of November 8, 2024 No. ZRU-995
About agricultural cooperative
Accepted by Legislative house on September 17, 2024
Approved by the Senate on September 30, 2024
The purpose of this Law is regulation of the relations in the field of creation, activities, reorganization and liquidation of agricultural cooperative.
The legislation on agricultural cooperative consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about agricultural cooperative then are applied rules of the international treaty.
In this Law the following basic concepts are applied:
the authorized or elected representative - the member of agricultural cooperative having the right to act on general meeting of members of agricultural cooperative on behalf of the group consisting more than of two hundred members of agricultural cooperative;
the dividend - the part of annual net profit of agricultural cooperative remaining at its order after tax payment and charges, which is subject to distribution between members of agricultural cooperative it is pro rata to the brought compulsory and additional shares;
reserve fund - the fund created by annual net profit and other sources in the amount of at least fifteen percent from share fund of agricultural cooperative;
the member of cooperative putting investments - the physical person or legal entity accepted in agricultural cooperative as the member of the cooperative investing means based on requirements, the stipulated in Clause 14 these Laws according to the charter of agricultural cooperative. Such member of cooperative directly does not participate in rendering services by agricultural cooperative, and requirements to its shares, the right to dividends, subsidiary obligations and voting power are determined in the charter of cooperative;
the authorized representative - the member of agricultural cooperative performing the rights of other member on general meeting of members of cooperative, appointed in writing other member of cooperative and to which more than two members of cooperative are forbidden to be representative;
obligatory share - the share of the member of agricultural cooperative brought without fail and granting voting power and the participation right in activities of agricultural cooperative on use of its services and privileges provided by the charter of agricultural cooperative and for receipt of dividends;
share - the part of property of agricultural cooperative having the determined nominal value reflecting the amount of participation of the member of agricultural cooperative in forming of property of the agricultural cooperative which is expressed in money or other property or property rights, and considered in value term when forming share fund of agricultural cooperative;
share fund - the total amount of shares of members of agricultural cooperative in terms of money created on the basis of shares;
agricultural cooperative - the independent commercial organization founded on the share beginnings, voluntary consolidation of physical and (or) legal entities for implementation of agricultural activities;
the member of agricultural cooperative - the physical person or legal entity which brought share, accepted in agricultural cooperative with voting power and bearing subsidiary responsibility according to obligations of agricultural cooperative;
additional share - the share of the member of agricultural cooperative brought on voluntary basis in addition to obligatory share and granting to it the right to dividends;
joint agricultural cooperative - the agricultural cooperative created by at least than three agricultural cooperatives for conducting joint centralized activities.
Activities of agricultural cooperative (further - cooperative) are based on the following principles:
voluntariness of the accession to cooperative and exit from it, possibility of the accession to cooperative for any persons conforming to requirements of this Law;
self-government and independence in activities of cooperative;
control of members of cooperative of its work according to the procedure, provided by the charter of cooperative;
economic participation of members of cooperative in its activities;
pro rata income distribution (profits) between members of cooperative according to their shares;
development of cooperation between cooperatives;
social development of cooperative.
Core activity of cooperative is rendering services in the field of agricultural industry.
Along with rendering services in the field of agricultural industry the cooperative has the right to grow up, store, overwork and to sell agricultural products, and also to be engaged in other types of activity which are not prohibited by the law.
The cooperative shall have full trade name with indication of on its form of business and the reduced trade name.
The full trade name of cooperative shall contain its full name and words "Agricultural cooperative". The reduced trade name of cooperative shall contain its abbreviated name and words "Agricultural cooperative" or abbreviation of "SHK".
The location of cooperative is determined by the place of its state registration. In constituent documents of cooperative the permanent location of its governing bodies or the place of implementation of the main activities by it can be determined as the cooperative location.
The cooperative for maintenance of communication with it shall have the postal address and the e-mail address.
The cooperative shall notify members of cooperative on change of the location (postal address) and change of the e-mail address. Change of the location (postal address) of cooperative is performed in notifying procedure with observance of requirements, stipulated by the legislation, by the notification of the center of the state services.
The cooperative can be created as a part of at least seven physical and (or) legal entities.
The joint cooperative can be created as a part of at least three cooperatives.
All provisions concerning cooperative, provided by this Law are applied also to joint cooperative, except for the provisions concerning the minimum number of members of cooperative.
The physical and (or) legal entities who showed willingness to create cooperative form constituent committee.
The following belongs to tasks of constituent committee:
preparation of the draft of the charter of cooperative;
preparation and carrying out the constituent assembly of founders of the created cooperative.
Constituent assembly of founders of cooperative:
makes the decision on creation of cooperative;
approves the charter of cooperative;
makes the decision on admission to membership of cooperative of the participants of the constituent assembly who signed the document which approves the charter of cooperative with indication of their names, surnames and addresses, and on legal entities - with indication of the document confirming powers of their representatives;
elects governing bodies of cooperative, including board of cooperative, the chairman of the board of cooperative and members of the supervisory board of cooperative.
The cooperative is subject to state registration as the legal entity.
State registration of cooperative is performed in the procedure established by the legislation by the center of the state services based on the application submitted by board of cooperative. The approved charter of cooperative, documents on election of board of cooperative, the chairman of the board of cooperative and the supervisory board of cooperative, and also the protocol of the constituent assembly of founders of cooperative are enclosed to this application.
The cooperative is considered created and acquires the rights of the legal entity from the date of its state registration in the center of the state services according to the procedure established by the legislation.
State registration of cooperative it can be refused only if during creation of cooperative the procedure provided by this Law and other acts of the legislation or in case of discrepancy of constituent documents to the law was broken.
The charter of cooperative is the constituent document of cooperative.
The charter of cooperative shall be provided in writing and approved at the constituent assembly of founders of cooperative.
In the charter of cooperative the following shall be specified:
trade name and location (postal address) of cooperative;
the term of activities of cooperative or specifying on termless nature of activities of cooperative;
purpose, specialization and at least one activity of cooperative;
procedure and conditions of the introduction in members of cooperative;
the bases and procedure for the termination of membership in cooperative, including procedure for exit from cooperative or exception of cooperative;
conditions and procedure for attraction to economic activity of cooperative of persons which are not his members;
regulations on obligations of members of cooperative to use services of cooperative or about lack of such obligations;
the size of obligatory share of the member of cooperative, its equivalence for all members of cooperative;
extent of use of members of cooperative of services of cooperative or their use on the basis of the economic factors concerning the member of cooperative;
conditions of introduction of additional share and its maximum size;
the procedure for introduction of shares by members of cooperative, including term of introduction is at least ten percent of shares;
evaluation procedure of property value, the cooperative brought by members on account of share;
conditions of forming of reserve fund, including determination of share of the annual net profit or other sources sent to reserve fund, and determination of the size of reserve fund;
sizes and procedure for forming indivisible and other funds of cooperative and procedure for their use;
procedure for calculation and profit distribution and losses of cooperative;
conditions of subsidiary responsibility of members of cooperative for obligations of cooperative, unrestrictedness or limitation of this responsibility certain sizes;
structure, powers and obligations of governing bodies of cooperative, procedure for adoption of decisions by them, including procedure for decision making on the questions requiring unanimity or majority of votes;
rights and obligations of members of cooperative;
features, procedure and conditions of participation of members of cooperative in activities of cooperative;
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