LAW OF UKRAINE

of July 10, 2003 No. 1087-IV

About cooperation

This Law determines legal, organizational, economic and social basis of functioning of cooperation in Ukraine.

Section I General provisions

Article 1. Cooperation

Cooperation - system of the cooperative organizations created for the purpose of satisfaction of economic, social and other needs of the members.

Article 2. Determination of terms

In this Law terms are used in the following value:

cooperative organization - cooperative or cooperative consolidation;

cooperative - the legal entity formed by physical persons and/or legal entities which voluntarily united on the basis of membership for conducting joint economic and other activity for the purpose of satisfaction of the economic, social and other requirements on the basis of self-government;

production cooperative - cooperative which is formed by merging of physical persons for joint productive or other economic activity on the basis of their obligatory labor participation for the purpose of profit earning;

the servicing cooperative - cooperative which is formed by merging of physical persons and/or legal entities for rendering services mainly to members of cooperative, and also other persons for the purpose of conducting their economic activity. The servicing cooperatives render services to other persons in the amounts which are not exceeding 20 percent of total turnover of cooperative;

consumer cooperative (consumer society) cooperative which is formed by merging of physical persons and/or legal entities for the organization of trade servicing, procurements of agricultural products, raw materials, production and rendering other services for the purpose of satisfaction of consumer needs of his members;

share - property returnable fee of the member (associated member) of cooperative in creation and development of cooperative which is performed by transfer to cooperative of property, including money, property rights, and also the parcel of land;

additional share - voluntary money or other property returnable contribution of the member (associated member) of cooperative over share in share fund of cooperative;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info