discretion, may appoint or hold a special election to
fill such vacancy.

Section 9. Removal of Directors and Committee Members. All complaints

for the removal of any elected officer shall be filed with the board of directors
and such officer shall be given the opportunity to be heard. Majority of the
board of directors may place the officer concerned under preventive suspension
pending the resolution of the investigation. Upon finding of a prima facie
Page 8 of 29 Per BOA Res. No.188 dated 23Sept10

evidence of guilt, the board shall present its recommendation for removal to the
general assembly. An elective officer may be removed by three-fourths (¾) of
the regular members present and constituting a quorum, in a regular or special
general assembly meeting called for the purpose. The officer concerned shall be
given the opportunity to be heard at said assembly.
In cases where the officers sought to be removed consist of the majority
of the BOD at least 10% of the members with voting rights may file a petition
with the CDA upon failure of the BOD to call an assembly meeting to
commence the proceeding for their removal. The decision of the GA on the
matter is final and executory.
An officer elected or appointed by the Board of Directors or any
committee may be removed from office for cause by a majority vote of all the
members of the Board or Committee as the case may be.
Section 10. Powers and Duties of the Board. The board of directors shall be
responsible for the strategic planning, direction-setting and policy-formulating
activities of the cooperatives. . Provided further that any members of the board
shall not hold any other position directly involved in the day-to-day operation
and management of the cooperative.

ARTICLE V
Committees
Section 1. Audit Committee. An Audit Committee is hereby created and shall
be composed of three (3 ) members to be elected during a general assembly
meeting and shall hold office for a term of one (1) year or until their successors
shall have been elected and qualified. Within ten (10 ) days after their election,
they shall elect from among themselves a Chairperson, Vice-Chairperson and a
Secretary. No member of the committee shall hold any other position within
the Cooperative during his term of office. The Committee shall provide internal
audit service, maintain a complete record of its examination and inventory, and
submit an audited financial report quarterly or as may be required by the
Board and the general assembly.
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 cooperative's management control system
and audit the performance of the cooperative and its various responsibility
centers.
Section 2. Functions and Responsibilities. The Audit Committee shall:
a. Monitor the adequacy and effectiveness of the cooperative’s management
and control system;
b. Audit the performance of the cooperative and its various responsibility
Centers;
c. Review continuously and periodically the books of account and other
financial records to ensure that these are in accordance with the
cooperative principles &generally accepted accounting procedures;
d. Submit reports on the results of the internal audit and recommend
necessary changes on policies and other related matters on operation to
the Board of Directors and GA;
e. Recommend or petition to the board of directors conduct of special
general assembly when necessary; and
f. Perform such other functions as may be prescribed in the By-laws or
authorize by the GA.
Section 3. Election Committee. An Election Committee is hereby created and
shall be composed of three (3) members to be elected during a general assembly
Page 9 of 29 Per BOA Res. No.188 dated 23Sept10

meeting and shall hold office for a term of one (1) year or until their successors
shall have been elected and qualified. Within ten (10) days after their election
they shall elect from among themselves a Chairperson, Vice-Chairperson and a
Secretary. No member of the committee shall hold any other position within
the Cooperative during his term of office.
Section 4. Functions and Responsibilities. The Election Committee shall:
a. Formulate election rules and guidelines and recommend to the GA for
approval;
b. Implement election rules and guidelines duly approved by the GA;
c. Recommend necessary amendments to the election rules and guidelines,
in consultation with the Board of Directors, for approval of the GA;
d. Supervise the conduct, manner and procedure of election and other
election related activities and act on the changes thereto;
e. Canvass and certify the results of the election;
f. Proclaim the winning candidates;
g. Decide election and other related cases except those involving the
Election Committee or its members, and

h. Perform such other functions as prescribed in the By-laws or authorized

by the GA.
Section 5. Education and Training Committee. An Education and Training
Committee is hereby created and shall be composed of three (3) members to be
appointed by the Board of Directors and shall serve for a term of one (1) year,
without prejudice to their reappointment. Within ten (10) days after their
election they shall elect from among themselves a Chairperson, Vice-
Chairperson and a Secretary. Except for the Vice-Chairperson, no member of
the committee shall hold any other position within the Cooperative during his
term of office.

The committee shall be responsible for the planning and implementation

of the information, educational and human resource development programs of
the Cooperative for its members, officers and the communities within its area
of operation.

Section 6. Functions and Responsibilities. The Education and Training

Committee shall:
a. Keep members, officers, staff well-informed regarding cooperative’s
goals/objectives, policies & procedures, services, etc.;
b. Plan and implement educational program for coop members, officers and
staff;
c. Develop promotional and training materials for the cooperative; and
d. Conduct/Coordinate training activities.

Section 7. Mediation and Conciliation Committee. A Mediation and

Conciliation Committee is hereby created and shall be composed of three (3)
members to be appointed by the Board of Directors. Within ten (10) days after
their appointment, they shall elect from among themselves a Chairperson,
Vice-Chairperson and a Secretary who shall serve for a term of one (1) year or
until successors shall have been elected and qualified. No member of the
Committee shall hold any other position in the Cooperative during his term of
office.

Section 8. Functions and Responsibilities. The Mediation and Conciliation

Committee:
Page 10 of 29 Per BOA Res. No.188 dated 23Sept10

a. Formulate and develop the Conciliation-Mediation Program and ensure

that it is properly implemented;
b. Monitor Conciliation-Mediation program and processes;
c. Submit semi-annual reports of cooperative cases to the Authority within
15 days after the end of every semester;

d. Accept and file Evaluation Reports;

e. Submit recommendations for improvements to the BOD;
f. Recommend to the BOD any member of the cooperative for Conciliation-
Mediation Training as Cooperative Mediator-Conciliator;

g. Issue the Certificate of Non-Settlement;

h. Perform such other functions as may be prescribed in the By-laws or

authorized by the GA.

Section 9. Ethics Committee. An Ethics Committee is hereby created and

shall be composed of three (3) members to be appointed by the Board of
Directors. Within ten (10)days after their appointment, they shall elect from
among themselves a Chairman, Vice-Chairman and a Secretary who shall serve
for a term of one (1) year or until successors shall have been appointed and
qualified. No member of the Committee shall hold any other position in the
Cooperative during his term of office.

