The present Law regulates legal, organizational and economic basis of setting up and functioning of cooperatives (cooperative societies) and their unions (associations). The Law consists of 9 Sections that contain 35 articles. Section 1 (arts. 1-6) lays down general provisions. Section 2 (arts. 7-9) regards institution of cooperatives. Section 3 (arts. 10-16) regards membership. Section 4 (arts. 17-20) regards administrative bodies and control. Section 5 (arts. 18-24) regards property. Section 6 (arts. 25-27) establishes the bases for the functioning of cooperative. Section 7 (arts. 28-30) regards reorganization and liquidation of cooperative. Section 8 (arts. 31-32) regards unions on cooperatives (associations). Section 9 (arts. 33-35) establishes liability for the infringement of the legislation on cooperation.
Azerbaijan · 1996-02-07