of October 4, 2012 No. ZR-184
About modification and amendments in the Law of the Republic of Armenia "About consumer cooperation"
Accepted by National Assembly of the Republic of Armenia on September 11, 2012
Article 1. In the preface of the Law of the Republic of Armenia of ZR-91 "About consumer cooperation" of December 30, 1993 (further – the Law) words "creations of the companies and their associations and" shall be replaced with words "forming (creation) of cooperation".
Article 2. 1, of 2, of 3, 4 and 5 to state Articles in the following edition:
"Article 1. Consumer cooperative
1. The consumer cooperative in the Republic of Armenia is the legal entity who is not pursuing the profit earning aims, created on voluntary basis for satisfaction of needs with goods and services at least 5 members (participants), representations and protection of their interests.
2. Activities of consumer cooperative are regulated by the Civil code of the Republic of Armenia, this Law and other legal acts.
3. The consumer cooperative, proceeding from the purposes, can perform any activities which are not prohibited by the legislation of the Republic of Armenia.
Article 2. Members of consumer cooperative
1. The citizens and (or) individual entrepreneurs and citizens who are engaged in agricultural production, signed cooperation agreement can be members (members) of consumer cooperative.
Article 3. Merging of consumer cooperatives
1. Merging of consumer cooperatives (further – consolidation) is consumer cooperation, created with property and (or) other participation of legal entities. Consolidation is legal entity whose activities are regulated by the provisions of the Civil code established for associations of legal entities with the features provided by this Law.
2. The participant of consolidation has the right to leave structure of consolidation according to the procedure, established by the charter of consolidation, having received the share of the property belonging to consolidation in monetary or other material value.
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