MEMORANDUM CIRCULAR NO. 2020-14
Series of 2020.
SUBJECT : AMENDMENT TO MEMORANDUM CIRCULAR NO. 2020-03, S-2020
For and in consideration of Resolution No. 123, S-2020, dated May 20, 2020 and Resolution No. 136, dated June 4, 2020, of the CDA Board of Directors and in consonance with Item D(5) of the Inter-Agency Task Force Resolution No. 38, Series of 2020, dated May 22, 2020, cooperatives of all types and categories duly registered with the Authority are hereby advised of the following:
- The conduct of general assembly meetings which are being held annually in order to report to the members their activities, transactions, and accomplishments for the CY 2019 shall be indefinitely postponed until such time that the IATF allows mass gatherings, EXCEPT for cooperatives which opted to conduct their regular general assembly meetings through videoconferencing pursuant to MC No. 2020-10, including amendments thereto;
- The term of elected officers ending on CY 2020 shall be extended and incumbent officers shall serve on a hold-over capacity until the conduct of the next regular general assembly meeting and election of officers.
- The cooperative shall continue to operate on a reenacted budget.
This Circular in effect modifies the first paragraph of Section 3 of Memorandum Circular No. 2020-03, S-2020, entitled “Regulatory Relief for Cooperatives in View of Proclamation No. 922” which states:
“Section 3. REGULATORY RELIEF.
In the light of the above-stated Proclamation No. 922, cooperatives are hereby allowed to postpone their scheduled general assembly meeting and election of officers for a period of three (3) months from the effectivity of this Circular or until such time that the State of Public Health Emergency is lifted, whichever comes first. Incumbent officers shall be on hold-over capacity until such time that a general assembly meeting and election of officers are conducted. Pending the conduct of the general assembly meeting, the cooperative shall operate on a reenacted budget.
All concerned CDA Regional Offices must endeavor to inform and disseminate this Circular to cooperatives within their jurisdiction.
This Circular shall take effect immediately.
Approved per BOD Resolution No. 123, S-2020 dated May 20, 2020.
For the Board of Directors: