Article 25. The property of the consumer cooperative, the sources of its formation of the Law on the Consumer Cooperative
1. The owner of the property listed on the balance sheet of a consumer cooperative is a consumer cooperative as a legal entity.
The property of a consumer cooperative is formed by combining its members' property (share) contributions.
In addition to property (share) and additional contributions, the sources of formation of the consumer cooperative's property are income received from the entrepreneurial activities of the consumer cooperative and other sources not prohibited by the legislation of the Republic of Kazakhstan.
2. The income received by a consumer cooperative cannot be distributed among its members and is used for statutory purposes.
3. The disposal of property owned by a consumer cooperative is carried out by decision of the general meeting.
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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