CDA to dissolve 144 coops in Davao City
By Mai Gevera
Davao City (14 November) -- The Cooperative Development Authority (CDA) Davao Office bared that 144 cooperatives are subject for dissolution for non-operation.
The dissolution order is pursuant to Article 54 (Annual Report0 and Article 69 Dissolution by Failure to Organize and Operate) of Republic Act 6938 known as the Cooperative Code of the Philippines.
Data showed that there are 1,148 cooperatives in Davao City classified as non-operating while only 560 are operating.
"We based the dissolution on their failure to file the required Annual Report and Audited Financial statements for a minimum of two years as well as failure to carry business upon inspection," said CDA legal officer Tony Escobar.
In Region XI, there are 5,401 total cooperatives; 1,639 coops are operating as of December 2007 while 3,116 are non-operating.
Escobar added that the order of dissolution had been issued by the authority granting the petition for Involuntary Dissolution.
The said order, upon due process, will allow the Authority to strike-off from its register the names of the cooperatives. (PIA) [top]