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LAW OF THE REPUBLIC OF KAZAKHSTAN

of October 29, 2015 No. 372-V ZRK

About agricultural cooperatives

(as amended of the Law of the Republic of Kazakhstan of 28.10.2019 No. 268-VI ZRK)

Chapter 1. General provisions

Article 1. The relations regulated by this Law

This Law determines legal status, the rights and obligations of members of agricultural cooperatives, and also legal status, procedure for creation, activities, reorganization and liquidation of agricultural cooperatives and their associations (unions).

Article 2. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) association (union) of agricultural cooperatives - the voluntary consolidation of agricultural cooperatives created for ensuring coordination of activities of the members and protection of their common valuable and other interests;

2) the associated member of agricultural cooperative (further - the associated member of cooperative) - the physical person or legal entity which brought the property (share) fee provided by the charter of agricultural cooperative for such member in the form of money on which receives dividends, bearing risk of the losses connected with activities of the agricultural cooperative, within cost contributed by it property (share) the having right of advisory vote in agricultural cooperative and also given other rights and obligations taking into account the restrictions established by this Law and the charter of agricultural cooperative;

3) founders of agricultural cooperative (further - founders of cooperative) - the physical and (or) legal entities making the decision on creation of agricultural cooperative at the constituent assembly;

4) the member of agricultural cooperative (further - the member of cooperative) - the physical and (or) legal entity who is conforming to requirements of this Law and the charter of agricultural cooperative, brought property (share) and introductory fees or acquired share according to the procedure, established by the legislation of the Republic of Kazakhstan, and also having other rights and obligations established by this Law and the charter of agricultural cooperative;

5) share fund of agricultural cooperative (further - share fund) - the fund consisting of the property (share) fees brought by founders of cooperative during its creation, members of cooperative, and also associated members of cooperative, and being one of sources of forming of property of agricultural cooperative the procedure for forming and which use is determined by the charter of agricultural cooperative;

6) reserve fund of agricultural cooperative (further - reserve fund) - the fund intended for covering of the losses arising in the course of activities of agricultural cooperative, including caused as a result of contingencies and providing other expenses the procedure for forming and which use is determined by the charter of agricultural cooperative;

7) agricultural cooperation - system of agricultural cooperatives and their associations (unions);

8) the admission fee - the initial contribution in the form of money which size is determined by founders of cooperative and cannot exceed the fivefold size of monthly settlement indicator established for the corresponding financial year by the law on the republican budget intended for covering of the expenses connected with organizational matters during creation of agricultural cooperative by founders of cooperative or in case of the introduction of members of cooperative in it, and which is not subject to return in case of exit of the member of cooperative from it;

9) additional contribution - the property fee of the member of cooperative brought by it in voluntary procedure for increase in the share or in the cases provided by the decision of general meeting of members of cooperative;

10) property (share) fee - fee of the founder and member of cooperative in share fund in the form of property (money, securities and other financial instruments, things, objektivirovanny results of creative intellectual activities, trade names, trademarks and other means of individualization of products, the property and corporeal rights and other property), and also fee of the associated member of cooperative in share fund in the form of money;

11) share - share of the member of cooperative in share fund.

Article 3. Legislation of the Republic of Kazakhstan on agricultural cooperatives

1. The legislation of the Republic of Kazakhstan on agricultural cooperatives is based on the Constitution of the Republic of Kazakhstan and consists of the Civil code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Article 4. Main objectives and principles of creation and activities of agricultural cooperatives

1. Main objectives of creation and activities of agricultural cooperatives are:

1) satisfaction of social and economic and other needs of members of cooperative and protection of their interests;

2) increase in the income of members of cooperative;

3) creation of competitive environment in spheres of production, conversion, sale, storage of agricultural products, products of aquaculture (fish breeding), supply with means of production and material resources;

4) development of infrastructure and providing direct deliveries of agricultural products, products of aquaculture (fish breeding) from the producer to the consumer;

5) assistance to acquisition on profitable terms members of cooperative of necessary resources and receipt of access to financing of their productive and other economic activity.

2. The basic principles of creation and activities of agricultural cooperatives are:

1) voluntariness of the accession to agricultural cooperative and exit from it, possibility of the introduction for any persons conforming to requirements of this Law and the charter of agricultural cooperative;

2) the democratic character of management based on equality of members of cooperative: one member - one voice irrespective of the size and quantity of property (share) fees, except for associated members of cooperative;

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