Mr. Marcelo Escobido
SEC Opinion • Securities and Exchange Commission • Opinions • Aug 23, 1989
Full text
August 23, 1989 Mr. Marcelo Escobido San Isidro, 6309 Duero, Bohol Sir : This refers to your letter, dated June 14, 1989, inquiring on the pre-incorporation requirements of a cooperative, particularly the "San Isidro Farmers Cooperative". In connection therewith, please be advised that under Presidential Decree No. 175, as amended, the registration, regulation and supervision of "cooperatives" are now vested with the Bureau of Cooperatives Development under the Department of Agriculture (formerly under the Department of Local Government and Community Development). As such, this Commission has no jurisdiction over the same. We therefore suggest that you communicate directly with the said government agency. Very truly yours, (SGD.) FE ELOISA C. GLORIA Director Corporate and Legal Department
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