Section 12Sec./Art. 12

Authorized, Subscribed and Paid-Up Capital of CSF Cooperatives. At least twenty-five percent (25%) of the authorized capital share as stated in the articles of cooperation must be subscribed at the time of registration, and at least twenty-five percent (25%) of the total subscription must be paid upon subscription. In no case shall the paid-up capital share be less than five thousand pesos (P5,000.00): Provided, That the required paid-up capital share for CSF Cooperatives may be increased every five (5) years, when necessary, upon determination by the CDA.

For purposes of this Act, the CSF shall not be deemed as part of the authorized capital stock.