Article 16. Termination of membership in a consumer cooperative of the Consumer Cooperative Act

Home / RLA / Article 16. Termination of membership in a consumer cooperative of the Consumer Cooperative Act

1. Membership in a consumer cooperative is terminated in the following cases::

1) voluntary withdrawal;

2) exceptions;

3) loss of the right to a share in the property;

4) the death of a citizen who is a member of a consumer cooperative, declaring him deceased, recognizing him as missing in accordance with the procedure established by the legislation of the Republic of Kazakhstan;

5) liquidation of a legal entity that is a member of a consumer cooperative;

6) liquidation of the consumer cooperative.

2. In case of voluntary withdrawal, a member of a consumer cooperative has the right to allocate his share in the property of the consumer cooperative in proportion to the property contribution made, in accordance with the procedure established by this Law.

3. A member of a consumer cooperative may be excluded from the consumer cooperative by a decision of the general meeting in the event that he fails to fulfill his duties established by the charter without valid reasons, or commits intentional acts detrimental to the consumer cooperative.

A member of a consumer cooperative must be notified in writing no later than ten days in advance by the executive body of the consumer cooperative of the reasons for submitting to the general meeting the issue of his exclusion from the consumer cooperative and invited to the said general meeting, at which he must be given the right to express his opinion.

In the absence of the excluded member of the consumer cooperative without a valid reason at the general meeting of the consumer cooperative, he has the right to decide on his exclusion without his participation. A decision is considered adopted if two thirds of those present at the meeting voted for it.

An excluded member of a consumer cooperative is allocated a share in the property of the consumer cooperative, proportional to the property (share) contribution made, in accordance with the procedure established by this Law.

The decision of the general meeting to expel a member of a consumer cooperative from the cooperative may be appealed in court.

4. A member of a consumer cooperative who has lost the right to a share in the property of the consumer cooperative shall terminate his membership in the consumer cooperative.

The loss of a share occurs for the following reasons:

1) sales;

2) donations;

3) orders in other ways;

4) court decisions.

A member of the consumer cooperative who has lost the right to a share in the property, informs the executive body of the consumer cooperative about this. This information may be submitted to the executive body of the consumer cooperative by persons who have received the right to a share in the property.

Termination of membership in a consumer cooperative in the event that a member loses the right to a share in the property is formalized by a decision of the executive body of the consumer cooperative.

5. In case of death, recognition as missing or declaration of deceased in accordance with the established procedure of a citizen who is a member of a consumer cooperative, his membership in the consumer cooperative is terminated.

The executive body of the consumer cooperative allocates the share of the deceased member of the consumer cooperative in the property on the day of death, recognition as missing or declaration of his deceased, proportional to his share, in accordance with the procedure established by this Law, for payment to its heirs.

6. The executive body informs the members of the consumer cooperative about all cases of termination of membership in the consumer cooperative.

The Law of the Republic of Kazakhstan dated May 8, 2001, No. 197.

This Law defines the legal status of consumer cooperatives, the organizational, economic and social conditions of their creation, operation, reorganization and liquidation, the rights and obligations of members, the powers and responsibilities of management and control bodies.

President

Republic of Kazakhstan

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