In electric power: a duly-registered association of Persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with the universally-accepted cooperative principles as defined under Article 4, Chapter 1 of Republic Act No. 6938, otherwise known as the “Cooperative Code of the Philippines[”] [Section 4 (bbbb), Rules and Regulations to Implement Republic Act No. 9136, Entitled “Electric Power Industry Reform Act of 2001”]
In electrification: an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required and accepting a fair share of the risk and benefits of the undertakings in accordance with the universally accepted cooperative principles as defined under Republic Act No. 9520 [Rule 1, Section 4(p), DOE Department Circular No. DC2013-07-0015, Prescribing the Implementing Rules and Regulations of Republic Act NO. 10531, Otherwise Known as the “National Electrification Administration Reform Act of 2013”]