The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
ON TAXABILITY OF COOPERATIVES
Cooperatives which do not transact any business with non-members are not taxable
Cooperatives transacting business with members are not taxable
It cannot be done without the employee’s consent
REJECTION AND REVOCATION OF REGISTRATION OF SECURITIES
The Securities and Exchange Commission (SEC) may refuse the registration of securities
The registration of securities may be revoked by the SEC
The rejection or revocation of registration statement is always after due notice and hearing
MAY YOU COMPEL AN EMPLOYEE TO ACCEPT PROMOTION?
Promotion is the advancement from one position to another
It entails increase in duties and responsibilities and usually accompanied by an increase in salary
It cannot be done without the employee’s consent
WHAT IS A COOPERATIVE?
A cooperative is an association of persons with common bond of interest
A cooperative is based on volunteerism
Cooperatives enjoy privileges under the law