FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 30, 2004 No. 215-FZ

About housing accumulative cooperatives

Accepted by the State Duma on December 22, 2004

Approved by the Federation Council on December 24, 2004

Chapter 1. General provisions

Article 1. The relations regulated by this Federal Law

1. This Federal Law determines legal, economic and organizational basis of activities of housing accumulative cooperatives for attraction and use of money of citizens - the members on acquisition or construction of premises in the territory of the Russian Federation for the purpose of their transfer to use and after introduction of shares in complete size in property to members of housing accumulative cooperatives, and also establishes guarantees of protection of the rights and legitimate interests of citizens - members of housing accumulative cooperatives.

2. This Federal Law establishes legal status of housing accumulative cooperatives, the rights and obligations of their members, procedure for creation, reorganization and liquidation of housing accumulative cooperatives, and also procedure them activities for attraction and use of money of citizens on acquisition of premises.

3. Participation of citizens in forming of property of legal entities, including in forming of their authorized (share) capital or share funds by introduction of money or other property which involves acceptance on itself these legal entities of the obligations providing acquisition by citizens of the property right to premises is possible in cases if such participation is provided by the Federal Laws.

Article 2. The basic concepts used in this Federal Law

For the purposes of this Federal Law the following basic concepts are used:

1) housing accumulative cooperative (further also - cooperative) the consumer cooperative created as voluntary consolidation of citizens on the basis of membership for the purpose of requirements satisfaction of members of cooperative in premises by merging of cooperative of shares by members;

2) activities of cooperative for attraction and use of money of citizens on acquisition of premises (further also - activities of cooperative) - attraction and use of money of citizens by cooperative - members of cooperative and other funds for acquisition or construction of premises raised by cooperative (including in apartment houses) for the purpose of their transfer to use and after introduction of shares in complete size in property to members of cooperative;

3) premises - the apartment or the apartment house meeting the requirements established by the housing legislation of the Russian Federation;

4) share - money which is brought by the member of cooperative according to the procedure and in the terms provided by form of participation of the member of cooperative in activities of cooperative for attraction and use of money of citizens on acquisition of premises and which size is determined according to provisions of this Federal Law. Share the income gained by cooperative from the business activity performed by it and distributed between members of cooperative can be included it is pro rata to their shares;

5) the admission membership fee - the money which is one-timely brought by the citizen for covering of expenses for education of cooperative and acceptance of the citizen in members of cooperative;

6) the membership fee - the money which is periodically brought by the member of cooperative on covering of the expenses connected with implementation by cooperative of the activities provided by its charter, except for activities of cooperative for attraction and use of money of citizens on acquisition of premises;

7) additional contribution - the money deposited by the member of cooperative for covering of losses of cooperative;

8) payenakopleniye - the part of share brought by the member of cooperative for certain date;

9) share - share of payenakopleniye of the member of cooperative in share fund of cooperative;

10) share fund of cooperative - the amount of payenakopleniye of members of cooperative;

11) actual value of share - the part of net assets value of cooperative pro rata to the share size;

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