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Ratified by the General Meeting of Glazov Beekeeping Credit Consumers’ Cooperative Society of People The Regulations Of Glazov Beekeeping Credit Consumers’ Cooperative Society Of People. Udmurt Republic Glazov 2004 Glazov beekeeping consumers’ cooperative society of people, termed the cooperative society below, is established in accordance with the law of RF ¹117-FL, August, 7 2001 “About credit consumers’ cooperative societies of people”. The Cooperative Society is a juridical person, owns solitary property, has independent balance, pay & other accounts in banks, seal with its own name, and functions on the grounds of present regulations. Branches, departments, agencies, established by the Cooperative Society, have extra indications of their names & places of openings.
1.1 The full name of the Cooperative Society is Glazov Beekeeping Credit Consumers’ Cooperative Society of People. 1.2 Location: Glazov city, Udmurt Republic, Russia. 1.3 The period of Cooperative Society is unlimited. 1.4 The cooperative Society activity is legal on the territory of Russian Federation & other countries.  2. Subject & purposes of the Cooperative Society. 2.1 The Cooperative Society is established for financial mutual support within the development of beekeeping infrastructure & satisfaction of needs of its members. 2.2 To solve above-mentioned purposes, The Cooperative Society, in accordance to the Order, established by Legislation, fulfills: 2.2.1 activity within the sphere of beekeeping infrastructure development & rendering the service within this branch by giving new working places; 2.2.2 rendering other service, corresponding to the purposes of activity, & not contradicting the RF Legislation, also to conclude insurance contracts on behalf of & on a commission of its members, in accordance with the present Regulations & decisions of Cooperative members. 3. Order of admittance of Cooperative Society members & Stopping of membership. 3.1 Members of Cooperative Society can be persons, reached the age of 16 & accepting the Regulations. 3.2 Cooperative Society admittance is fulfilled on the grounds of personal declaration & payment of share. 3.3 Stopping of membership is fulfilled: 3.3.1 voluntary, on the grounds of personal declaration; 3.3.2 compulsory, for non-observance of present Regulations; 3.3.3 in a case of death or declaration of being dead. Rate, Structure & Order of share & supplementary payments 4.1 Share is paid in on the grounds of personal declaration in sum neither more than 10% sum total of share, nor less than 1000,00 (one thousand) rubles. 4.2 Share is paid in by ruble, foreign currency, also property on the grounds buying & selling contract to fulfill established purposes of the Cooperative Society. 4.3 Share can be increased. 4.4 Decision of extra share, necessary for providing the Cooperative Society activity, is taken by General Meeting & is to be fulfilled by Cooperative Society members during three months since it has been taken. 5. Amenability of the Cooperative Society members obligation break of share payments. 5.1 Without paying in the share, one is prevented from fulfillment of Cooperative Society membership. A person, who doesn’t pay the share, is not considered to be a Cooperative Society member. 6. Order of Restitution share. 6.1 If stopping the Cooperative Society membership, Cooperative Society member has a right to get money costs of the Cooperative Society property share, corresponding to the share of the Cooperative Society member in sum of Cooperative Society share. 6.2 Indicated sum must be paid off in time, not later than three months since the secession declaration has been presented. 7. Terms & Order of receiving loans. 7.1 Loans are given from Financial Mutual Support Fund of Cooperative Society (FMSF). 7.2 FMSF means of Cooperative Society are used for giving loans only to Cooperative Society members. 7.3 Cooperative Society money, given to its members, is drown up with loan contract. Loan contract is drown up in written form, where the measures of Loan return are guaranteed. Non-observance of written form of Loan contract involves its invalidity. 7.4 Loan contract can be bearing no interest, if it doesn’t make a provision for such a case, as the contract is concluded in sum, not increasing the specified rate in the article ¹809 of Civil Code of RF & it isn’t connected with business realization. 