This Act is established to enhance the cooperative system and support and promote cooperative enterprises. The liabilities of cooperatives are divided into the following three types: 1. Limited liability: a member shall be liable within the range of the shares he holds. 2. Guaranteed liability: a member shall be liable within the range of the shares he holds and the guarantee. 3. Unlimited liability: where the properties of such a cooperative are insufficient to pay the debts, the members shall be jointly and severely liable. Cooperatives may be exempted from income tax and business tax. The Act further provides for the requirements for the establishment of a cooperative, the articles of association, meetings and membership of a cooperative, the business activities which a cooperative may engage in, cooperatives union, offences and penalties,etc.
китайская провинция Тайвань · 2015-06-03