of May 21, 2011 No. 198-IV
About the Union of Industrialists and Entrepreneurs of Turkmenistan
New edition
This Law determines legal, organizational, economic bases of activities of the Union of Industrialists and Entrepreneurs of Turkmenistan and is directed to increase in its role in development of entrepreneurship in Turkmenistan.
The legislation of Turkmenistan on the Union of Industrialists and Entrepreneurs of Turkmenistan is based on the Constitution of Turkmenistan, the Law of Turkmenistan "About public associations" and consists of this Law and other regulatory legal acts of Turkmenistan.
1. The Union of Industrialists and Entrepreneurs of Turkmenistan (further - the Union) is public organization, combining physical persons and legal entities performing business activity on the basis of the private and (or) mixed (integrated) pattern of ownership (further - members of the Union) designed to express and protect the rights and legitimate interests of the members, to promote development of entrepreneurship in Turkmenistan.
The union can perform the activities in the territory of Turkmenistan, and also in the territory of other states where according to the legislation of Turkmenistan the structural unit of the Union - the organization, department (branch), representation is created.
2. The union is non-commercial legal entity.
3. The union has the isolated property belonging to it on the property right, answers for the obligations this property, can acquire on its own behalf the property and personal non-property rights and perform duties, to be claimant and the defendant in court.
The union does not answer for obligations the members and members of the Union do not answer for obligations the Union, except cases when they assumed such obligations according to the legislation of Turkmenistan.
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