Section 10. Functions and Responsibilities. The Ethics Committee shall:

a. Develop Code of Governance and Ethical Standard to be observed by the
members, officers and employees of the cooperative subject to the
approval of the BOD and ratification of the GA;
b. Disseminate, promote and implement the approved Code of Governance
and Ethical Standards;
c. Monitor compliance with the Code of Governance and Ethical Standards
and recommend to the BOD measures to address the gap, if any;
d. Conduct initial investigation or inquiry upon receipt of a complaint
involving Code of Governance and Ethical Standards and submit report
to the BOD together with the appropriate sanctions;
e. Recommend ethical rules and policy to the BOD;
f. Perform such other functions as may be prescribed in the By-laws or
authorized by the GA.
Section 11. Other Committees. By a majority vote of all its members, the
Board of Directors may form such other committees as may be deemed
necessary for the operation of the Cooperative.

ARTICLE VI
Officers and Management Staff
of the Cooperative

Section 1. Officers and their Duties. The officers of the cooperative shall
include the members of the Board of Directors, different committees created by
the general assembly, general manager or chief executive officer, secretary,
treasurer and members holding other positions as may be provided for in this
by-laws, shall serve according to the functions and responsibilities of their
respective offices as follows:
a. Chairperson – The Chairperson shall:
Page 11 of 29 Per BOA Res. No.188 dated 23Sept10

i. Set the agenda for board meetings in coordination with the other
members of the BOD;
ii. Preside over all meetings of the Board of Directors and of the
general assembly;
iii. Sign contracts, agreements, certificates and other documents on
behalf of the cooperative as authorized by the Board of Directors or
by the GA;
iv. Issue Certificate of Non-Affiliation with the Federation or Union;
and
v. Perform such other functions as may be authorized by the BOD or
by the GA.
b. Vice-Chairperson –the Vice-Chairperson shall:
i. Perform all the duties and responsibilities of the Chairperson in
the absence of the latter;
ii. ii. Act as ex-officio chairperson of the Education and Training
Committee; And
iii. Perform such other duties as may be delegated by the board of
directors.
c. Treasurer – The Treasurer shall:
i. Ensure that all cash collections are deposited in accordance with
the policies set by the BOD;
ii. Have custody of all funds, securities, and documentations relating
to all assets, liabilities, income and expenditures;
iii. Monitor and review the financial management operations of the
cooperative, subject to such limitations and control as may be
prescribed by BOD;
iv. Maintain full and complete records of cash transactions;
v. Maintain a Petty Cash Fund and Daily Cash Position Report; and
vi. Perform such other functions as may be prescribed in these By-
laws.
d. Secretary – The Secretary shall:
i. Keep an updated and complete registry of all members Record,
prepare and maintain records of all minutes of all meetings of the
BOD & the GA;
ii. Ensure that necessary BODs’ actions and decisions are
transmitted to the management for compliance and
implementation;
iii. Issue and certify the list of members who are in good standing and
entitled to vote as determined by the BOD;
iv. Prepare and issue Share Certificates;
v. Serve notice of all meetings called and certify the presence of
quorum of all meetings of the BOD and GA;
vi. Keep copy of the Treasurer’s report & other reports;
vii. Keep and maintain the Share & Transfer Book;
viii. Serve as custodian of the cooperative seal; and
ix. Perform such other functions as may be prescribed in the By-laws
or authorized by the GA.
Page 12 of 29 Per BOA Res. No.188 dated 23Sept10

e. General Manager. The General Manager shall:

i. Oversee the overall day to day business operations of the

cooperative by providing general direction, supervision,
management and administrative control over all the operating
departments subject to such limitations as may be set forth by the
BOD or the GA;
ii. Formulate and recommend in coordination with the operating
departments under his/her supervision, the Coops Annual and
Medium Term Development. Plan, programs and projects, for
approval of the BOD, and ratification of GA;
iii. Implement the duly approved plans and programs of the
cooperative and any other directive or instruction of the BODs;
iv. Provide and submit to the BODs monthly reports on the status of
the coop’s operation vis-a-vis its target and recommend
appropriate policy or operational changes, if necessary;
v. Represent the cooperative in any agreement, contract, business
dealings, and in any other official business transaction as may be
authorized by the BODs;

vi. Ensure compliance with all administrative and other requirements

of regulatory bodies; and
vii. Perform such other functions as may be prescribed in the By-laws
or authorized by the GA.

Section 2. 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 Directors, officers or
committee members shall be liable jointly and severally for all damages
resulting therefrom to the Cooperative, members and other persons.
When a director, officer or committee member attempts to acquire, or
acquires in violation of his duties, any interest or equity adverse to the
Cooperative in respect to any matter which has been reposed in him in
confidence, he shall, as a trustee for the Cooperative, be liable for damages or
loss of profits which otherwise would have accrued to the Cooperative.
Section 3. Management Staff. The Board of Directors shall appoint, fix their
compensation and prescribe for the functions and responsibilities of the
Management Staff not provided hereof.
Section 4. Qualification of the General Manager. No person shall be
appointed to the position of general manager unless he/she possesses the
following qualifications and none of the disqualifications herein enumerated:
a. Must be familiar with the business operation of the Cooperative;

b. Must have at least two (2) years experience in the operations of

Cooperative or related business;

c. Must not be engaged directly or indirectly in any activity similar to the

business of the Cooperative;

d. Must not have been convicted of any administrative, civil or criminal

cases involving moral turpitude, gross negligence or grave misconduct in
the performance of his duties;
Page 13 of 29 Per BOA Res. No.188 dated 23Sept10

e. Must not be addicted to any form of gambling or immoral or vicious

habits;

f. Must have no pending administrative, civil or criminal case involving

financial and/or property accountabilities at the time of his/her
appointment; and

g. Must undergo pre-service and/or in-service trainings.

Section 5. Duties of the General Manager. The General Manager shall:

a. Over all in-charge of all the phases of the business operations of the
Cooperative, subject to the policies and guidelines set by the board of
directors and the general assembly.
b. Responsible in maintaining records and accounts of the Cooperative in
such manner that the true condition of its business may be ascertained
there from at any time.
c. Render reports monthly, annually or as may be required by the Board of
Directors or the general assembly, and preserve the books, documents,
correspondence and records of whatever nature concerning the
operations of the Cooperative which may come into his/her possession;
d. Subject to the policies set by the Board of Directors, employ, supervise
and/or dismiss any agent or employee in the management staff; and
e. Perform such other duties as the Board of Directors may prescribe and
turn over to his/her successor all properties belonging to the Cooperative
in his/her possession or over which he/she has control upon the
expiration/termination of his services.

