Republic of the Philippines

“ To establish, keep, maintain, and operate or help establish, keep, maintain, and operate drying plants, or copra driers, or coconut centrals with a view to adjusting the coconut industry to a position independent of trade preferences in the United States and to provide facilities for the better curing of copra products and the proper utilization of coconut by-products ”

“ To buy, sell, barter, export, and in any other manner deal in, coconut, copra, and desiccated coconut, as well as their by-products, and to act as agent, broker or commission merchant of the producers, dealers or merchants of coconut, copra, and desiccated coconut or their by-products. ”

“ The management of the National Coconut Corporation shall be vested in a board of directors consisting seven members appointed by the President of the Philippines, with the consent of the Commission on Appointments of the Congress of the Philippines. The President of the Philippines shall appoint the chairman of the board from among its members. ”