Presidential Decrees1 min read
Section 40REPUBLIC ACT NO. 6038, AND FOR OTHER PURPOSES., Sec./Art. 40
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Exemption from Board of Power and Waterworks and Securities Exchange Commission.
(a) Cooperatives shall be exempt from regulation by the Board of Powers and Waterworks.
(b) The provisions of the Securities Act shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or to any mortgage, deed of trust, indenture or other instrument executed to secure the same. The provisions of said Act shall not apply to the issuance of membership certificates or any other evidence of member or patron interest by a cooperative.
CHAPTER IV
Franchises; Regulation of cooperatives
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