SHARE CAPITAL SUBSCRIPTION AGREEMENT TERMS & CONDITIONS
SHARE CAPITALSUBSCRIPTION AGREEMENT TERMS & CONDITIONS
PRIVACY POLICY
Terms & Conditions:
1. Qualified Members:
1.1. A new Regular member/co-owner must subscribed a minimum of Fourteen Thousand Pesos (₱14,000.00) on his/her common share capital payable
within the prescribed 24-month term, which can be paid in full upon membership or on a monthly installment.
1.2. Regular members/co-owners with paid-up common share capital of ₱14,000.00 and above must continuously subscribe additional common shares. A minimum of ₱14,000.00 or more may be subscribed. Provided that, the divisor is equivalent to ₱14,000.00. Term of subscription may vary according to the capacity of the member.
2. Incentive Reward for Additional Subscription
2.1. Subscription under Installment Deposit/Payment
2.1.1. A regular member subscribing additional common shares shall be entitled to receive a 5% incentive reward based on his/her paid-up share subscription for the year. The release of incentive reward to the subscribing members shall be after the conduct of Annual General Assembly Meeting, which is to be credited to member’s registered MIGS ATM card or savings account with BCC.
2.2. Subscription under Spot Cash Deposit/Payment
2.1.2. A regular member subscribing additional common shares under spot cash basis shall be entitled to receive 10% incentive reward. The said reward shall be credited to member’s registered MIGS ATM card or savings account with BCC upon full payment/deposit.
3. Paid common share capital subscriptions shall be entitled to the provisions of BCC in the computation of dividends every end of the year.
4. No member shall transfer their balances from common share capital to preferred share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
5. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must secure and present the duplicate copy of bank validated slip to BCC as proof of deposit.
6. A penalty fee of 2% per month shall be charged on the amount of share capital subscription in default.
Terms & Conditions:
1. Qualified Members:
1.1. Associate Members
1.1.1. Associate member must subscribe fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00).
1.1.2. Subscription on preferred share capital can be paid on a monthly or lump sum basis within 24 months upon approval of his/her membership.
1.1.3. No associate member shall own or hold more than 10% of the total subscribed share capital of the Cooperative.
1.2. Regular Members
1.2.1. Regular members may subscribe preferred share capital subscription as optional and additional investment.
1.2.2. A regular member may subscribe a minimum of fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00),
which must be paid upon his/her intention to subscribe.
2. Incentive Reward for Additional Subscription
Preferred Share Capital is an interest-bearing capital investment with a fixed and assured interest rate of 7% per annum where a member may subscribe. The amount subscribed by a member on preferred share capital has no voting rights privileges.
3. The interest on share capital of a member with fully paid preferred share capital shall be paid based on prescribed regulations indicated in BCC By-Laws:
3.1. 75% shall be allocated cash dividend, which can be credited to member’s ATM card or savings account.
3.2. 25% shall be allocated and credited to member’s share capital account as additional paid-up preferred capital.
4. Associate and regular members may continue to subscribe on their preferred share capital account with the cooperative, provided that the total paid subscription shall not exceed Twenty-Five (25%) percent or one fourth (1/4) of the total authorized share capital of the cooperative.
5. No member shall transfer their balances from preferred share capital to common share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
6. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must notify or present the duplicate copy of bank validated slip
to BCC as a proof of deposit.
7. A penalty of 2% shall incur every month for unpaid subscription on preferred share capital of a member.
Terms & Conditions:
1. Qualified Members:
1.1. A new Regular member/co-owner must subscribed a minimum of Fourteen Thousand Pesos (₱14,000.00) on his/her common share capital payable
within the prescribed 24-month term, which can be paid in full upon membership or on a monthly installment.
1.2. Regular members/co-owners with paid-up common share capital of ₱14,000.00 and above must continuously subscribe additional common shares. A minimum of ₱14,000.00 or more may be subscribed. Provided that, the divisor is equivalent to ₱14,000.00. Term of subscription may vary according to the capacity of the member.
2. Incentive Reward for Additional Subscription
2.1. Subscription under Installment Deposit/Payment
2.1.1. A regular member subscribing additional common shares shall be entitled to receive a 5% incentive reward based on his/her paid-up share subscription for the year. The release of incentive reward to the subscribing members shall be after the conduct of Annual General Assembly Meeting, which is to be credited to member’s registered MIGS ATM card or savings account with BCC.
2.2. Subscription under Spot Cash Deposit/Payment
2.1.2. A regular member subscribing additional common shares under spot cash basis shall be entitled to receive 10% incentive reward. The said reward shall be credited to member’s registered MIGS ATM card or savings account with BCC upon full payment/deposit.
3. Paid common share capital subscriptions shall be entitled to the provisions of BCC in the computation of dividends every end of the year.
4. No member shall transfer their balances from common share capital to preferred share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
5. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must secure and present the duplicate copy of bank validated slip to BCC as proof of deposit.
