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Share Capital Policy


Version Date: 20 February 2019

 

Article I

DECLARATION OF POLICY

This policy paper provides guidelines governing share capital contributions of the Cooperative. The policy is aimed at providing a reasonable and realistic member share capital build-up to allow for the continuing growth of members’ investment in the Cooperative.

 

Article II

DEFINITION

The term “share” shall refer to a unit of capital with a par value of One Hundred Pesos (P100.00).

 

Article III

MINIMUM AND MAXIMUM SHARE CAPITAL SUBSCRIPTION

As mandated by RA 9520 or the Philippine Cooperative Code of 2008, no member shall own or hold more than ten (10) percent of the total share capital of the Cooperative.

Minimum: The minimum share capital subscription per member shall be Two Hundred (200) shares with a total value of Twenty Thousand Pesos (P20,000.00).

Maximum: The maximum share capital subscription per member shall be Five Thousand (5,000) shares with a total value of Five Hundred Thousand Pesos (P500,000.00).

 

Article IV

SHARE CAPITAL CONTRIBUTION

To promote continuous capital build-up, members are required to invest in the Cooperative in the form of share capital, as follows:

  1. Initial Share Capital Contribution: Upon approval of membership, a member is required an initial share capital contribution of at least ten (10) shares or at least One Thousand Pesos (P1,000.00).
  2. Continuous Capital Build-Up: After the initial share capital contribution, members are required to contribute a minimum of five (5) shares or Five Hundred Pesos (P500.00) a month until the minimum Share Capital Subscription has been paid up.
  3. After the minimum share capital subscription of two hundred (200) shares or Twenty Thousand Pesos (P20,000.00) has been paid up, monthly share capital build-up for a member becomes optional. A member who has fully paid the required minimum share capital subscription may choose to continue his/her capital build-up up to the maximum share capital subscription of five thousand (5,000) shares or Five Hundred Thousand Pesos (P500,000.00).

 

Article V

WITHDRAWAL OF SHARE CAPITAL CONTRIBUTION

Only upon termination of membership shall a member be entitled to a refund of his/her share capital contribution. Partial withdrawal of share capital is not allowed.

 


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