BOARD OF DIRECTORS

The Board of Directors shall have the following functions and responsibilities:

a. Provide general policy direction;

b. Formulate the strategic development plan;

c. Determine and prescribe the organizational and operational structure;

d. Review the Annual Plan and Budget and recommend for the approval of the General/ Representative Assembly;

e. Establish policies and procedures for the effective operation and ensure proper implementation of such;

f. Evaluate the capability and qualification and recommended to the General/Representative Assembly the engagement of the services of an External Auditor;

g. Appoint the members of the Mediation/Conciliation and Ethics Committees and other Officers as specified in the Code and cooperative By-laws;

h. Decide election related cases involving the Election Committee or its members;

i. Act on the recommendation of the Ethics Committee on cases involving violations of Code of Governance and Ethical Standards; and

j. Perform such other functions as may be prescribed in the By-laws or authorized by the General/Representative Assembly.