Restrictions on borrowing.
Section 56
SEC. 56. Restrictions on borrowing.—A co-operative shall receive deposits and loans from members only to such extent and under such conditions as may be prescribed by the regulations and the by-laws.
RA 2023 Section 56
Other provisions in CHAPTER VI.—Duties, responsibilities and privileges of co-operatives
- Section 51: Maintenance of books, records, and accounts and their production.
- Section 52: Duty to account and publish financial statements.
- Section 53: Annual Report.
- Section 54: Duty to furnish information and required reports.
- Section 55: Bonding of accountable officers.
- Section 57: Restrictions on loans.
- Section 58: Restrictions on other transactions with non-members.
- Section 59: Co-operatives to be bodies corporate.
- Section 60: Co-operative's power to call for statement of claims.
- Section 61: Debts due to co-operatives shall be a first charge.
CitationRA 2023 Section 56 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
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