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The requirements are the same as a regular registration of a new
cooperative, however, there are a few additional requirements in case of a new
cooperatives as a result of division.
These few additional documents would include a:
a.
b.
certified resolution of the division as approved by the
assembly, also
the plan of division financial statements,
c.
proof of the publication or posting end of the sending of notice
to creditors, and the
d.
original certificate of registration among other documentary
requirements.
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Once the registration requirements are found to be complete and in order,
the CDA will now issue the certificates of registration to the new cooperatives.
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The certificate of registration of the original cooperative has to be
surrendered to the CDA for cancellation, because the old certificate and the
new ones cannot coexist, you have to cancel the old ones because again the
original cooperative has been dissolved because it had split or divided into
cooperatives with separate juridical personalities. Same as with a regular
registration, the new cooperatives acquire juridical personality only from
the date that the CDA issues the certificates of registration.
Merger and Consolidation
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If a cooperative can divide, it can also enter into mergers or
consolidation, but this can only take place between cooperatives that
belong to the same category. Meaning that only a primary cooperatives can
merge with primary cooperatives, secondary with secondary, tertiary
cooperatives with tertiary cooperatives.
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Merger is the union between two or more existing cooperatives belonging
to the same category where the surviving cooperative retains its identity while
absorbing one or more constituent cooperatives. The surviving cooperative
retains its identity while absorbing another one or more cooperatives.
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Consolidation in the other hand is a union of two or more existing
cooperatives belonging to the same category forming a totally new cooperative
called the consolidated cooperative.