6. A penalty fee of 2% per month shall be charged on the amount of share capital subscription in default.
Terms & Conditions:
1. Qualified Members:
1.1. Associate Members
1.1.1. Associate member must subscribe fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00).
1.1.2. Subscription on preferred share capital can be paid on a monthly or lump sum basis within 24 months upon approval of his/her membership.
1.1.3. No associate member shall own or hold more than 10% of the total subscribed share capital of the Cooperative.
1.2. Regular Members
1.2.1. Regular members may subscribe preferred share capital subscription as optional and additional investment.
1.2.2. A regular member may subscribe a minimum of fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00),
which must be paid upon his/her intention to subscribe.
2. Incentive Reward for Additional Subscription
Preferred Share Capital is an interest-bearing capital investment with a fixed and assured interest rate of 7% per annum where a member may subscribe. The amount subscribed by a member on preferred share capital has no voting rights privileges.
3. The interest on share capital of a member with fully paid preferred share capital shall be paid based on prescribed regulations indicated in BCC By-Laws:
3.1. 75% shall be allocated cash dividend, which can be credited to member’s ATM card or savings account.
3.2. 25% shall be allocated and credited to member’s share capital account as additional paid-up preferred capital.
4. Associate and regular members may continue to subscribe on their preferred share capital account with the cooperative, provided that the total paid subscription shall not exceed Twenty-Five (25%) percent or one fourth (1/4) of the total authorized share capital of the cooperative.
5. No member shall transfer their balances from preferred share capital to common share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
6. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must notify or present the duplicate copy of bank validated slip
to BCC as a proof of deposit.
7. A penalty of 2% shall incur every month for unpaid subscription on preferred share capital of a member.
Terms & Conditions:
1. Qualified Members:
1.1. A new Regular member/co-owner must subscribed a minimum of Fourteen Thousand Pesos (₱14,000.00) on his/her common share capital payable
within the prescribed 24-month term, which can be paid in full upon membership or on a monthly installment.
1.2. Regular members/co-owners with paid-up common share capital of ₱14,000.00 and above must continuously subscribe additional common shares. A minimum of ₱14,000.00 or more may be subscribed. Provided that, the divisor is equivalent to ₱14,000.00. Term of subscription may vary according to the capacity of the member.
2. Incentive Reward for Additional Subscription
2.1. Subscription under Installment Deposit/Payment
2.1.1. A regular member subscribing additional common shares shall be entitled to receive a 5% incentive reward based on his/her paid-up share subscription for the year. The release of incentive reward to the subscribing members shall be after the conduct of Annual General Assembly Meeting, which is to be credited to member’s registered MIGS ATM card or savings account with BCC.
2.2. Subscription under Spot Cash Deposit/Payment
2.1.2. A regular member subscribing additional common shares under spot cash basis shall be entitled to receive 10% incentive reward. The said reward shall be credited to member’s registered MIGS ATM card or savings account with BCC upon full payment/deposit.
3. Paid common share capital subscriptions shall be entitled to the provisions of BCC in the computation of dividends every end of the year.
4. No member shall transfer their balances from common share capital to preferred share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
5. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must secure and present the duplicate copy of bank validated slip to BCC as proof of deposit.
6. A penalty fee of 2% per month shall be charged on the amount of share capital subscription in default.
Terms & Conditions:
1. Qualified Members:
1.1. Associate Members
1.1.1. Associate member must subscribe fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00).
1.1.2. Subscription on preferred share capital can be paid on a monthly or lump sum basis within 24 months upon approval of his/her membership.
1.1.3. No associate member shall own or hold more than 10% of the total subscribed share capital of the Cooperative.
1.2. Regular Members
1.2.1. Regular members may subscribe preferred share capital subscription as optional and additional investment.
1.2.2. A regular member may subscribe a minimum of fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00),
which must be paid upon his/her intention to subscribe.
2. Incentive Reward for Additional Subscription
Preferred Share Capital is an interest-bearing capital investment with a fixed and assured interest rate of 7% per annum where a member may subscribe. The amount subscribed by a member on preferred share capital has no voting rights privileges.
3. The interest on share capital of a member with fully paid preferred share capital shall be paid based on prescribed regulations indicated in BCC By-Laws:
3.1. 75% shall be allocated cash dividend, which can be credited to member’s ATM card or savings account.
3.2. 25% shall be allocated and credited to member’s share capital account as additional paid-up preferred capital.
4. Associate and regular members may continue to subscribe on their preferred share capital account with the cooperative, provided that the total paid subscription shall not exceed Twenty-Five (25%) percent or one fourth (1/4) of the total authorized share capital of the cooperative.
5. No member shall transfer their balances from preferred share capital to common share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
6. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must notify or present the duplicate copy of bank validated slip
to BCC as a proof of deposit.
7. A penalty of 2% shall incur every month for unpaid subscription on preferred share capital of a member.