Professional Documents
Culture Documents
Exam Topics:
RFBT
February 3, 2018, ESSU, Borongan City
Additional Topics (Effective October 2017)
SUSPENSION OF PAYMENTS
A petition of an individual debtor
possessing sufficient property to
cover all his debts but foreseeing
the impossibility of meeting them
when they respectively fall due.
Insolvency Law (RA 10142 or FRIA of 2010)
SUSPENSION OF PAYMENTS
Must be filed before the court of
the province or city in which he
resides for six (6) months prior to the
filing of his petition.
Insolvency Law (RA 10142 or FRIA of 2010)
SUSPENSION OF PAYMENTS
The petitioner must attach:
(a) a schedule of debts and
liabilities;
(b) an inventory of assets;
(c) a proposed agreement with
his creditors.
Insolvency Law (RA 10142 or FRIA of 2010)
VOLUNTARY INSOLVENCY
A petition by an individual debtor
whose properties are not sufficient
to cover his liabilities, and owing
debts exceeding Five hundred
thousand pesos (P500,000.00), for
the discharge from his debts and
liabilities.
Insolvency Law (RA 10142 or FRIA of 2010)
VOLUNTARY INSOLVENCY
Must be filed before the court of
the province or city in which he
resides for six (6) months prior to the
filing of his petition.
Insolvency Law (RA 10142 or FRIA of 2010)
VOLUNTARY INSOLVENCY
The petitioner must attach:
(a) a schedule of debts and
liabilities;
(b) an inventory of assets;
Corporate Rehabilitation (A.M. No. 12-12-11-SC)
• Issuance of a commencement
order.
General Duties of a Receiver
• Banks
• Insurance companies
• Pre-need companies
• National and local government
units
BOUNCING CHECK LAW
Bouncing Check Law (BP 22)
CHECKS WITHOUT SUFFICIENT FUNDS
• the act of making and issuing a
check with knowledge by the
issuer that at the time the check is
issued, he does not have
sufficient funds; and
Bouncing Check Law (BP 22)
CHECKS WITHOUT SUFFICIENT FUNDS
• the failure to keep sufficient
funds to cover the full amount of
the check if presented within a
period of 90 days from the date
appearing on the check.
Bouncing Check Law (BP 22)
CONCLUSION OF PRIMA FACIE EVIDENCE
OF KNOWLEDGE OF INSUFFICIENCY OF
FUNDS
• failure of the drawer to pay the
holder or make arrangements for
payment in full by the drawee of
such check within (5) banking days
after receiving notice that such
check has not been paid by the
drawee.
Bouncing Check Law (BP 22)
CREDIT
• shall be construed to mean an
arrangement or understanding
with the bank for the payment of
such check.
LAW ON COOPERATIVES
Organization and Registration of Cooperatives
GENERAL ASSEMBLY
• Shall be composed of members
who are entitled to vote;
• Shall be the highest policy-
making body;
Administration of Cooperatives
GENERAL ASSEMBLY
• Shall exercise powers as
provided in the Articles and By-
Laws;
• Shall have the following
exclusive powers:
Administration of Cooperatives
BOARD OF DIRECTORS
• Shall be composed of at least 5
but not more than 15 members
elected by the General
Assembly;
• Shall have a term of 2 years;
Administration of Cooperatives
BOARD OF DIRECTORS
• Shall responsible for:
(1) Strategic planning;
(2) Direction setting;
(3) Policy formulation
Administration of Cooperatives
COMMITTEES
• Audit;
• Election;
• Mediation and Conciliation;
• Ethics;
•Other committees
Responsibilities, rights and privileges of
cooperatives
• Shall have an official postal
address to which all notices and
communications shall be sent;
• Shall maintain and keep
documents and reports ready
and accessible to its members
and representatives of the CDA
for inspection;
Responsibilities, rights and privileges of
cooperatives
• Shall make, publish and file the
reports required in this Code;
• Shall bond accountable officers;
• Shall have primary lien upon the
capital, deposits or interest of a
member for any debt due to the
cooperative from such a member;
Responsibilities, rights and privileges of
cooperatives
CREDIT COOPERATIVE
• one that promotes and
undertakes savings and lending
services among its members.
Types and categories of cooperatives
CONSUMERS COOPERATIVE
• is one of the primary purpose of
which is to procure and distribute
commodities to members and
non-members.
Types and categories of cooperatives
PRODUCERS COOPERATIVE
• is one that undertakes joint
production whether agricultural
or industrial.
Types and categories of cooperatives
MARKETING COOPERATIVE
• is one which engages in the
supply of production inputs to
members and markets their
products.
Types and categories of cooperatives
SERVICE COOPERATIVE
• is one which engages in medical
and dental care, hospitalization,
transportation, insurance,
housing, labor, electric light and
power, communication,
professional and other services.
Types and categories of cooperatives
MULTI-PURPOSE COOPERATIVE
• is one which combines two (2) or
more of the business activities of
these different types of
cooperatives.
Types and categories of cooperatives
ADVOCACY COOPERATIVE
• is a primary cooperative which
promotes and advocates
cooperativism among its members
and the public through socially-
oriented projects, education and
training, research and
communication, and other similar
activities to reach out to its
intended beneficiaries.
Types and categories of cooperatives
AGRARIAN REFORM COOPERATIVE
• is one organized by marginal
farmers majority of which are
agrarian reform beneficiaries for the
purpose of developing an
appropriate system of land tenure,
land development, land
consolidation or land management
in areas covered by agrarian
reform.
Types and categories of cooperatives
COOPERATIVE BANK
• is one organized for the primary
purpose of providing a wide
range of financial services to
cooperatives and their members.
