Prohibition of the use of the word "Co-operative".
SEC. 107. Prohibition of the use of the word "Co-operative".—
No person or group of persons other than a co-operative registered under this Act, except as authorized under other co-operative laws, shall carry on business under any name or title of which the word "co-operative" or its equivalent in vernacular forms part without the sanction of the Secretary of Commerce and Industry: Provided, That any person or group of persons or their successors in interest using the word co-operative or its equivalent in the vernacular in any name or title under which they carried on business before the enactment of existing co-operative laws and this Act may continue to use the word co-operative or its equivalent in vernacular.
Whoever violates the provisions of subsection (1) shall be punished by a fine of not exceeding two hundred pesos at the discretion of the court, and in the case of continuing offense, by a further fine of twenty pesos for each day such offense is continued.
Offenses.
SEC. 108. Offenses.—
Any officer, director or committee member of a co-operative:
With a paid-up capital of five thousand pesos or more, who fails without reasonable excuse to give any notice, send any return or document, do or allow to be done anything which the cooperative, officer, director, committee member or member is by this Act required to give, send, do or allow to be done; or
Who neglects or refuses to do any act or to furnish information required for the purposes of this Act by the Administrator or other person duly authorized by him in writing in this behalf; or
Who makes a false return or furnishes false information; or
Who recommends or sanctions for his own personal use or benefit a loan in the name of any other person in spite of the concurrence of such other person; or
Who grants loans to non-members except on the security of their deposits or to members on the pledge of their shares or for the return of shares of certain members or all the members without resolution of the board or the general assembly, as the case may be, with a view to depriving the creditors of the co-operative or to circumvent the provisions of Chapters XI and XII; shall, upon conviction be punished by fine of not less than fifty pesos nor more than five hundred pesos, in the discretion of the court, without prejudice to other legal remedies.
Any officer, director, committee member or member of a co-operative guilty of an offense for which no specific penalty has been provided in this Act shall be liable to a fine of not less than twenty-five pesos nor more than one hundred pesos, in the discretion of the court, without prejudice to other legal remedies.
Penalty for nonperformance of obligations.
SEC. 109. Penalty for nonperformance of obligations.—Notwithstanding the provisions of this Act, where a cooperative or a person required to take action under this Act, under the regulations or the by-laws and such action is not taken—
Within the time provided in this Act, the regulations or the by-laws; or
Where no time is provided, within such reasonable time as the Administrator may specify by a notice in writing, the Administrator may apply to the court for an order which shall call upon any person whom the Administrator considers to be responsible for the carrying out of his directions and after giving such person an opportunity to be heard, requiring him to pay to the assets of the co-operative such sum not exceeding twenty pesos at the discretion of the court for each day until the directions of the Administrator are carried out.
Penalty for certain acts.
SEC. 110. Penalty for certain acts.—Where it appears to the Administrator, that any person has contravened the provisions of this Act, the regulations or the by-laws—By sitting or voting as a member of board or committee or voting in the affairs of a federation of co-operatives as a representative of another co-operative which is a member of such federation, or exercising the rights of a member of a co-operative, when such person was not entitled to sit or vote or exercise such rights, as the case may be; or
By applying a loan for a purpose different from that for which it was granted; the Administrator may apply to the court for an order, which shall after affording such person an opportunity to be heard, directing such person to pay to, the assets of the co-operative by way of penalty such sum as the court deems fit in respect of every such contravention.Approved, June 22, 1957.
Penalty for disposing of property in contravention of Section 61.
SEC. 111. Penalty for disposing of property in contravention of Section 61.—Any member or past member, or the heir or legal representative of a deceased member who, in violation of the provisions or section sixty-one, fraudulently disposes of any property over which a co-operative has charge under that section or doing any other act and to the prejudice of such charge, shall, in addition to other legal remedies, be punished by a fine of not exceeding five hundred pesos in the discretion of the court after hearing the party concerned.
Prosecution of offenses.
SEC. 112. Prosecution of offenses.—No prosecution for offenses under sections one hundred seven, one hundred eight, one hundred nine, one hundred ten and one hundred eleven of this Act shall be lodged without the previous written sanction of the Administrator, who shall not give sanction until after hearing the party concerned: Provided, That if the offenses constitute criminal acts punishable under the Revised Penal Code, the same may be prosecuted even without the previous sanction of the Administrator.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
