Board of Directors
The Board shall have the general supervision and control over the business, property, funds and other affairs of the Cooperative, and shall adopt policies that are consistent with law, and these by-laws for the management of the business and guidance of the officers, committee members and employees of the Cooperative.
Audit and Inventory Committee
The members of the Committee shall hold office for one year or until their successors shall have been elected and qualified. The Committee shall provide internal audit service, maintain a complete record of its examination and inventory, and submit audited quarterly reports to the Board and audited annual financial reports to the general assembly.
It shall examine and audit the financial statements of the cooperative, its books, vouchers, cash and accounts periodically. It shall have access at all times to the books, vouchers and other financial and legal records of the cooperative. It shall also advise the Board on the installation of an adequate and effective accounting system. The committee shall, with the assistance of the Manager, take a regular inventory of all property, stock-in trade, funds, securities, etc. of the cooperative.
It shall formulate rules and regulations to ensure fair, honest and clean elections.