Prohibition of the use of the word "Co-operative".
Section 107
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.