FZ-190 "On Credit Cooperation": table of contents, principles, changes and comments

FZ-190 "On Credit Cooperation" regulates the relations associated with the system of various consumer loans. It is this normative act that will be analyzed in the article.

About the purposes and concepts of the law

In Article 1 of the Federal Law "On Credit Cooperation"The main goals of the presented normative act are fixed. These are the legal, organizational and economic foundations of the activities of cooperatives of the credit and consumer type, various unions, associations, etc.

The following terms and terms are often used in the law:

• Credit cooperative of consumer type -a union of individuals or legal entities created on a contractual basis, the purpose of which is to meet the financial needs of the members of the cooperative.
• A member of a credit cooperative, or a shareholder is a person accepted under a contract with a credit cooperative.
• Contributions of the shareholder - funds that are contributed to the cooperative for the implementation of the professional activities of the cooperative.
• Membership fee is the finance that members of the co-operative make to cover the expenses of the organization for the purposes fixed by the charter.

A more detailed description of each of the concepts presented is described in subsequent provisions of FZ-190 "On Credit Cooperation".

About activity

What are the functions of credit cooperatives? What are they needed for? Answers to these questions are provided by Article 3 of the Federal Law "On Credit Cooperation".

According to the law, all activities of the cooperative are aimed at organizing mutual monetary assistance to the shareholders. This can be achieved by implementing the following functions:

• placement of finance by providing loans to members of the cooperative;
• accumulation of savings from shareholders.

What is the basis for the activities specified in FZ-190 "On Credit Cooperation"? Principles and conditions here should be highlighted as follows:

• legality and justice;
• constant financial mutual assistance of shareholders;
• the principle of limiting the participation of persons that are not members of the cooperative;
• voluntary nature of joining a credit cooperative;
• freedom to exit from the cooperative;
• principle of organizational self-government;
• equality of rights of members of the organization;
• equality of access of shareholders to information on the activities of the organization;
• the principle of solidarity when the members of the cooperative are liable for subsidiarity.

Neither the authorities nor the Bank of Russia shouldinterfere in the activities of credit cooperatives. Only a few exceptions have been established by the law, which mainly deal with control and supervisory activities.

On the creation and liquidation of cooperatives

Document No. 190, Federal Law "On Credit Cooperation",establishes norms and rules, according to which the organizations in question should be formed and liquidated. Thus, Article 7 states that the establishment of a credit cooperative is possible only by recruiting a minimum of 15 individuals or 5 legal entities. Must be membership for some reason: professional, territorial, etc.

Decisions of founders should be made outspecial protocol. Separately it is necessary to single out the process of state registration, without which the work of cooperatives would not be possible. The organization will be included in a special register of legal entities operating at the national level. Reorganization of the cooperative is possible only after the introduction and registration of certain changes in the organization's charter.

How can a credit cooperative be liquidated? The answer to this question is provided by Article 10 FZ-190 "On Credit Cooperation". There are the following liquidation options:

• by a court decision in accordance with the Civil Code of the Russian Federation;
• by decision of the general meeting of members of the cooperative.

A record of liquidation in the Unified Register of Legal Entities will serve as an official cessation of the operation of a credit cooperative.

On the structure and ownership of the organization

FZ-190 "On Cooperation," namely, 15 of his article,tells about the bodies of the credit cooperative, which constitute the structure of the entire organization. The bodies are the meetings of the members of the authority, that is the shareholders. They can be united in the board of the cooperative, the executive body, the inspection commission, and so on.

Article 25 of the normative actnarrates about the property of credit cooperatives. This, however difficult to guess, shares (contributions of shareholders), income from cooperative activities, attracted funds, as well as some other types of property.