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LAW OF THE REPUBLIC OF UZBEKISTAN

of June 14, 1991 No. 295-XII

About cooperation

(as amended on 23-05-2019)

This Law along with the Law of the Republic of Uzbekistan "About the companies in the Republic of Uzbekistan" and other laws of the Republic of Uzbekistan determines features of activities of cooperation.

He guarantees to legal entities and physical persons the right of the voluntary accession to cooperative and free exit from it, participations in management of cooperative, equal development of cooperatives with the companies of all patterns of ownership, independence of collective managing and independence of cooperative in decision making for accomplishment of its authorized tasks.

Article 1. Cooperation and its types

1. Cooperation in the Republic of Uzbekistan represents the voluntary associations (cooperatives) of physical persons and legal entities which organizationally are drawn up, based on shirkatny (collective) pattern of ownership for achievement of common goals in various areas of economic and social activity.

2. In the Republic of Uzbekistan the consumer, production and mixed production consumer cooperatives created for satisfaction of public needs of the population for products, works and services and also for the purpose of profit earning (income) function.

Cooperation also includes cooperatives for satisfaction of domestic and other social needs of the members (building, housing, garage and construction, country and construction, etc.).

Article 2. Legislation on cooperation

General legal, economic and social basis of creation, activities, reorganization and liquidation of all types of cooperatives and their economic associations is regulated by this Law, the Law of the Republic of Uzbekistan "About the companies in the Republic of Uzbekistan", other legal acts of the Republic of Uzbekistan, and in the Republic of Karakalpakstan - the legislation of the Republic of Karakalpakstan.

Article 3. Cooperative - primary link of cooperation

1. Cooperative is independently business entity with the rights of the legal entity who owns, uses and disposes of the property belonging to it as ownership in common. The earth and other natural resources are provided to cooperatives in use.

Activities production and production consumer cooperatives are based on personal labor participation of their members, and also persons working according to employment contracts (to contracts, the agreement).

Activities of consumer cooperatives and cooperatives for satisfaction of domestic and other social needs of the members can be not connected with their personal labor participation.

2. Cooperatives can on a voluntary basis on industry, territorial and to other signs to unite in economic associations and to be effective taking into account requirements of the antitrust law.

3. The cooperative has the right to be engaged in any kinds of activities except for prohibited by legal acts of the Republic of Uzbekistan. At the same time implementation by cooperatives and their economic associations (including the mixed state cooperative associations of all types) functions of state bodies, control and supervision, and also the bodies performing investigation verification, bodies of inquiry, investigation and justice is not allowed.

Cooperatives, economic associations of cooperatives have the right of free conducting economic activity in the republican and international markets according to the legislation of the Republic of Uzbekistan and international treaties.

Article 4. Property of cooperative

1. Property of cooperative are fixed assets, current assets, shares, and also other values which are reflected in separate balance of cooperative.

2. The property of cooperative is formed at the expense of money and material contributions of his members, bank loans, products made by it, income gained from its sale, other activities provided by the charter of cooperative, and other sources which are not forbidden by legal acts. The physical persons which are not members of this cooperative, but working in it according to the employment contract (contract), the agreement can take part in forming of property of cooperative on a contract basis by money and material contributions of the company (organization) irrespective of patterns of ownership, and also.

3. Property of cooperative is the property of the companies and the organizations created by it, and also property of the intereconomic companies and organizations according to their equity.

The property of economic associations which part cooperatives, other companies and the organizations of various patterns of ownership are is their shirkatny (collective) property. The property of associations which part only cooperatives are belongs on the right of shirkatny (collective) property to these cooperatives if other is not provided by constituent acts of associations (unions) or the legislation of the Republic of Uzbekistan.

Article 5. Creation of cooperative and its charter

1. The cooperative will be organized at the request of citizens or at the initiative of legal entities exclusively on a voluntary basis. The number of members of cooperatives - citizens cannot be less than three people, and in consumer cooperative (society) - at least seven.

The cooperative will be organized and operates both on the independent beginnings, and under the companies, organizations, the organizations of any patterns of ownership.

The cooperative created according to the decision of the company, organization, organization of any patterns of ownership can have the rights of the legal entity, open the current and settlement accounts. The company, organization, the organization approve the charter of such type of cooperative, exercise control of its productive and economic activity and bear complete responsibility for its results.

2. The charter of cooperative is accepted by general meeting of citizens or meeting of plenipotentiaries of the legal entities wishing to found cooperative and is registered in khokimiyat in the cooperative location.

The cooperative is considered created from the moment of registration of the charter and its entering into the state register.

Property responsibility of members of cooperative for debts of cooperative shall be provided in charters of consumer, production cooperatives, cooperatives of the mixed forms. In the absence of such regulation in the charter of cooperative its state registration is forbidden.

3. In case of detection of dummy cooperative collection of not returned loans and the credits from his members is made on regulations of the current legislation.

Article 6. Membership in cooperative

1. Each physical person which reached 16-year age, who showed willingness and capable to take part in implementation of the purposes and tasks of cooperative if other is not stipulated by the legislation the Republic of Uzbekistan can be the member of cooperative.

The companies and the organizations of all patterns of ownership, and also other cooperatives and partnerships can be collective members of cooperative. Relations between cooperatives and their collective members are under construction on a contract basis.

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