Section 6. Duties of the Accountant. The Accountant of the Cooperative, who

shall be under supervision and control of the General Manager shall:
a. Install an adequate and effective accounting system within the
Cooperative;

b. Render reports on the financial condition and operations of the

Cooperative monthly, annually or as may be required by the Board of
Directors and/or the general assembly;
c. Provide assistance to the Board of Directors in the preparation of annual
budget;
d. Keep, maintain and preserve all books of accounts, documents,
vouchers, contracts and other records concerning the business of the
Cooperative and make them available for auditing purposes to the
Chairman of the Audit Committee; and

e. Perform such other duties as the Board of Directors may require.

Section 7. Duties of the Bookkeeper. The bookkeeper of the Cooperative who
is under supervision and control of the Accountant shall:

a. Records and update books of accounts;

b. Provide assistance in the preparation of reports on the financial condition

and operations of the Cooperative monthly, annually or as may be
required by the Board of Directors and/or the general assembly;
Page 14 of 29 Per BOA Res. No.188 dated 23Sept10

c. Keep, maintain and preserve all books of accounts, documents, vouchers,

contracts and other records concerning the business of the Cooperative
and make them available for auditing purposes to the Chairman of the
Audit Committee; and
d. Perform such other duties as the Board of Directors may require.

Section 8. Qualifications of Accountant and Bookkeeper. No person shall

be appointed to the position of accountant and bookkeeper unless they possess
the following qualifications and none of the disqualifications herein
enumerated:

a. Bachelor degree in accountancy must be required for Accountant however

Bookkeeper must be knowledgeable in accounting and bookkeeping;

b. Must have at least two (2) years experience in Cooperative or related

business;

c. Must not be engaged directly or indirectly in any activity similar to the

business of the Cooperative;

d. Must not be convicted of any administrative, civil or criminal case

involving moral turpitude, gross negligence or grave misconduct in the
performance of his duties;

e. Must not be addicted to any form of gambling or immoral or vicious

habits;

f. Must be willing to undergo pre-service and/or in-service trainings in

accounting; and

g. Must have no pending administrative, civil or criminal case involving

financial and/or property accountabilities at the time of his appointment.

Section 9. Compensation. Subject to the approval of the general assembly, the

members of the Board and Committees may, in addition to per diems for actual
attendance to board and committee meetings, and reimbursement of actual
and necessary expenses while performing functions in behalf of the
cooperative, be given regular compensation; Provided, further, that the
directors and officers shall not be entitled to any per diem when, if in the
preceding calendar year, the cooperative reported a net loss or had a dividend
rate less than the official inflation rate for the same year.

ARTICLE VII
Capital Structure

Section 1. Source of Funds. The Cooperative may derive its funds from any or
all of the following sources:
a. Member’s share capital contribution;
b. Loans and borrowings including deposits;
c. Revolving capital build-up which consist of the deferred payment of
patronage refund or interest on share capital;
d. Subsidies, grants, legacies, aids, donation and such other assistance
from any local or foreign institution, public or private;
e. Retentions from the proceeds of services acquired /goods procured by
members; and
f. Other sources of funds as may be authorized by law.
Page 15 of 29 Per BOA Res. No.188 dated 23Sept10

Section 2. Continuous Capital Build-Up. Every member shall have invested

in any or all of the following:
a. At least three percent (3%) of his monthly income;
b. At least One hundred percent (100%) of his annual interest on capital
and patronage refund; and
c. At least five percent (5%) of each good procured /service acquired from
the cooperative.
Section 3. Borrowing. The Board of Directors, upon approval of the General
Assembly, may borrow funds from any source, local or foreign, under such
terms and conditions that best serve the interest of the Cooperative.
Section 4. Revolving Capital. To strengthen the capital structure of the
Cooperative, the general assembly may authorize the Board of Directors to
raise a revolving capital by deferring the payment of patronage refunds and
interest on share capital, or such other schemes as may be legally adopted. To
implement this provision, the Board of Directors shall issue a Revolving Capital
Certificate with serial number, name, rate of interest, date of retirement and
such other privileges or restrictions as may be deemed just and equitable.
Section 5. Retentions. The general assembly may authorize the Board of
Directors to raise additional capital by deducting a certain percent on a per
unit basis from the proceeds of services acquired and/or goods procured by
members.
Section 6. Share Capital Contribution. Share Capital Contribution refers to
the value of capital subscribed and paid for by a member in accordance with its
Articles of Cooperation.
Section 7. Share Capital Certificate. The Board of directors shall issue a
Share Capital Certificate only to a member who has fully paid his subscription.
The Certificate shall be serially numbered and contain the share holder’s 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
certificates issued and/or transferred shall be registered in the cooperative’s
Share and Transfer Book.
The shares may be purchased, owned or held only by persons who are
eligible for membership. Subject to existing government rules or laws, interests
shall be paid only to paid-up shares which may be in cash; or credited as
payment of unpaid subscriptions, outstanding accounts, or additional shares
or to the revolving fund of the cooperative.
Section 8. Transfer of Shares. The Cooperative shall have the first option to
buy any share offered for sale. The amount to be paid for such shares shall be
the par value or the book value, whichever is lower.
a. He has held such shares or interests for not less than one (1) 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, and that said
person is acceptable to the cooperative; and
c. The Board has approved such transfer.
The transfer of shares shall not be binding to the cooperative until such
transfer has been registered in the share and transfer book. No transfer shall
be completed until the old certificate have been endorsed and surrendered to
the Cooperative and a new certificate is issued in the name of the member-
transferee. The corresponding transfer fee shall be collected from the transferee
as prescribed in the cooperative policy.
In case of lost or destroyed share certificate, the Board of Directors may
issue a replacement after the owner thereof executes a sworn affidavit, setting
forth the following:
Page 16 of 29 Per BOA Res. No.188 dated 23Sept10

a. Circumstances as to how, when and where said certificate was lost or

destroyed;

b. The serial number of the certificate; and the number of shares it

represents;
c. The lost or destroyed certificate has never been transferred, sold or
endorsed to any third party, that should the same be found, the owner
shall surrender it to the cooperative; and
d. That any false representation or statement made in the aforesaid affidavit
shall be a ground for expulsion from the cooperative.

