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ESTABLISHMENT-CONDITIONS
OF VALIDITY-AUTHORISATION FOR USING NAME Article
- 2 : A cooperative can only be established
by a principal agreement to be signed by at least 7 partners. It is compulsory
for the signatures m the principal agreement to be notary approved.The
undertakings that the rights of the immovables wiU be transferred to
the partners regarding a construction cooperative or other cooperatives within the subject ofwhich the transfer ofthe rights ofthe immovable is included m the principal agreements are valid without the need for searching for other official forms.A cooperative cannot be established by limiting the amount of capital.The name "cooperative" can only be used by organisations established in accordance with this law.Within the titles of the cooperatives and the upper institutions, the names of the state institutions and enterprises can not take place. The members of the board of directors of the cooperatives and the upper institutions acting on the contrary to this item, are sentenced to imprisonment between one month to six months and to heavy fine between fifty thousand Turkish Lira to five hundred thousand Turkish Lira,depending on the importance and nature ofthe action. |
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