7.5 Decision of Loan deliveries & order of Loan returns, in accordance with principles, established by General Meeting, is taken by Loan Committee or Management, according to the article ¹ RF “About credit consumers’ cooperative societies of people” August, 7 2001 7.6 FMSF Loans of April, 15 – October, 15, as far as possible, are wholly directed at business purposes, while of October, 16 – April, 14 – for other needs of Cooperative Society members, taking into account the specificity of beekeeping activity, basically as seasonal. 8. Rights & Responsibilities of Cooperative Society Members. 8.1 Cooperative Society Members have a right to: 8.1.1 use all service, given by Cooperative Society; 8.1.2 take part in management of Cooperative Society & be elected into its bodies; 8.1.3 give personal savings to FMSF of Cooperative Society on the grounds contract; 8.1.4 get loans for consumer & other needs under the terms of, provided by Cooperative Society Regulations & other documents, which regulate its activity; 8.1.5 get compensations for using their personal savings with a view of fulfillment of financial mutual support; 8.1.6 get from Cooperative Society bodies any information about Cooperative Society activity, including the results of internal & external check-ups of financial activity in order, provided by Cooperative Society Regulations; 8.1.7 in a case of stopping the membership get money costs of property share of Cooperative Society, corresponding to the share of Cooperative Society in sum of share of Cooperative Society members; 8.1.8 get other rights, provided by RF Legislation, Cooperative Society Regulations, & other documents, which regulate Cooperative Society activity. 8.2 Cooperative Society members are obliged to: 8.2.1 pay in share in order, provided by Cooperative Society Regulations; 8.2.2 follow the Regulations; 8.2.3 fulfill the decisions of General Meeting of Cooperative Society members & its bodies, taken within their competence; 8.2.4 pay back loans timely; 8.2.5 bear other responsibilities, provided by RF Legislation, Cooperative Society Regulations, & other documents, which regulate its activity. 8.3 Cooperative Society member bears responsibility under his commitments before Cooperative Society on the grounds of & in order, provided by RF Legislation. 9. Rights & Responsibilities of Cooperative Society before its members. 9.1 Cooperative Society renders financial service before its members, in accordance to the Present Regulations. 9.2 Cooperative Society can render other service its members, corresponding to the purposes of activity & not contradicting RF Legislation. 9.3 Cooperative Society has no right to: 9.3.1 give loans to people, not members of Cooperative Society; 9.3.2 give loans to juridical persons; 9.3.3 be a charger under the commitments of its members & third persons; 9.3.4 contribute its own property as a deposit to based capital of household associations & companies, industrial Cooperative Societies, & other means of using ones own property to form property of juridical persons. 9.3.5 issue of one’s own securities; 9.3.6 buy shares & other securities of other issues, to fulfill other operations on financial & fund markets, with the exception of keeping finance on current & deposit accounts in Banks & of acquisition of state & municipal securities. 9.4 Cooperative Society is obliged to protect financial interest of its members within the bounds of Present RF Legislation. 10. Staff & Competence of Cooperative Society bodies, Order of their formation, Order of taking decisions by them, also the questions, which solutions are taken by qualified majority of votes. 10.1 Cooperative Society bodies: 10.1.1 Cooperative Society bodies are General Meeting of Cooperative Society members, Management of Cooperative Society, Auditing Committee & Cooperative Director. In addition, Loan Committee & other bodies can be formed in accordance to RF Legislation & Regulations; 10.1.2 management, Loan Committee, Auditing Committee bodies are not paid for the activity in mentioned bodies; 10.1.3 Cooperative Society bodies’ activity is regulated by Cooperative Society Regulations & Cooperative Society Statute, if mentioned Statute has been ratified by the General Meeting. 