of December 30, 1993 No. ZR-91
About consumer cooperation
Accepted by National Assembly of the Republic of Armenia on December 30, 1993
This Law determines organization-legal bases of consumer cooperation, procedure and conditions of forming (creation) of cooperation, and also the principles of their relations with state bodies.
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 forbidden by the legislation of the Republic of Armenia.
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.
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.
3. The supreme body of management of consolidation is general meeting of representatives of participants which determines the size of contributions of members of consolidation (if participation in consolidation is caused by contribution), elects the head and monitoring bodies of consolidation, listens to their reports, establishes expenses on their content, determines questions of the basis, reorganization, liquidation of subsidiary companies, and also, within allocated for it by this Law and the charter of combination of competences, resolves other issues.
4. Participants of consolidation on general meeting, regardless of the contribution size, propose candidates in equal quantity.
5. The decision of general meeting of representatives is deemed accepted if for it more than 50 percent of all participants who are part of consolidation voted.
6. Activities of consolidation stop the decision of general meeting of representatives secret vote if for it at least than two thirds of total number of all participants who are part of consolidation voted.
7. Executive body of consolidation is management, and monitoring body - committee on audit. Activities of management and committee on audit are regulated by the charter of consolidation.
8. In case of the consolidation activities termination, the procedure for distribution or further use of the property which remained after tax payment, performing other obligatory payments for accomplishment of obligations to creditors is determined by the charter of consolidation.
1. The Republic of Armenia recognizes the rights of consumer cooperatives and their associations and protects their legitimate interests. The state promotes development and strengthening of economic independence.
2. The consumer cooperative in the activities is independent of state bodies and local government bodies, public, political and other organizations.
3. Intervention of state bodies and local government bodies in activities of the consumer cooperatives, except as specified, established by the legislation of the Republic of Armenia is forbidden.
4. The material damage caused to consumer cooperative as a result of illegal intervention of state bodies and local government bodies is subject to compensation, in the procedure established by the legislation of the Republic of Armenia.
5. State bodies and local government bodies do not bear responsibility for obligations of consumer cooperatives, and the last do not bear responsibility for obligations of data of bodies.
1. The consumer cooperative is considered created and can be effective as the legal entity in the procedure established by the legislation of the Republic of Armenia, from the date of state registration.
Voided according to the Law of the Republic of Armenia of 04.10.2012 No. ZR-184
Voided according to the Law of the Republic of Armenia of 04.10.2012 No. ZR-184
Voided according to the Law of the Republic of Armenia of 04.10.2012 No. ZR-184
Voided according to the Law of the Republic of Armenia of 04.10.2012 No. ZR-184
Voided according to the Law of the Republic of Armenia of 04.10.2012 No. ZR-184
President of the Republic of Armenia
L. Ter Petrosyan
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