Types and categories of cooperatives
DAIRY COOPERATIVE
• is one whose members are
engaged in the production of
fresh milk which may be
processed and/or marketed as
dairy products.
Types and categories of cooperatives
EDUCATION COOPERATIVE
• is one organized for the primary
purpose of owning and operating
licensed educational institutions.
Types and categories of cooperatives
ELECTRIC COOPERATIVE
• is one organized for the primary
purposed of undertaking power
generations, utilizing renewable
energy sources, including hybrid
systems, acquisition and operation
of subtransmission or distribution to
its household members.
Types and categories of cooperatives
FISHERMEN COOPERATIVE
• is one organized by marginalized
fishermen in localities whose
products are marketed either as
fresh or processed products.
Types and categories of cooperatives
HOUSING COOPERATIVE
• is one organized to assist or
provide access to housing for the
benefit of its regular members
who actively participate in the
savings program for housing.
Types and categories of cooperatives
INSURANCE COOPERATIVE
• is one engaged in the business of
insuring life and poverty of
cooperatives and their members.
Types and categories of cooperatives
TRANSPORT COOPERATIVE
• is one which includes land and
sea transportation, limited to
small vessels.
Types and categories of cooperatives
WORKERS COOPERATIVE
• is one organized by workers,
including the self-employed, who
are at same time the members
and owners of the enterprise.
Merger and consolidation of cooperatives
•Two (2) or more cooperatives
may merge into a single
cooperative;
• No merger or consolidation shall
be valid unless approved by a
three-fourths (3/4) vote of all the
members with voting rights;
Merger and consolidation of cooperatives
• The CDA shall issue the guidelines
governing the procedure of
merger or consolidation of
cooperatives;
• The merger or consolidation shall
be effective upon the issuance of
the certificate of merger or
consolidation by the CDA.
Dissolution of cooperatives
•Voluntary
a. No creditors are affected
b. Creditors are affected
• Involuntary
Dissolution of cooperatives
VOLUNTARY (a)
• May be affected by a majority
vote of the board of directors,
and by a resolution duly adopted
by the affirmative vote of at least
three-fourths (3/4) of all the
members with voting rights;
Dissolution of cooperatives
VOLUNTARY (a)
• Notice of time, place and object of
the meeting shall be published for
three (3) consecutive weeks in a
newspaper published in the place
where the principal office of said
cooperative is located, or if no
newspaper is published in such
place, in a newspaper of general
circulation in the Philippines;
Dissolution of cooperatives
VOLUNTARY (a)
• Notice of such meeting is sent to
each member of record either by
registered mail or by personal
delivery at least thirty (30) days
prior to said meeting;
Dissolution of cooperatives
VOLUNTARY (a)
• A copy of the resolution
authorizing the dissolution shall be
certified to by a majority of the
board of directors and
countersigned by the board
secretary.
Dissolution of cooperatives
VOLUNTARY (b)
• The petition for dissolution shall be
filed with the CDA;
• The petition shall be signed by a
majority of its board or directors or
other officers managing its affairs,
verified by its chairperson or board
secretary or one of its directors;
Dissolution of cooperatives
VOLUNTARY (b)
• The petition shall set forth all
claims and demands against it
and that its dissolution was
resolved upon by the affirmative
vote of at least three-fourths (3/4)
of all the members with voting
rights.
Dissolution of cooperatives
INVOLUNTARY
• A cooperative may be dissolved
by order of a competent court
after due hearing on the grounds
of:
Dissolution of cooperatives
• Unauthorized disclosure by an
official or employee of a banking
institution.
Unclaimed balances (PD 679)
• Shall include credits or deposits of
money, bullion, security or other
evidence of indebtedness of any kind,
and interest thereon with banks, buildings
and loan associations, and trust
corporations, as hereinafter defined, in
favor of any person known to be dead or
who has not made further deposits or
withdrawals during the preceding ten
years or more.
Unclaimed balances (PD 679)
• Such unclaimed balances,
together with the increase and
proceeds thereof, shall be
deposited with the Treasurer of the
Philippines to the credit of the
Government of the Republic of the
Philippines to be used as the
Congress may direct.
GENERAL BANKING LAW
Different kinds of loans
EMERGENCY LOAN
• is a credit facility that is intended
to assist a bank experiencing
serious liquidity problems arising
from causes not attributable to,
or beyond the control of, the
bank management.
Different kinds of loans
MICROFINANCE LOAN
• This represents small loans granted to the
basic sectors such as farmer-peasant,
artisanal fisherfolk, workers in the formal
and informal sector, migrant workers,
indigenous peoples and cultural
communities, women, differentlyabled
persons, senior citizens, victims of
calamities and disasters, youth and
students, children, and urban poor.
Different kinds of loans
CONSUMER LOAN
• is defined to include housing loans,
loans for purchase of car, household
appliance(s), furniture and fixtures,
loans for payment of educational and
hospital bills, salary loans and loans for
personal consumption, including
credit card loans.
ANTI-MONEY LAUNDERING LAW
Covered transactions
A transaction, regardless of
amount, where any of the
following circumstance exists:
• there is no underlying legal or
trade obligation, purpose or
economic justification;
Suspicious transactions
•Should a transaction be
determined to be both a
covered transaction and a
suspicious transaction, the
covered institution shall be
required to report the same as a
suspicious transaction.
THE NEW CENTRAL BANK ACT
Legal tender power over coins and notes
• Designation of a conservator is
not a precondition to the
designation of a receiver.
INTELLECTUAL PROPERTY LAW
Law on Patent