According to Article 3 of Republic Act 9520 (RA 9520), a cooperative is an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.
Any natural person shall be eligible for membership in a primary cooperative if the applicant meets the qualifications prescribed in the bylaws. An applicant for membership shall be deemed a member after approval of his membership by the Board of Directors and shall exercise the rights of members after having made such payments to the cooperative in respect to membership or acquired interest in the cooperative as may be prescribed in the bylaws. In case membership is refused or denied by the board of directors, an appeal may be made to the general assembly and the latter’s decision shall be final.
The membership of this Cooperative is open to all natural persons, Filipino citizens, of legal age, with capacity to contract and, within the common bond and field of membership of having Certified Aquilaria malaccensis (Bari) plantation and farming business.
- Agriculture Cooperative (Farming, Growing, Maintaining agroforestry nursery for perfumery and related crops, and geotagging services.
- Other services: Savings Deposit, Time Deposit, Dual Currency Deposit and Seedlings Loan.
REQUIREMENTS TO JOIN:
- Submit the Membership Application Form (Sample from Agarwood Cavite Agriculture Cooperative)
- The minimum share capital subscription per member shall be Twenty (20) shares with a total value of Two Thousand Pesos (P2,000.00).
- Pay one time non-refundable Membership Fee is P1,000.
- With minimum 100 seedlings purchased from the accredited nursery operator for one stock one policy in growing Agarwood.
- Inquire here to check if there is an Agarwood Agriculture Cooperative in your location.