10.2 The General Meeting of Cooperative Society members: 10.2.1 the General Meeting is a supreme body of Cooperative Society. Meeting is competent, if less than 10% of Cooperative Society members take part in its activity. Regular General Meeting is held annually in March. Special General Meeting of Cooperative Society members is convoked by initiative of Management, Loan Committee, Auditing Committee or Cooperative director or general number of Cooperative Society members’ order; 10.2.2 to the questions of exceptional competence of General Meeting, which solutions are taken by two third part of general number of Cooperative Society members, belong: · ratification of Regulations, making alterations & addenda to it; · ratification of clauses about order of formation & using of finance, contracts, concluded by the Cooperative Society with its members, bodies of the Cooperative Society; also other clauses about Cooperative Society activity; · ratification of main directions of financial expenses of the Cooperative Society, including limits on administrative expenses; · determination of principles of loan assignment, also determination of maximum loan rate, giving to Cooperative members; · solution of questions about entering to Associations (Alliances) of credit consumer’s Cooperative Societies of people & leaving these Associations (Alliances); · acceptance of decisions about reorganization & liquidation of the Cooperative Society. 10.2.3 to the questions, which solutions are taken by majority votes, belong: · election of Cooperative Society Management, its reelection, also consideration of account, of their activity; · ratification of Management & Auditing Committee decisions, which demands ratification in accordance to RF Legislation or Regulations. · ratification of annual balance; · in a case of necessity, acceptance of decisions about audit & option of auditor; · order determination of Cooperative Society fund formation & its using, ratification of accounts about their using. 10.2.4 The General Meeting of Cooperative Society members ha a right to take into consideration any question, which belongs to activity; 10.2.5 acceptance of solutions can be held in absentio form of voting. 10.3 Management of the Cooperative Society: 10.3.1 Management of the Cooperative Society is at the head of it during the periods of General Meetings of Cooperative Society members; 10.3.2 management chairman of the Cooperative Society & management members can not hold a position of Cooperative Society director; can not be the members of Auditing & Loan Committees. Member of the Cooperative Society can combine its own activity in Management with work in the Cooperative Society, according to labor contract. Number of Management members, working according to Loan Committee in the Cooperative Society shouldn’t exceed one third of Management staff. 10.4 Loan Committee of the Cooperative Society: 10.4.1 takes decisions about giving loans & order of their return in accordance with principles, determination by General Meeting of Cooperative Society members; 10.4.2 is elected by General Meeting of Cooperative Society members. Loan Committee members can not be director, chairman of Management, members of Management, members of Auditing Committee. Loan Committee members can not combine their activity in Committee with work in the Cooperative Society according to Loan committee. 10.5 Auditing Committee of the Cooperative Society: 10.5.1 the Auditing Committee controls the Cooperative Society activity & its members; 10.5.2 members of Auditing Committee can not be the Cooperative Society director, Management chairman & members of Management, Loan Committee members. 10.6 Director of the Cooperative Society: 10.6.1 executive body of the Cooperative Society is director, who is appointed & removed by General Meeting of the Cooperative Society members, & between General Meetings – by Management with compulsory ratification on next regular meeting. Director of the Cooperative Society can not be the member of the Cooperative Society; 10.6.2 director of the Cooperative Society carries out his activity in accordance to Regulations of the Cooperative Society, decisions of General Meeting of the Cooperative Society members & its Management; 10.6.3 director of the Cooperative Society can not be elected as chairman of Cooperative Management, member of Management, member of Auditing & Loan Committees of the Cooperative Society; 10.6.4 the Cooperative Society director can give Cooperative Society employment to workers, according to Labor Contract, outcoming from established by general Meeting of Cooperative Society members general sum of expenses for administrative expenses; 10.6.5 the Cooperative Society acquires & fulfills Civil Rights & Responsibilities through its director who acts on behalf of the Cooperative society. 11. Sources of forming & Order of using the property of the Cooperative society. 