Republic Acts1 min read
Section 16February 17, 2009, Sec./Art. 16
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A new Article is inserted in Chapter XV on Credit Cooperatives and shall now read, as follows:
"ART. 118. Conversion of Credit Cooperatives to Financial Service Cooperatives. Existing credit and multipurpose cooperatives with savings and credit facilities shall formally inform the Authority of its intention to continue performing its present functions. Should the said cooperatives decide to exercise enhanced functions, it shall notify the Authority and satisfy the requirements for conversion to financial service cooperative."
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