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TERMINATION OF MEMBERSHIP





i. Automatic Termination. The death or insanity, permanent incapacity or judicial declaration by a competent court;


ii. Voluntary Termination. A member for a reason, may withdraw his membership within a 60-days’ notice to the Board of Directors. No members shall be allowed to withdraw or terminate his membership if he has pending obligation to the Cooperative; and


iii. Involuntary Termination. When he has not patronized the coop’s products & services for more than six (6) months; and when he has violated any provisions of cooperative’s bylaws.



REFUND OF CONTRIBUTIONS





A member whose membership is terminated shall be entitled to a refund of his share capital contribution and all other interest less the aggregate amount of his debts and liabilities to the cooperative.



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