REQUIREMENTS FOR THE ISSUANCE OF CERTIFICATE OF GOOD STANDING (CGS

REQUIREMENTS FOR THE ISSUANCE OF CERTIFICATE OF GOOD STANDING (CGS

1. Application letter duly signed by the Chairman or any authorized representative of the requesting cooperative stating therein the purpose of the certificate
2. Indorsement from Cooperative Development Specialist II (CDS II) assigned in the area.
3. Cooperative Annual Performance Report (CAPR) together with the Audited Financial Statements for the preceding fiscal period;
4. Copy of the updated bond of accountable officers/employees of the cooperative;
5. Minutes of the Annual General Assembly Meeting for the preceding fiscal period including the results of the election of the Board of Directors and the Committee members, in accord with the by-laws;
6. Certification by the Chairman or the Secretary of Actual specific Business Undertaken during the preceding fiscal period, and that the requesting cooperative is compliant with the Standard Chart of Accounts appropriate to its type;
7. Certification from the Legal Officer of the CDA Extension Office that the cooperative has no pending case; and
8. Certification fee of P200.00 (plus penalty of P300 for late filing, if the coop applies for CGS after 120 days from the close of its fiscal period and P300 for every year of failure to secure CGS)