Establishment (Foundation) of Cooperative
This is a business association established by persons who want jointly to supply various needs connected with their professions, crafts, and livelihoods. Such an association is based on the principle of mutual help and suretyship. Arrangements related to co-operative associations are governed by the Co-operatives Law. Cooperatives are established by a founding charter (articles of association) signed by at least 7 shareholders (partners).
The following points should be included in the cooperative contract;
- Approval date of the contract,
- Title and registered office (company headquarters) of the cooperative,
- Objective and field of activity of the cooperative and its duration (if available),
- Circumstances providing the acquisition and leaving the shareholder / partner status,
- Capital of the cooperative and the minimum amount paid in return for its cash part and value of each partner’s share,
- Registered shares,
- The condition that the shareholders invest capital in kind or not, qualification of assets of the acquired and capital in kind entities and valorization of the said matters,
- Status and level of the liabilities of the shareholders with regard to the liability of the cooperative,
- Duties, powers and liabilities of the executive and auditing bodies of the cooperative,
- Provisions in respect to the representation of the cooperative,
- Calculation of annual income and expenses difference and forms of utilization,
- Form of notification of cooperative advertisements and decision(s) of the executive body to the shareholders (if there is a provision stated in the articles of association regarding the said matter),
- Names, surnames, residence and business addresses of the founders,
Registration Procedures (Transactions)
(1-) Petition (must be signed by the members of the administrative board (board of directors) of the cooperative jointly, if is signed by proxy, original form or authenticated copy of the power of attorney must be enclosed and included with the attached documents. The title, capital, registered office, starting date of business, field of activity on this date and NACE code with regard to the cooperative must be specified clearly and the following statement must be included as; “the information contained in this petition is complete and accurate, if otherwise is determined the person or persons signing this petition shall be responsible.”)
(2-) Contract booklet authenticated by the related ministry,
(3-) Original form of the permission writ / license of the related Ministry,
(4-) Statement of signature (declaration of signature or the list of authorized signatures) of the members of the board of directors (administrative board) under the title of the cooperative,
(5-) Notarized copy of the contract summary (2 copies)
(6-) Chamber Registration Statement, (must be signed by the partners (shareholders) and must be with photos of the partners (shareholders)),
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