ARTICLE VIII
Operations

Section 1. Primary Consideration. Adhering to the principle of service over

and above profit, the Cooperative shall endeavor to:
a. Engage in Savings and Credit, Marketing, Pharmacy, Micro financing,
Canteen, Bio-N fertilizer and Vermi cast Production, Housing and other
related activites;
b. Formulate and implement program strategies that will provide its
members and the communities within its area of operation needed
goods/services;
c. Adopt and implement plans and programs which insures the continued
build-up of the cooperative’s capital structure with the end view of
establishing other needed services for the members and the public;
d. Formulate and implement studies and/or programs that will address the
needs of members.

ARTICLE IX
Allocation and Distribution of Net Surplus
Section 1. Allocation - At the end of its fiscal year, the Cooperative shall
allocate and distribute its net surplus as follows:
a. Reserve Fund. Ten percent (10%) shall be set aside for Reserve Fund
subject to the following rules, provided, that in the first five (5) years of
operation after registration, this amount shall not be less than fifty per centum
(50%) of the net surplus:
i. The reserve fund shall be used for the stability of the Cooperative and to
meet net losses in its operations. The general assembly may decrease
the amount allocated to the reserve fund when it has already exceeded
the authorized share capital. Any sum recovered on items previously
charged to the reserve fund shall be credited to such fund.
ii. 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 authorized share capital may be used at any time for any
project that would expand the operations of the cooperative upon the
resolution of the general assembly.
iii. Upon the dissolution of the cooperative, the reserve fund shall not be
distributed among the members. However, the general assembly may
resolve:

a. To establish usufructuary fund for the benefit of any federation or

union to which the cooperative is affiliated; or
Page 17 of 29 Per BOA Res. No.188 dated 23Sept10

b. To donate, contribute or otherwise dispose of the amount for the

benefit of the community where the cooperative operates. If the
member could not decide on the disposition of the reserve fund,
the same shall be given to the federation or union to which the
cooperative is affiliated.

b. Education and Training Fund. Not more then ten percent (10 %)
shall be set aside for Education and Training Fund.
i. Half of the amount allocated to the education and training fund
annually under this subsection may be spent by the cooperative for
education and training purposes; while the other half may be remitted
to a union or federation chosen by the cooperative or of which it is a
member.

ii. Upon the dissolution of the cooperative, the unexpended balance of

the education and training fund pertaining to the cooperative shall be
credited to the cooperative education and training fund of the chosen
union or federation.

c. Community Development Fund. At least three percent (3%) shall be

used for projects and activities that will benefit the community where the
cooperative operates.
d. Optional Fund. Not more than seven percent (7%) shall be set aside
for Optional Fund for land and building, and any other necessary fund.
Section 2. Interest on Share Capital and Patronage Refund. The remaining
net surplus shall be made available to the members in the form of interest on
share capital not to exceed the normal rate of return on investment and
patronage refunds. Provided, that any amount remaining after the allowable
interest and the patronage refund have been deducted shall be credited to the
reserved to the reserve fund. The sum allocated for patronage refund 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 a member patron with paid-up share capital contribution,
his/her proportionate amount of patronage refund shall be paid to him
unless he/she agrees to credit the amount to his/her account as
additional share capital contribution;

b. In the case of member patron with unpaid share capital contribution,

his/her proportionate amount of patronage refund shall be credited to
his/her account until the share capital has been fully paid;

c. In the case of non-member patron, his/her proportionate amount of

patronage refunds shall be set aside in a general fund for such patron
and shall be allocated to individual non-member patron and only upon
request and presentation of evidence of the amount of his/her patronage.
The amount so allocated shall be credited to such patron toward
payment of the minimum capital contribution for membership. When a
sum equal to this amount has accumulated at any time within two (2 )
years, such patron shall be deemed and become a member of the
cooperative if he so agrees or requests and complies with the provisions
of the bylaws for admission to membership; and
d. If within the period specified hereof, any subscriber who has not fully
paid his subscribed 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 the
provisions of this bylaws for admission to membership, the amount so
Page 18 of 29 Per BOA Res. No.188 dated 23Sept10

accumulated or credited to their account together with any part of the

general fund for non-member patron shall be credited to the reserve fund
or to the education and training fund of the cooperative, at the option of
the cooperative.

ARTICLE X
Settlement of Disputes

Section 1. Mediation and Conciliation. All inter and intra-cooperative

disputes shall be settled within the cooperative in accordance with the
pertinent Guidelines issued by the Cooperative Development Authority.

Section 2. Disputes Involving Members of the Mediation and Conciliation

Committee and Board of Directors. If one of the parties to a controversy is a
member of the Mediation and Conciliation Committee, the chairman shall
endorse the case to the Board of Directors who shall resolve the case following
the procedures prescribed in the proceeding section.
If one or both parties are members of the Board of Directors and the
Mediation and 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 (5)-man Special
Conciliation Committee, consisting of the heads of Audit and Election
Committees, the Secretary and one representative of each party. The special
conciliation 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 XI
Miscellaneous

Section 1. Investment of Capital. The Cooperative may invest its capital in

any or all of the following:
a. Shares or debentures or securities of any other cooperative;
b. Any reputable bank in the locality or any cooperative and cooperative
banks;
c. Securities issued or guaranteed by Government;
d. Real Estate primarily for the use of the Cooperative or its members; or
e. In any other manner approved by the general assembly.
Section 2. Accounting System. The Cooperative shall keep, maintain and
preserve all its books of accounts and other financial records in accordance
with generally accepted accounting principles and practices, applied
consistently from year to year, and subject to existing laws, rules and
regulations.
Section 3. External Audit. At least once a year, the Board of Directors shall in
consultation with the Audit Committee, cause the audit of the books of
accounts of the Cooperative by CDA accredited independent Certified Public
Accountant.
Section 4. Annual Report. During the annual regular assembly meeting, the
Cooperative shall submit a report of its operation to the general assembly
together with the audited financial statements. The annual report shall be
certified by the Chairperson and Manager of the Cooperative as true and
Page 19 of 29 Per BOA Res. No.188 dated 23Sept10

correct in all aspects to the best of their knowledge. The audited financial
statements shall be certified by CDA accredited independent Certified Public
Accountant.
The cooperative shall submit the following reports to the Authority within
(120) days from the end of every calendar year:
a. Cooperative Annual Performance Report (CAPR);
b. Social Audit Report;
c. Performance Report;
d. Audited Financial Statement duly stamped “Received” by BIR;
e. List of officers and trainings undertaken/completed.

