The Republic of LATVIA, the LAW on amendments to the Latvian Republikas1991 august 6, the law "on cooperatives (collaborative) companies of the Republic of Latvia Supreme Council decides: to make the Republic of Latvia on 6 august 1991, the law On cooperatives (collaborative) companies" (the Republic of Latvia Supreme Council and Government Informant, 1991, 35/36) to make the following amendments: 11, 14, 18, 20, 24, 26, 30 and 38 of the article as follows: «article 11. Cooperative society founders and members of the cooperative society founders considered legal capacity of natural persons, which have signed cooperative society statutes and statutory of the shares contributed. Cooperative society founders become members of public registration.
Members of the cooperative society may be any person who has reached 16 years of age, but for the Board or the Audit Commission member — the only person who has reached 18 years of age.
On students ' cooperative society members with an older or a replacement person consent can also be a person who has reached 12 years of age, but for the Board and the auditing Commission member — the only person who has reached 16 years of age.»
«Article 14. Members of the cooperative society admission physical persons who wish to enter a cooperative society, on application and contribution in cash and shares for the accession to the Statute and to the extent set out in the agenda.
Members admitted under the procedures laid down in the statutes, members of the general meeting (the meeting is authorized), or the Management Board.
The rights and obligations of members begins with the moment when the institution provided for in the statutes, adopted a decision on their admission to the cooperative society.
If members take a Board and it is refused admission, application for appeals against decisions of the Board may be submitted to the general meeting of members (authorised meeting) a month from the date of the decision of the Board. The members of the general meeting (the meeting authorised) decision is final.
Cooperative societies must not be converted to a closed organization. Refuse to admit new members _ can only its cooperative society, which carried out the operation only between their members, if the cooperative society or authorities could not successfully serve a greater number of members and it is laid down in the statutes. "
«Article 18. Cooperative society members ' withdrawal and exclusion order each Member may withdraw from the cooperative society, by submitting a written application.
Members can sign up for a withdrawal after a decision on the liquidation of a cooperative society.
You can exclude a member, if he violates this law or the Statute.
Right off is the general meeting of members (authorised meeting), if not otherwise specified in the statutes.
A member's withdrawal or graduation day considered the actions the last day of the year.
The members of the general meeting (the meeting authorised) the decision on expulsion is final.
At the moment the decision on withdrawal or exclusion, the Member loses the right to participate in the general meeting of members (authorised meeting) and run by other institutions.
Former member responsible for cooperative society to the withdrawal date.
The statutes may provide for the transfer of shares other companion with this cooperative society of the consent of the institution empowered to pick members.
The former member, who dropped out of society, cooperative shares payable within one year from the date of approval of the annual accounts, deducting from the value or loss plus dividend.»
«Article 20. Cooperative society capital and profit share capital cooperative society's material and money resources required for start-up cooperative society and its further expansion. The minimum share capital value is determined by the paraugstatūt pursuant to the cooperative society.
All membership shares in the total value of the cooperative society in the form of share capital.
Share capital increases and decreases depending on the number of members and in accordance with the procedure laid down in the statutes, the modifications cost.
A cooperative society to form the reserve capital from the profit tax deductions. Reserve a minimum capital value is determined by the paraugstatūt pursuant to the cooperative society. Cooperative societies can also create other capital of the statutes.
Profits, if any, is provided in the statutes, is owned by the members of this cooperative society With members of the general meeting (the meeting authorised) profit balance after payment made, is distributed as follows: 1) cooperatives, subject to the operation of this article, capital formation;
2) educational, cultural and charitable activities;
3) divisions between members in proportion to their participation in the operation of the cooperative society, as with the payment of dividends to members of statutory cases.
Former member, withdrawal or exclusion or of the cooperative society, has the right to receive only the shares from which the value of the deduction of losses incurred or which does not receive the value plus dividend. If the shares invested in movable or immovable property, in the form of a companion withdrawal off the case after his election this property shall be returned or paid to its value in cash.
If the cooperative society alienates real property, pre-emption is the other cooperatives and their associations. Analogous procedure is followed even if the forfeit of the Union of cooperative societies real property.»
«Article 24. Cooperative society members ' general meeting (the meeting authorised) eligibility only cooperative society members ' general meeting (the meeting authorized): 1) decide any question relating to the activities of the public;
2) decide on actions in the past year report of the Management Board and the Audit Commission (auditor's) report;
3) decide on the cooperative society of the Board's budget and work plan for the new year;
4) adopt and amend the cooperative society of the internal rules and regulations of the cooperative society and its members ' mutual obligations and responsibilities;
5) defines cooperatives joined money and membership fees the size and value of the shares;
6) complaints about the decisions of the Board;
7) elect or cooperative society, Board Chairman of the Management Board and the members of the Audit Commission (Auditor);
8) decide on matters related to the cooperative society reorganisation or liquidation, as well as with the cooperative society of cooperative societies Union membership and withdrawal from them.»
«Article 26. General meeting of the members of the cooperative society (Trustee meetings) the progress of the members general meeting (the meeting authorised), which was notified in accordance with the procedure laid down in the statutes, is entitled, if it represented more than half of the members of the cooperative society (Trustee). The general meeting (the meeting authorised) decide only those questions that are included in the members notified in the agenda.
The general meeting of members (authorised meeting) decide to vote, except when a secret ballot is requested at least a tenth of the members present. Voting by secret ballot is required, electing and removing from Office the Chairman of the Board, the Board and the members of the Audit Commission (Auditor). Cooperative society statutes may provide for other instances of voting by secret ballot is required.
The general meeting of members (authorised meeting) shall take decisions by a simple majority.
A two-thirds majority of the members present is required to confirm the cooperative society statute, amend them, join the Union of cooperative societies and unsubscribe from them, make a decision on termination of the cooperative society.
The statutes may provide for other matters that members must decide by a two-thirds majority of the members present. "
«Article 30. Cooperative society dissolution of cooperative societies can be reorganised with the members of the general meeting (the meeting authorised) decision, but to eliminate, by a two-thirds majority of members present.
Cooperatives may be removed by a decision of the Court of Justice in the following cases: 1 when it declared insolvent);
2) If during the year after registration it has not launched an action in a procedure prescribed by law;
3) if it is in violation of this law and other laws. "
«Article 38. Union of cooperative societies in order to create the Union of cooperative societies: 1) required no less than three founders (cooperative society) who put in the original part of the capital;
2) be held the founding meeting (Congress, conferences);
3) must approve the statutes and must be elected by the governing body and the Executive Body, as well as the Audit Commission, which is the Union of cooperative societies of control and audit institutions.
Decision on accession to the Union of cooperative societies and withdrawal from the cooperative society accepts members ' general meeting (the meeting authorised).
Cooperative societies Union acquires legal personality right at the moment when it is registered in the enterprise register of the Republic of Latvia.
Cooperative societies Union registration requires the following documents: application, statutes and bank certificate on the initial capital contribution.»
The Republic of Latvia Supreme Council Chairman a. GORBUNOV of the Republic of Latvia Supreme Council Secretary i. DAUDIŠ in Riga on 25 May 1993, the