Finland > Cooperatives

Finland - Cooperatives - Law, Act

Act (No. 890 of 2002) to amend the Co-operatives Act (No. 1488 of 2001). -

Adoption: 2002-11-01 | Date of entry into force: 2003-01-01 | FIN-2002-L-62985

Amends Sections 5 and 15 of Chapter 5 (management).

Finland - Cooperatives - Law, Act

Co-operatives Act (1488/2001). (Osuuskuntalaki) -

Adoption: 2001-12-28 | FIN-2001-L-62984

Chapter 1 contains general provisions (scope, definitions, liability of members). Chapter 2 provides for incorporation and rules (registration, etc.) and Chapter 3 deals with membership (minimum number of members, membership register, right to resign, decision to expel). Chapter 4 contains provisions on general meetings and Chapter 5 on management. Chapter 6 deals with accounts, Chapter 7 with audits, Chapter 8 with use of assets and funds. Chapters 9, 10, 11 and 12 deal with shares. Chapter 13 provides for rules regarding capital loans. Chapter 14 concerns extraordinary payments, Chapter 15 liability of refinancing, Chapter 16 mergers, Chapter 17 division of a co-operation and Chapter 18 reincorporation. Chapter 19 provides for liquidation, dissolution, deregistration, restructuring and bankruptcy and Chapter 20 for rules of liability. Chapter 21 makes provisions for savings funds operations and Chapter 22 provides for penal provisions. Unofficial translation (Ministry of Labour, 2002) available in English.