ARTICLE XII
Amendments

Section 1. Amendment of Articles of Cooperation and By-laws.

Amendments to the Articles of Cooperation and this By-Laws may be adopted
by at least two-thirds (2/3) votes of all members with voting rights without
prejudice to the rights of dissenting members to withdraw their membership
under the provisions of the Philippine Cooperative Code of 2008.
The amendment/s shall take effect upon approval by the Cooperative
Development Authority.
Voted and adopted this 5TH day of March, 2016 in the Paglaum
Consolidated Multi-Purpose Cooperative, New Cebu, Pres. Roxas, Cotabato ,
Philippines.

NAME SIGNATURE

1 . Abad, Karen Jill Sgd.

2 . Abejaron, Uldarico Sgd.
3 . Abella, Rosie Sgd.
4 . Abellanida, Angelita Sgd.
5 . Abellanosa, Fedil Sgd.
6 . Abordo, Avelina Sgd.
7 . Abordo, Sherly Sgd.
8 . Acquisa, Catalina Sgd.
9 . Agosto, Daniela Sgd.
10 . Aguinsatan, Teresita Sgd.
11 . Alag, Marialyn Sgd.
12 . Albear, Anne Rose Sgd.
13 . Albiso, Annami Sgd.
14 . Albores, Florencio Sgd.
15 . Alegre, Lucia Sgd.
16 . Alegre, Myrna Sgd.
17 . Algura, Emelia Sgd.
18 . Allego, Vernadin D. Sgd.
19 . Alejo, Joi Sgd.
20 . Alonzo, Dorrybeth Sgd.
21 . Aloro, Lorna P. Sgd.
22 . Aloro, Rosemarie Sgd.
Page 20 of 29 Per BOA Res. No.188 dated 23Sept10

23 . Amancio, Merla L. Sgd.

24 . Andolana, Albert Sgd.
25 . Andolana, Christ May Sgd.
26 . Andolana, Eufemio Sgd.
27 . Andolana, Gregorio Sgd.
28 . Andolana, Guer Law Sgd.
29 . Andolana, Gutzer Law Sgd.
30 . Andolana, Pacencia Sgd.
31 . Aninion, Alexander Sgd.
32 . Aninion, Arjay Sgd.
33 . Aninion, Jovita Sgd.
34 . Aninion, Ramon Sgd.
35 . Anta, Angelita Sgd.
36 . Anza, Beata C. Sgd.
37 . Arsena, Ben Sgd.
38 . Atamosa, Amparo Sgd.
39 . Aspacio, Felicidad Sgd.
40 . Avila, Isadora Sgd.
41 . Bacaoco, Merle Sgd.
42 . Bacaro, Norma Sgd.
43 . Bacus, Dionesia Sgd.
44 . Bacus, Evangeline Sgd.
45 . Bacus, Evelyn Sgd.
46 . Bacus, Felix Sgd.
47 . Bacus, Jerry Sgd.
48 . Bacus, Letecia Sgd.
49 . Bacus, Rey Sgd.
50 . Bacus, Ruben Sgd.
51 . Bacus, Vicenta Sgd.
52 . Baga, Marites Sgd.
53 . Baga, Mary Grace Sgd.
54 . Baga, Rosita Sgd.
55 . Bair, Emelia Sgd.
56 . Balani, Jimmy Sgd.
57 . Bañ as, Helen Sgd.
58 . Barona, Bernie D. Sgd.
59 . Barro, Mary Cris Sgd.
60 . Baruis, Agnes Sgd.
61 . Baruis, Carmelina Sgd.
62 . Baruis, Celedonia Sgd.
63 . Baruis, Felix Sgd.
64 . Baruis, Jovelyn Sgd.
65 . Baruis, Junathan Sgd.
66 . Baruis, Luisa Sgd.
67 . Baruis, Maritess Sgd.
68 . Baruis, Maria Sgd.
69 . Baruis, Mary Jane Sgd.
70 . Baruis, Miguel Sgd.
71 . Baruis, Pedro Jr. Sgd.
72 . Baruis, Perlita Sgd.
73 . Baruis, Reynalyn Sgd.
Page 21 of 29 Per BOA Res. No.188 dated 23Sept10

74 . Baruis, Teofista Sgd.

75 . Baruis, Zenaida Sgd.
76 . Basilan, Imelda Sgd.
77 . Basilan, Sheila Mae Sgd.
78 . Bautista, Ivy Sgd.
79 . Bautista, Rosini Sgd.
80 . Bautista, Sheila Sgd.
81 . Bebar, Solivan Sgd.
82 . Bebit, Carmela Sgd.
83 . Becher, Albert Sgd.
84 . Berberio, Nicolas Sgd.
85 . Besto, Felipe Sgd.
86 . Bohos, Joselito Sgd.
87 . Booc, Rachel Sgd.
88 . Bona, Crisanta V. Sgd.
89 . Brizuela, Aldrin Sgd.
90 . Brizuela, Julie Sgd.
91 . Buenaflor, Agustin Sgd.
92 . Bugas, Jenelyn Sgd.
93 . Bugas, Joey N. Sgd.
94 . Bulambao, Teodoro Sgd.
95 . Cabalum, Ma. Teresa Sgd.
96 . Cabamungan, Anavilla B Sgd.
97 . Cabamungan, Genevilla Sgd.
98 . Cabanas, Wilma Sgd.
99 . Cabezas, Mary Joy Sgd.
100 . Cabigunda, Elma Sgd.
101 . Cagasan, Fabiola Sgd.
102 . Cagasan, Valentina Sgd.
103 . Calimpusan, Panfilo Sgd.
104 . Calipusan, Arnold Sgd.
105 . Callano, Juliet Sgd.
106 . Callano, Primitiva Sgd.
107 . Callano, Reynaldo Sgd.
108 . Callano, Ronie Sgd.
109 . Camarillo, Virginia Sgd.
110 . Cambarihan, Alicia Sgd.
111 . Cambarihan, Emeliano Sgd.
112 . Cambronero, Mary Joy Sgd.
113 . Candole, Francisco Sgd.
114 . Canete, Aquilina Sgd.
115 . Cañ ete, Marecel Sgd.
116 . Canonigo, Liwayway Sgd.
117 . Canonio, Rebecca Sgd.
118 . Cangque, Edebien Sgd.
119 . Cantil, Mailene Sgd.
120 . Cantil, Maria Sgd.
121 . Cantil, Ronillo Sgd.
122 . Caparida, Jaymon Sgd.
123 . Capuras, Aniano Sgd.
124 . Carcallas, Anna Marie Sgd.
Page 22 of 29 Per BOA Res. No.188 dated 23Sept10

125 . Cardinas, Elizabeth Sgd.

