Paseeoger sndlt cargo eeneporstion by an or eacouston men and pe Ren od ‘sec 12, Arcee $0, 92 and 98 af Chapter ID on the ‘speci! Provisions on Pe Service Cooperatives of the same S65 Soe bureby tunaerrd to noer chapter. Chapter XI. (S), Mavagement, easervation, and ceaeraal decbptn of iarne, eyt int ‘Sater and eter nataral resources subject 16 Coupiianee itn the tts soe gelatine oe Gnvurmcntl abd ecological patel ahd “@) Beosion of Banca, technol, ep other services apf acinus Fequired uy toe Sensfcavon sm thelr dany Lives tnd ivelbond, “tue Goeramto! shall provide ce necessry facial td cial sts Yo agen ek (ati ee hem he fr purpae inane th ore he DAR he RODGOME ta he BEE Sal dea up sot otf th pio ad un of Epinan rekem certs sero tr Chapter Been pol shal bo peared wade Eegedtasee radu asounytiono toll ona Ssfimacapsu ested fhe sponse veins ‘Ai 94 Orgnization ond Retraton. ‘Agi tata Gupatves tay bo ebaaed tnd ‘mbes Godel pon par eicon ‘Whee ye Uae ie es thar te sae Uncle a de by the beaches auc i sly that hae bed onde’ ay eta {be cnotn fest of srgencg tte ae sod ‘hast wl be eeenmenly A a opto tty some may tom be ettand ad fap in acrdance with egeens ‘this Code. * “ ‘The Authonty, sp consultation with the consent pveomee sees std conperaie ‘et datloae spprapite le a eeplotans Pertaining tothe prnans af his Chapter. Seetaeated hall now read a follows ouarren xt Cooperative Bans “ann. 96, Guerning Law. — The provisions of thie Chuvice agal pm govern operate Se eer weer thie Coie and the other ations of thie Code ehal apply to her oly prouione tye are. ace anconsutent. with the ‘Morison conteloea im ts Chapter ‘nut, 96, Supersiion, ~ The cooperative ‘panke pared ner thi Cade eal be under she SEES ofthe ASH. The BSP, vpon conetaton EP Aatuony ant Ube concerted cacy TERRI Rrnulate guidelines reearding the ne os epee ss asd LT ge Gua fegetin fo the Ciniguntootuge ood character of cooperative Yar Tokkis ends cooperseive Sanks sal provide ‘ania! aod Waning series 12 ts member. vaRe. 97, Organization, Membership aud Establishment ofa Cooperative Bonk. — C) nuntieopitariong au etinind and TEEESNibe pan, whush al ews be conered (Seka ristrable under the prosisons of he ESE Sabet he roquzopenes and reauiote Soifinenton fem the BSP” Only one cooperative fn nay be etabsed in each prone: Pde ‘That op eddstional cooperative beak may be Ta tbal in he ane yeowtnce so eater co he feeds ef the Hocalty depending on the scare eens tthe provio ae ay te determined by SRETESPS Posutded, are, Tht the addonal Peerative bank ehall be ised the a9 oFo ‘municipality ether than the city or munity hese the fist cooperative bank is ated “@) Membership in.» cooperative bank sal tither be reper or atone: Hegdar meabostee, hall be Listed ‘o operate angoniatons hick ‘ve bolders of common shams of he bank Aue, Bombers ate those ‘ubsterbing and helleeg refered share of the lane wb anche ba fre net tinted che faloming “GW Individual members of the bank's smemberpriuary competative, ani apiece a eh res gears oe eat iigees Sie erate ieee BEER SEE cates Ego creme gees Proved, That they thal ney he coors Bal bre os ee ceagaed @aresiocgece ea aeetened St this ‘Act't0 complete their conversion st cite deerme eon ite gece fae goa ec ten the ilre of te Sunchong Noyce ed IES tammracie sine ooh ‘eerie te snr ay some ta ae Sena mse 210) Th antcles of copraton snd bylaws of a course hank eran etsnene heres hall Seated iS Ue ethno when Sconganied ty © eft of utbongy a ORR end ec oe “ART 98. Administration of Cooperative Bonks.