Article 11. Cooperative Property

On property in the Republic of Uzbekistan (152-XII-son) · Date: 31.10.1990 · In force

1. Property jointly owned by citizens who voluntarily unite on a membership basis to conduct joint economic activity or other activity is cooperative property.

2. Cooperative property is formed and expanded through contributions in money or other property made by its members, income from the products they produce and sell, as well as income from other activities provided for by the cooperativeʼs charter.

3. In the event of the liquidation of a cooperative, after settlements with the budget, banks, and other creditors, the remaining property shall be distributed among its members in the manner provided for by the charter.

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Source of the text

National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/6803795

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Cite as: Article 11. Cooperative Property On property in the Republic of Uzbekistan (152-XII-son). neolex.uz/en/laws/law-111455/11 (lex.uz/docs/6803795)