Section 98March 10, 1990, Sec./Art. 98

Regulation Requirements. - (1) The internal affairs of public service cooperatives such as the rights and privileges of members, the rules and procedures for meetings of the general assembly, board of directors and committees; for the election and qualifications of officers, directors, and committee members, allocation and distribution of surpluses; and all other matters relating to their internal affairs shall be governed by this Code.

(2) All matters relating to the franchise or certificate of public convenience and necessity of public service cooperatives such as capitalization and investment requirements, equipment and facilities, frequencies, rate-fixing, and such other matters affecting their public service operations shall be governed by the proper government agency concerned.

(3) The Cooperative Development Authority and the proper government agency concerned shall jointly issue the necessary rules and regulations to implement this Chapter.

CHAPTER XIII

SPECIAL PROVISIONS RELATING TO COOPERATIVE BANKS