— To waintain the quality of dane ‘Banagetont and ocond appropriate protection to Alpontors apd the pabke sr peesral the BSP shall precribe the fe ar propa quaiicasons of bank Sirens ant office fr the popes athe arta, fiving due zecogntion to the une natu ad haractar of cooperative beak exiting the rn of hs Cae, the number, compeettion aad tm of tio boa ‘rectora shall be cefined sn te articles of operation and Byles of she sparse bank “AR. 99. Quorum and Going Rights — The quorum requirement fr general assembly metings, ‘thts epee a mule, Sal er ral plus one tthe numberof voring shares of all he members th gaol landing. In te mactings of Ue Ward of dlioetors whether spel or Fula, the quorem. Seouement shall Se ono-baif plus ne ofa the ‘embers ofthe board of rectors, Each director ‘al aly bave one vote *Notwithtanding the provisions of thio Cade ‘to the contrary, the quorum requirement for Smendsicnes of aries oopertas Se byl a beeen Gi eto ate members ‘wish voting eight, present and constituting (quorum. ll other voting roqirements shall bea Dreceibed by the BSP ‘The voting rights of members shall be proparonte athe mumber of ther pup cares. ZART 10 Powers, Ranetions ond Aled Underatnae of Conner “A caperatve ‘ot shall prmariyprome Snaeal, ben at ‘et serie to caoperativ organs and their smembers, Howerer, the BSP may preseribe Sppropeaie fuelnee, celinge and conditionborrowings of @ coporaive crganisation fom 8 ‘opens Baa “ « “Ths powets and futons of a coparatioe ‘oak bal be mabe to rach rales apd roguntone Seay te promulgate! by Uw BSP. ation t the powers ranted by Cote an Sher exsing nus any operate ba Ser gerorm soy oS ofc Sosting seeves Tied yer pe of bar sp he rat Spproval ofthe BE weceten ope lt: Gyn daeret na omy be requ by the BSP. = “he py ss me ad ee on pa reece ca series aera ict ae Rae Sara 2) ‘The Bawio Savings Fund (BSP) and Barna Guarantee Fund BG) snleedaed br ous bans toi the county fre Fomad of ermertcowere wh he ale of Exoeratins and Saahane Napor in sminss sri Ered Decree No 198d Seong itera entraces whch oe ml forged Sutseanding wither sp soveo doraant dept SStvunta ‘tthe aks of tone bask abl be ‘pelea he Sines al ead he Dron whore the depen bank the BST an BGE'oloated on hee no Coperstne bank Inthe pomnty,t the copes Be eee 0 the peri, fe BSP cnt the ‘Riulonty, shal come bp il the saglonenting icine on how toed the ore tv fa ‘Those funds whose owner coal nt be Losted oF ‘Heid shal be subject aches “an. 102, Priilgse ond Incentives of Ccooperatice Banks. ~The cocperauve bank CGRered der tie Cote shall be given te cae regs and ancenene granted to te rare tenis Prt deveepnontcanks,commereal boDks, EB her bone t edhecount ates withthe BSP, Roi Bani of the Philpainec, and other ‘esse bens mba sang 828 829 Che Rowen of ths Code it) Subject to the approval of the BSP. ceoperstve bane skal publish a satemeat of ‘Gopal conto, stab tone of sulin nl afin, in suc terme underetadobl ty ‘Sf aud in sch oqueney a8 mes be preszibok fy the BSP, in Engbek or Pyne, at least once ees panrter in a mopaper ef ea culation in EREGS cr proce where we praia fico is Sie on i's nowepapar ie sebinhed a the same res then Io a aewspaper Dabishes 20 the ae oy province oe ina newspaper of (fncralcrclation, The BSP, however, may BecTpoetng of she financial statements of the tae ee Rant in comepicaous places it may ‘tmne ine of the pubration require in the determine fotence when warranted by the ioweve, in cams of oeomar of orgs cove ea sed ty = cones Sank ad SOSELGE eden Seon aig pen an ive apn ba sharia be Fr on tegument wes che crema ean exladng intrest od other sera ae and ops, dacs not exceed Te RISEES EFS cad pee (20 00 00 ooh aan erbe BSD ay reset, 2 ma) be amount the preven mono odio Taranto nd characer of the cooper by fhe ya be slice publication ia mck