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Mr. Robert L. Gottier

SEC Opinion • Securities and Exchange Commission • Opinions • Jul 8, 1992

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July 8, 1992 Mr. Robert L. Gottier Filam Aqua-Agri Systems Development Foundation Suite 303 Campos Rueda Building 101 Urban Avenue, Makati 1200 Manila, Philippines S i r : This refers to your letter requesting information whether or not a "cooperative",for purposes of public land acquisition, is treated as a "corporation". cdll A "corporation" is generally defined as "one of the forms of association having the rights and relations, and the characteristic attribute of a legal entity distinct from that of the persons who compose it or act for it in exercising its functions. (1 Fletcher Sec. 1). The Corporation Code of the Philippines defines a corporation as an "artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence". (Sec. 2) Republic Act No. 6938, otherwise known as the Cooperative Code of the Philippines provides: "ARTICLE 16. Registration . A cooperative formed or organized under this Code acquires juridical personality from the date the Cooperative Development Authority issues a certificate of registration under its official seal." ...(Emphasis supplied) It is explicit from the above provision that upon registration with the Cooperative Development Authority, a cooperative becomes a "juridical person" . As a juridical person, it has a separate and distinct personality from that of the members. Accordingly, a cooperative falls under the above definitions of what constitutes a corporation. However, since under Republic Act Nos. 6938 and 6939 the registration and regulation of cooperatives are now vested with the Cooperative Development Authority, we suggest that you ask confirmation from said Agency. As to whether or not they are qualified to purchase public land, it is suggested that you refer the matter to the Land Registration Authority considering that registration of ownership of lands pertains to the jurisdiction of that Office. Please be advised accordingly. llcd Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman

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