Article 19. Competence of the General Meeting of the Consumer Cooperative Law on Consumer Cooperatives

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1. The competence of the general meeting of a consumer cooperative shall be determined in accordance with this Law and the articles of association of the consumer cooperative.

2. The exclusive competence of the General Meeting includes:

1) amendments and additions to the charter of the consumer cooperative, including changes in the amount of the property (share) contribution, location and name, or approval of the charter in a new version;

2) definition of the main directions of activity of the consumer cooperative;

3) election of the head and members of the executive, supervisory and other bodies of the consumer cooperative, termination of their powers, hearing reports on their activities, determining the amount of funds for their maintenance;

4) exclusion of members of the consumer cooperative from the cooperative;

5) approval of internal rules, procedures for their adoption and other documents regulating the internal activities of the consumer cooperative;

6) resolving issues related to the establishment of an association (union) of consumer cooperatives, joining the association (union) and leaving it;

7) approval of the annual financial statements and the report of the audit commission (auditor) of the consumer cooperative;

8) the procedure for covering losses incurred by the consumer cooperative;

9) determination of the types and procedure for the formation and expenditure of funds of the consumer cooperative;

10) alienation of immovable property of a consumer cooperative, the value of which exceeds the value determined by the charter;

11) making decisions on the reorganization and liquidation of the consumer cooperative;

12) election of the chairman and members of the liquidation commission and approval of the liquidation balance sheet.

3. Along with the issues referred by this Law to the exclusive competence of the general meeting, the articles of association of the consumer cooperative may include other issues within its exclusive competence.

4. The General Meeting has the right, unless otherwise established by the charter of the consumer cooperative, to delegate powers not related to its exclusive competence to the executive body of the consumer cooperative.

5. The General Meeting of the consumer cooperative has the right to consider issues related to the confirmation or cancellation of decisions of the executive, supervisory and other bodies.

6. The General Meeting of the consumer cooperative has the right to consider any issue related to the activities of 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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