126 . Carlos, Moreto Sgd.
127 . Cascabel, Arien Sgd.
128 . Casinao, Wivina Sgd.
129 . Casiple, Roy Sgd.
130 . Castillano, Cheryl Sgd.
131 . Catahum, Victoria Sgd.
132 . Cavan, Eddie Sgd.
133 . Cavan, Luciana Sgd.
134 . Cavan, Rommel Sgd.
135 . Cavan, Virginia Sgd.
136 . Cepe, Raymundo Sgd.
137 . Cimagala, Gellen Sgd.
138 . Cimagala, Prudencio Sgd.
139 . Condez, Carmen Sgd.
140 . Cordilla, Eusie Sgd.
141 . Corona, Generose Sgd.
142 . Costas, Adela Sgd.
143 . Costas, Emelia Sgd.
144 . Costas, Liezel Sgd.
145 . Credo, Adelaida Sgd.
146 . Cretecio, Dolores Sgd.
147 . Cretecio, Joven Sgd.
148 . Cubero, Ana Sherly Sgd.
149 . Cubero, Charito Sgd.
150 . Cubero, Grace Sgd.
151 . Cubero, Mutya Sgd.
152 . Cubero, Rio Sgd.
153 . Cubero, Zosima Sgd.
154 . Cudera, Allan Sgd.
155 . Cudera, Enrica Sgd.
156 . Cudera, Germilyn Sgd.
157 . Daligdig, Wenefredad Sgd.
158 . Danzalan, Cristine Sgd.
159 . Darupan, Rosemerlyn Sgd.
160 . Dasoc, Nimfa Sgd.
161 . Dasoc, Rovelyn Sgd.
162 . Datuin, Geralda Sgd.
163 . David, Eustaquia Sgd.
164 . Dayaga, Elizel Sgd.
165 . Dayap, Rosalia Sgd.
166 . Dela Cruz, Virgilio Sgd.
167 . Delos Santos, Sabas Sgd.
168 . Denaque, Caros Jr. Sgd.
169 . Diez, Rosario Sgd.
170 . Dino, Rhoda Sgd.
171 . Dizon, Criselda Sgd.
172 . Dollano, Alona Sgd.
173 . Dollano, Renando Sgd.
174 . Dorado,Bernard Sgd.
175 . Ediza, Nenita Sgd.
Page 23 of 29 Per BOA Res. No.188 dated 23Sept10

176 . Edullantes, Agustina Sgd.

177 . Egam, Ana Lilia Sgd.
178 . Ehara, Nelly Sgd.
179 . Embalzado, Babeth Sgd.
180 . Embalzado, Dominga Sgd.
181 . Embalzado, Elvira Sgd.
182 . Embalzado, Eulogio Sgd.
183 . Embalzado, Feliciano Sgd.
184 . Embalzado, Jenny Sgd.
185 . Embalzado, Jhun Ryan Sgd.
186 . Embalzado, Marelin Sgd.
187 . Embalzado, Nancy Sgd.
188 . Empinado, Keneth Joy Sgd.
189 . Enghog, Ricardo Sgd.
190 . Escollar, Develyn Sgd.
191 . Españ ola, Sheryl Sgd.
192 . Españ ol, Roperos Sgd.
193 . Esparagosa, Lucia Sgd.
194 . Espina, Sinforiano Sgd.
195 . Estrella, Jenelyn Sgd.
196 . Exim, George Sgd.
197 . Exim, Leonidas Sgd.
198 . Fajardo, Emelinda D. Sgd.
199 . Fajardo, Rufina B. Sgd.
200 . Fajardo, Teresita Sgd.
201 . Fernandez, Hermogena Sgd.
202 . Engr.Flores, Mario E. Sgd.
203 Flores, Melchor E. Sgd.
204 Flores, Ramil-Jun Sgd.
205 . Floresca, Cristine Evan C. Sgd.
206 . Floresta, Mina Sgd.
207 . Fordan, Marivic Sgd.
208 . Francisco, Julieta Sgd.
209 . Gabutan, Alvin Sgd.
210 . Gabutan, Mercy Sgd.
211 . Galang, Consolacion S. Sgd.
212 . Gallo, Bonifacio Sgd.
213 . Gallo, Ellaine Sgd.
214 . Gamela, Lucia Sgd.
215 . Gapus, Elena Sgd.
216 . Garcia, Rufa Sgd.
217 . Gasatan, Edmundo Sgd.
218 . Gelicana, Pacita Sgd.
219 . Gellangao, Evelyn Sgd.
220 . Gellangao, Josephine Sgd.
221 . Gellangao, Pepe Sgd.
222 . Gemota, Aurora Sgd.
223 . Gemota, Christian Louie Sgd.
224 . Gemota, Hilda Sgd.
225 . Gemota, Joel Sgd.
Page 24 of 29 Per BOA Res. No.188 dated 23Sept10

226 . Gemota, Mary Grace Sgd.

