LAW OF THE AZERBAIJAN REPUBLIC

of June 14, 2016 No. 270-VQ

About agricultural cooperation

According to Item 1 of part 1 of article 94 of the Constitution of the Azerbaijan Republic, this law determines legal and economic bases of forming and development of agricultural cooperation, creation and activities of agricultural cooperatives.

Chapter 1. General provisions

Article 1. Basic concepts

1.1. The basic concepts used in this Law express the following values:

1.1.1. agricultural cooperation - the joint voluntary activities performed by producers of agricultural products by means of agricultural cooperatives and their unions for the purpose of satisfaction of the material and social requirements;

1.1.2. agricultural cooperative (further - cooperative) - the legal entity, being the voluntary merging of producers of agricultural products based on membership for joint activities, created for the purpose of satisfaction of material and social needs of participants by consolidation of shares of property of his members;

1.1.3. agricultural production cooperative (further - production cooperative) - the legal entity created by merging of producers of agricultural products, the being legal entities for accomplishment of the joint productive and other economic activity based on participation by personal labor for the purpose of profit earning;

1.1.4. agricultural consumer cooperative (further - consumer cooperative) - the legal entity created by merging of producers of agricultural products, the being physical and (or) legal entities for the organization of the services directed to reduction of expenses and (or) increase in profit of the members during activities in the field of agricultural industry and protection of their economic interests;

1.1.5. Agricultural production consumer cooperative (further - production consumer cooperative) - the legal entity created for carrying out the joint economic activity connected with production, collection, processing and realization of agricultural products, providing members with means of production and material resources, provisions of services by it for the purpose of satisfaction of economic, social and other requirements;

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