The document is a board resolution from the L.I.P.A.D Multi-Purpose Cooperative dated January 19, 2014 that outlines several policies. It states that registration will be postponed to allow for finalizing capital requirements, training, and implementing rules and regulations. The cooperative will conduct member-only loans and rice loans as a test. An additional 100 peso membership fee was approved to cover registration fees. A moratorium on continuous capital build-up payments was approved after minimum subscriptions are paid, and loan guidelines were sanctioned by the board.

1. BR001-2014
19th of December 2014
L.I.P.A.D MULTI-PURPOSE COOPERATIVE
Board Resolution No.001
Series of 2014
Initial Agreement on Registration,
Pre-registration, Business Test Run and
Initial Member Loan Implementing Rules and Regulations
Following the Initial Board and Core Persons Meeting held last 19th of December; the following policies shall be applied
and set into implementation by the Lipad Multi-purpose Cooperative.
Whereas, upon majority of the Board decision, the registration shall be indefinitely put off to be rescheduled to another
date due to the following reasons:
1.
2.
3.
4.
Finalizing Multi-purpose Cooperative paid-up and subscribed capital requirements.
Installation of parliamentary procedure.
Installation of Implementing Rules and Regulations.
BOD and Officers Training.
Pursuant to the General Assembly decision, the Cooperative shall be involved in a run through business to test the
market for profitability and feasibility. The Cooperative shall be involved in the following:
1. Member only Loans
2. Rice Loans
Whereas, majority of the Board decision agreed upon changes in the Membership fee and details of the Continuous
Capital Build-up.
An additional ONE HUNDRED PESOS (PHP 100) as membership fee has been agreed upon and it shall be implemented
immediately this January 2014. Necessary adjustments in the Cooperative’s documents and information dissemination are required.
The additional membership fee shall cover the necessary fees required for registration.
A moratorium on the Continuous Capital Build-up shall be in effect after completion of the minimum Share Capital
Subscription Payments. Increase in Capital for members shall be voluntary but highly recommended. Resumption of the said
Continuous Capital Build-up shall be first studied and reviewed by the Board before implementation.
Implementing Rules and Regulations on Share Subscriptions and monthly payments are on hand and shall be publicly
disseminated.
Implementing Rules and Regulations on Member Loans has been sanctioned by the Board and is already in effect.
Copies of the said document shall be distributed to all members. All member loans shall follow the said guidelines and all Officers
shall be responsible in its proper implementation.
All information in this Board Resolution shall take effect immediately. Any changes approved and sanctioned by the
Board of Directors shall be made known to all members before implementation.
Approved this 19th day of January, 2014 at Pulo, City of Cabuyao, Laguna, Philippines.
Jay de jorge
Board Chairperson
Angelo James Furto
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Eldina Navea
Andres Aragon
Jeniffer Zaporteza
Jinalyn Paat
Rodan Belesario