227 . Gemota, Perlino Sgd.
228 . Gemota, Ricarda Sgd.
229 . Gemota, Rolando Sgd.
230 . Generale, Milagrosa Sgd.
231 . Generale, Cristita Sgd.
232 . Generale, Elma Sgd.
233 . Generale, Mary Grace Sgd.
234 . Gonhuran, Rosie Sgd.
235 . Gonhuran, Solomon Sgd.
236 . Gravillo, Melchor Sgd.
237 . Gravillo, Enrico Sgd.
238 . Guadalquiver, Arien Sgd.
239 . Gumapac, Arminda Sgd.
240 . Hatamosa, Emelita Sgd.
241 . Hatamosa, Hermilo Sgd.
242 . Hatamosa, Noel Sgd.
243 . Hatamosa, Noneto Sgd.
244 Heneral, Melinda Sgd.
245 . Himaya, Bonifacia Sgd.
246 . Idul, Josephine Sgd.
247 . Ignacio, Juanita Sgd.
248 . Ingay, Jonathan Sgd.
249 . Isidro, Joyse Giel Cañ ete Sgd.
250 . Jaso, Susana Sgd.
251 . Jocame, Merilyn Sgd.
252 . Jovellano, Rolyn Sgd.
253 . Jubilan, Rena Sgd.
254 . Jumawan, Quiterio Sgd.
255 . Kumaladang, Jeorge Sgd.
256 . Labasano, Abundia Sgd.
257 . Labasano, Emelina Sgd.
258 . Labasano, George Sgd.
259 . Labasano, Sylvia Sgd.
260 . Labesores, Eleazar Sgd.
261 . Lagat, Gemma C. Sgd.
262 . Lagat, Shirly Sgd.
263 . Lapinid, Carmencita Sgd.
264 . Laranio, Gilmar Sgd.
265 . Laranio, Lapurisima Sgd.
266 . Lasaga, Rhodora Sgd.
267 . Layaguin, Fernando Sgd.
268 . Layda, Jay Jay B. Sgd.
269 . Layno, Wilma Sgd.
270 . Ledres, Ermelinda Sgd.
271 . Legarda, Monina Sgd.
272 . Legaspi, Aireen V. Sgd.
273 . Legaspi, Roy V. Sgd.
274 . Limpahan, Feliciana M. Sgd.
275 . Linog, Alice Sgd.
Page 25 of 29 Per BOA Res. No.188 dated 23Sept10

276 . Llanto, Anamyrna Sgd.

277 . Llanto, Annaliza Sgd.
278 . Llanto, Florencia Sgd.
279 . Llanto, Jocelyn Sgd.
280 . Llanto, Jorge Sgd.
281 . Llanto, Perfecto, Jr. Sgd.
282 Llanto, Rosalio Sgd.
283 . Llorica, Cristina Sgd.
284 . Lobitos, Elias Sgd.
285 . Lobitos, Jaypee L. Sgd.
286 . Lubon, Carolina Sgd.
287 . Lugo, Flaviano Sgd.
288 . Lumogdang, Rex Sgd.
289 . Divina Macapobre Sgd.
290 . Macapobre,Warlito Sgd.
291 . Magbanua, Flordeliza Sgd.
292 . Maghari, Jaimitillo Sgd.
293 . Maghari, Maribel Sgd.
294 . Maghari, Virginia Sgd.
295 . Magallena, Rosevilla Sgd.
296 . Mamac, Eva Sgd.
297 . Mamac, Lito Sgd.
298 . Mamon, Arnold Sgd.
299 . Mamon, Josefina Sgd.
300 . Mamon, Redegunda Sgd.
301 . Mancao, Jonathan Sgd.
302 . Mancao, Merlita Sgd.
303 . Mancao, Nathaniel Sgd.
304 . Mancao, Porferio, Jr. Sgd.
305 . Mancao, Porferio, Sr. Sgd.
306 . Mangalos, Candelaria Sgd.
307 . Maning, Apolonio Sgd.
308 . Maning, Solidad Sgd.
309 . Maning, Virginia Sgd.
310 . Manrique, Jeniffer Sgd.
311 . Mantac, Mercy Sgd.
312 . Mante, Norma Sgd.
313 . Manzanillo, Marina Sgd.
314 . Maque, Rosalinda Sgd.
315 . Marasigan, Sabino Sgd.
316 . Marfil, Milagros Sgd.
317 . Martinez, Mark Sgd.
318 . Martinez, Susan Sgd.
319 . Matute, Marissa Sgd.
320 . Mejogue, Marybeth Sgd.
321 . Mirabueno, Elmer J. Sgd.
322 . Mirafuentes, Rosita Sgd.
323 . Molleno, Allen L. Sgd.
324 . Molleno, Elsa Sgd.
325 . Molleno, Evangeline Sgd.
326 . Molleno, Gloria C. Sgd.
Page 26 of 29 Per BOA Res. No.188 dated 23Sept10

327 . Molleno, Remedios Sgd.

328 . Molleno, Jose Sgd.
329 . Molleno, Nilo Sgd.
330 . Moncano, Anadelia Sgd.
331 . Monreal, Cesar Sgd.
332 . Monreal, Romeo Sgd.
333 . Monteras, Aida Sgd.
334 . Monteras, Conchita Sgd.
335 . Monteras, Hazel Sgd.
336 . Monteras, Ruth Sgd.
337 . Monteras, Victorio Sgd.
338 . Mosquera, Jessica Sgd.
339 . Nacua, Alejandro Sgd.
340 . Nacua, Avelina Sgd.
341 . Nacua, Marina Sgd.
342 . Nacua, Marlon Sgd.
343 . Navales, Dominador Sgd.
344 . Navales, Lina Sgd.
345 . Obenita, Mindalou Sgd.
346 . Obrador, Luz Sgd.
347 . Ordaniza, Virginia Sgd.
348 . Ojena, Felisa Sgd.
349 . Ojena, Josefa Sgd.
350 . Oktohan, Evelyn Sgd.
351 . Ongcoy, Necasio Sgd.
352 . Orbita, Angela Sgd.
353 . Orbita, Cristina Sgd.
354 . Orellaneda, Haydi Sgd.
355 . Orillaneda, Thelma Sgd.
356 . Ortiz, Corazon Sgd.
357 . Paculba, Esterlita Sgd.
358 . Pacyao, Apolinar Sgd.
359 . Paday, Rosella Sgd.
360 . Padillia, Honorena Sgd.
361 . Pagayon, Jeroden Sgd.
362 . Paguntalan, Miangcho Sgd.
363 . Pag-usara, Sofia Sgd.
364 . Paligutan, Bernaditha Sgd.
365 . Palma, Riza Sgd.
366 . Pama, Francisco Sgd.
367 . Pama, Gilconeda Sgd.
368 . Papasin, Cipriano Sgd.
369 . Papasin, Gina Sgd.
370 . Papasin, Jonald Sgd.
371 . Papasin, Julieta Sgd.
372 . Papasin, Roberto Sgd.
373 . Papasin, Rufina Sgd.
374 . Paquidongan, Luz B. Sgd.
375 . Parcon, Noemi Sgd.
376 . Patenio, Concepcion Sgd.
377 . Penales, Crisanto Sgd.
Page 27 of 29 Per BOA Res. No.188 dated 23Sept10

378 . Penales, Letecia Sgd.

