Legal Acts in English

This Law shall regulate the legal status of cooperatives, their establishment, management and cooperative bodies, acquisition and termination of the status of cooperative members, book of cooperative members, assets and operations of a cooperative, funds, distribution of profits and covering losses in cooperatives, termination of cooperatives, cooperative union, complex cooperatives, registration of cooperatives, cooperative auditing, as well as other issues of importance for the location and operation of a cooperative.

The cooperative shall be understood to mean a legal entity, which represents a special form of organisation of natural persons (hereinafter referred to as: "a cooperative member") who realise their economic, social, cultural and other interests by operating on cooperative principles and who manage and control the operations of the cooperative.

A cooperative member shall be understood to mean a natural person who is a member of the cooperative and who fully or partially operates through the cooperative, i.e. who sells their products or services through the cooperative, procures products or uses services necessary for performing its activities or who is otherwise directly involved in carrying out activities for which the cooperative is established.