Quoted hereunder is Resolution No. 45, s. 1993 dated March 23, 1993, to wit:

"RESOLUTION NO. 45, s. 1993

RESOLVED as it is hereby RESOLVED that all the area cooperative directors be AUTHORIZED as they are hereby authorized to suspend or revoke after due notice and hearing, the certificates of registration of cooperatives registered in their respective areas of operation, on any of the following grounds:

1. Having obtained their registration by fraud;

2. Existing for illegal purpose/s;

3. Willful violation, despite notice by the Authority, of the provisions of the Cooperative Code of the Philippines or the cooperatives' by-laws;

4.      Willful failure to operate on cooperative basis;

5.      Failure to meet the required minimum number of members in the cooperative; and

6.      Failure to commence business and operation within two (2) years after the date shown on their certificates of registration or failure to carry on business for two (2) consecutive years.

APPROVED."

For your reference and strict compliance.

Adopted: 24 Mar. 1993

(Sgd.) EDNA E. ABERILLA
Chairman