President Gloria Macapagal Arroyo signed into law the Philippine Cooperative Code of 2008 otherwise known as Republic Act 9520 which amends RA 6938 promulgated in 1990. The new code includes the seventh cooperative principle which is "Concern for Community" adopted by the International Cooperative Alliance in 1995. This stressed the need for cooperatives to adhere to their basic social responsibilities to their members and assist in the communities that they operate in.
Rizal Hall, Malacañan Palace
February 17, 2009
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