Section 5March 10, 1990, Sec./Art. 5

Qualifications of Members of the Governing Board. - No person shall be appointed Chairman or member of the Board of Administrators unless he possesses the following qualifications:

(a) A natural-born Filipino citizen of legal age;

(b) A Bachelor's Degree in Cooperatives, Economics, Finance, Agriculture, Fisheries, Veterinary Medicine, Business, Social Science, Law, Management, or in similar fields of study and five (5) years of experience as an official or officer of a cooperative, government agency, or nongovernment organization engaged in cooperative development or, in the absence of a Bachelor Degree, at least ten (10) years of experience in cooperatives either as an officer of a cooperative or a government agency or nongovernment organization engaged in cooperative development; and

(c) Must be a resident of the region he represents for at least five (5) years.

Any person appointed as Chairman or regular member of the Board of Administrators shall divest himself of any direct or indirect pecuniary interest in or dealings with cooperatives upon his appointment.