379 . Penales, Rosiel Sgd.
380 . Penales,Jovencio Sgd.
381 . Pepito, Allan Sgd.
382 . Pepito, Daisy Sgd.
383 . Pepito, Epifania Sgd.
384 . Pepito, Florita Sgd.
385 . Pepito, Veronica Sgd.
386 . Peralta, Felixberto Sgd.
387 . Perialde, Noel Sgd.
388 . Perocho, Wilfredo Sgd.
389 . Pido, Eliza Sgd.
390 . Piñ ero, Erlinda Sgd.
391 . Piñ ero, Gavbernor Sgd.
392 . Pinero, Gavgrenor Sgd.
393 . Poblador, Amy Grace Sgd.
394 . Porras, Arce Sgd.
395 . Posas, Marvelyn Sgd.
396 . Posas, Pedro Sgd.
397 . Posas, Rogelio Sgd.
398 . Prado, Christopher Sgd.
399 . Rabino, Nestor Sgd.
400 . Rabuya, Ermelita Sgd.
401 . Racines, Frederick V. Sgd.
402 . Racines, Lucita V. Sgd.
403 . Reginan, Elesia Sgd.
404 . Regoniel, Arlene Sgd.
405 . Reguyal, Ma. Realyn Sgd.
406 . Relatado, Pablo Sgd.
407 . Remotigue, Noime Sgd.
408 . Repaso, Efrena Sgd.
409 . Robles, Perla Sgd.
410 . Rogero, Nenita Sgd.
411 . Rubio, Abundio Sgd.
412 . Ruga, Reynalda L. Sgd.
413 . Ruiz, Danilo Sgd.
414 . Ruylan, Jerry Sgd.
415 . Sabanal, Guillermo Sgd.
416 . Salac, Elisa Sgd.
417 . Salud, Imelda Sgd.
418 . Salud, Jovencio Sgd.
419 . Salud, Pascuala Sgd.
420 . Sambayon, Carolina Sgd.
421 . Samon, Diosidad Sgd.
422 . Sanico, Elisa Sgd.
423 . Saraum, Nenita Sgd.
424 . Satorre, Rizel Sgd.
425 . Sayson, Jovy S. Sgd.
426 . Sebios, Lucio Sgd.
427 . Sebumit, Bernadita Sgd.
428 . Sedoriosa, Jimmy Sgd.
Page 28 of 29 Per BOA Res. No.188 dated 23Sept10

429 . Sedoriosa, Nestora Sgd.

430 . Sellon, Carolina Sgd.
431 . Semblante, Johna Sgd.
432 . Serra, Rene Sgd.
433 . Serenio, Solita Sgd.
434 . Sereñ o, Rosalinda B. Sgd.
435 . Siarot, Fe Sgd.
436 . Soliva, Cecilia Sgd.
437 . Soliva, Fe Sgd.
438 . Sollano, Andrea Sgd.
439 . Sollano, Ma. Elena Sgd.
440 . Sollano, Rosita Sgd.
441 . Soria, Alberto Sgd.
442 . Subillaga, Anabel Sgd.
443 . Sugabo, Adelina Sgd.
444 . Tabaosares, Dominico Sgd.
445 . Talaban, Anecita Sgd.
446 . Tello, Lolita Sgd.
447 . Tibay, Leonora Sgd.
448 . Tibay, Minda Sgd.
449 . Tipunan, Jovelyn Sgd.
450 . Tirol Betty Sgd.
451 . Tirol, Leny Rose Sgd.
452 . Toledo, Analyn Sgd.
453 . Tomeldin, Elinita Sgd.
454 . Tongson, Verna Sgd.
455 . Tonog, Liezel Mae Sgd.
456 . Torreon, Miguel Sgd.
457 . Torres, Jenelyn Sgd.
458 . Torres, Marion Sgd.
459 . Torres, Rosalyn Sgd.
460 . Trinidad, Rosan Mae Sgd.
461 . Tuario, Ildefonso Sgd.
462 . Tuario, Eulogia Sgd.
463 . Tubelonia, Editha Sgd.
464 . Tuburan, Vicente Sgd.
465 . Valente, Juda Sgd.
466 . Vasquez, Marylou Sgd.
467 . Verano, Josefina Sgd.
468 . Verano, Marcial Sgd.
469 . Verayo, Mercedes Sgd.
470 . Verdon, Antonina Sgd.
471 . Verdon, Edelberto Sgd.
472 . Verdon, Edmundo Sgd.
473 . Verdon, Ernesto Sgd.
474 . Verdon, Gregoria Sgd.
475 . Verdon, Leopoldo Sgd.
476 . Verdon, Prima Sgd.
477 . Verdon, Ruby Sgd.
478 . Verdon, Sofia Sgd.
479 . Verdon, Wilfredo Sgd.
480 . Villabeto, Juliet Sgd.
Page 29 of 29 Per BOA Res. No.188 dated 23Sept10

481 . Villanueva, Herminia Sgd.

482 . Villareal, Helen Sgd.
483 . Villareal, Rachel Sgd.
484 . Vismanos, Teodocia Sgd.
485 . Zamora, Franz Josef Sgd.
486 . Zamora, Rose May Sgd.

SIGNED IN THE PRESENCE OF:

DINA L. INOPEL PILAR L. LOBITOS

We, the undersigned, constituting the secretary and majority of the

Board of Directors of the Paglaum Consolidated Multi-Purpose Cooperative, do
hereby certify that the forgoing instrument is the code of By-Laws of the said
Cooperative.

NOEL M. HATAMOSA
Chairman-Affiliant

ROSALIO T. LLANTO,SR. MARELIN P. EMBALZADO EDMUNDO M. GASATAN

Director-Affiliant Director-Affiliant Director-Affiliant

JENNY S. EMBALZADO MARYLOU V. VASQUEZ GAVGRENOR S. PIÑERO

Director-Affiliant Director- Affiliant Director-Affiliant

RENE G. SERRA
Secretary-Affiliant