11.1 Property of the Cooperative Society: 11.1.1 Cooperative Society property is formed at the expense of share of members, Cooperative profit from accomplishing its activity, also at the expense of sponsor dues, charitable donations & other sources, not prohibited by RF Legislation; 11.1.2 property of the Cooperative Society belongs to it on right of ownership; 11.1.3 personal savings of Cooperative Society members, involving to FMSF, are not the property of the Cooperative Society& are not burdened by execution of its obligation. · transmitting of personal savings to the Cooperative Society is fulfilled on the grounds of contract, which is concluded between the Cooperative Society & its members in written form. Non-observance of written form of mentioned contract involves its invalidity; · the contract of transmitting of personal savings is obliged to keep terms about the sum of granted personal savings, order of their transmitting, terms & order of their return, rate & order of fee for their using. Sides of the contract can provide other terms; · fee of the Cooperative Society to its members for using of their personal savings is included into the sum of Cooperative Society expenses; · personal savings of people, given for Cooperative Society using on the grounds of the contract, are discounted & shown separately from the other finance FMSF of the Cooperative Society. 12.1 For guaranteeing financial activity of the Cooperative Society: · Financial Mutual Support Fund (FMSF); · Reserve Fund (RF); · Insurance Fund (IF) are formed. 12.2 FMSF of the Cooperative Society is formed at the expense of part of Cooperative Society own finance, which rate is determined by Management of the Cooperative Society in accordance to its Regulations& decision of General meeting, also personal savings of Cooperative Society members, transferred to using of the Cooperative Society, only for giving loans to its members. FMSF for business purposes can not exceed half of this fund. The size of temporary FMSF rest can not exceed half of mentioned fund. Temporary spare FMSF rest can be used exclusively for acquisition of state & municipal security, also for keeping on deposit accounts in Banks. 12.3 RF is formed for guaranteeing unforeseen expenses. 12.4 IF is formed for payment of possible loss from Cooperative validity. 12.5 Rate of RF & IF are affirmed by General Meeting of Cooperative members. 12.6 The Cooperative Society insures risk of non-returning of loans in case of death or loss of debtor’s work incapacity. 13.1 Losses are covered by IF. 14. Order of information assignment to Cooperative Society members & Amenability of Cooperative Society for its assignment. 14.1 Information assignment to Cooperative Society members about Cooperative validity is carried out by the Cooperative authorities. 14.2 Amenability for non-assignment of informantion to Cooperative Society members is regulated by present-functioning RF Legislation. 15. Order of fulfillment of ordinary external audit of Cooperative Society financial validity. 15.1 Controlling of Cooperative Society financial validity is carried out by Auditing Committee. 15.2 Extraordinary audits of financial validity are fulfilled on the grounds of declaration of not less than one third of general number of the Cooperative Society members. 16. Reorganization & liquidation of the Cooperative Society. 16.1 Reorganization of the Cooperative Society is fulfilled on the grounds of & in order which are provided by RF Legislation. In case, if number of Cooperative Society members exceeds two thousands of people, during six months since the moment of attainment of maximum number, reorganization is fulfilled in the form of its division or apportionment of one or several juridical persons according to territorial sign/ indication from its staff. 16.2 Liquidation of the Cooperative Society is fulfilled on the grounds of & in order, which are provided by RF Legislation. Liquidation is also fulfilled in case, if number of Cooperative Society members is less than fifteen persons. Liquidation of the Cooperative Society can be voluntary on the grounds of decision of General Meeting. The Cooperative Society is a subject to liquidation in case of unprofitable validity fulfillment, if decision about loss payment by means of extra share payment s taken by General Meeting. 17. Basic Principles of Cooperative Validity. · voluntary joining to the Cooperative Society; · freedom of leaving the Cooperative Society, independent from agreement of other Cooperative Society members; · equality of rights & responsibilities of all Cooperative Society members, independent from share rates, taking of decisions; · personal participation of Cooperative Society members in Cooperative Management. 18.1 Sides of Cooperative Society validity, not mentioned in these Regulations, are regulated by present-functioning RF Legislation. 05.01.2004 |
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