I hereby apply for membership in SEAMCO MULTIPURPOSE COOPERATIVE (SEAMCO) and agree to faithfully obey its rules and regulation as set down in its by-laws
and amendments thereof and the decision of the general membership as well as those of the directors.
I hereby pledge to subscribe TWO HUNDRED FIFTY (250) SHARES with a total value of TWENTY-FIVE THOUSAND
PESOS (25,000.00). I also pledge to pay at least twenty-five percent (25%) of my subscription and TWO
THOUSAND PESOS (2,000.00) membership fee upon this application.
I agree that the minimum monthly contribution to the share capital is FIVE HUNDRED PESOS
(500.00) and I will continue to pay this amount until I have paid TWENTY-FIVE THOUSAND PESOS
(25,000.00). Payments made by me in excess of my share capital of P25, 000.00 will be considered as my
savings deposits.
It is understood that I cannot withdraw my share capital during my membership. In case of withdrawal of
membership the amount of P2000.00 shall be retained from my share capital and will be credited to
withdrawal income of SEAMCO should I fail to revive my membership within 12 months by putting up a fresh
share capital.
It is finally understood that withdrawal of membership is subject for the approval of the Board of Directors prior release of my share capital.