According to the law, when are cooperative members granted capital contribution certificates?

When are cooperative members granted capital contribution certificates? What contents does the certificate contain?

1. When are cooperative members granted capital contribution certificates? What contents does the certificate have?

According to the provisions of Clause 4, Article 17 of the 2012 Law on Cooperatives, cooperative members are granted a capital contribution certificate when fully contributing capital.

And the Capital Contribution Certificate has the following main contents:

(1) Name and address of the headquarters of the cooperative commune.

(2) Number and date of issuance of cooperative registration certificate.

(3) Full name, permanent address, nationality, identity card or passport number of members who are individuals or legal representatives of households.

In case members are legal entities, the name, head office, establishment decision number or number must be clearly stated. registration; full name, permanent residence address, nationality, identity card number or passport of the legal representative of the legal entity.

(4) Total capital contribution; time of capital contribution.

(5) Full name, signature of the legal representative of the cooperative.

2. What rights do cooperative members have?

According to the provisions of Article 14 of the 2012 Cooperative Law, cooperative members have the following rights:

– To be provided with products and services by the cooperative according to service contracts.

– To distribute income according to the provisions of this Law and its articles regulations.

– To enjoy the benefits of the cooperative.

– To attend or elect delegates to attend the general meeting of members.

– To vote on matters falling under the authority of the general meeting of members according to the provisions of Article 32 of this Law.

– To nominate and nominate members of the board of directors and control board or controller and other elected positions of the cooperative.

– Recommend and request the board of directors, director (general director), control board or controller to explain the cooperative’s activities; request the board of directors, supervisory board or controller to convene an extraordinary general meeting of members according to the provisions of this Law and the charter.

– Be provided with necessary information related to the cooperative’s activities; receive support for training, fostering and improving professional qualifications to serve the cooperative’s activities.

– Leave the cooperative according to the provisions of the charter.

– Contributed capital will be returned when leaving the cooperative according to the provisions of this Law and the charter.

– To be divided in the remaining value of the cooperative’s divided assets according to the provisions of this Law and the charter.

– Complain, denounce and sue according to the provisions of law.

– Other rights according to the provisions of the charter.

3. In what cases is a cooperative member’s membership terminated?

Cooperative members have their membership status terminated in the cases specified in Clause 1, Article 16 of the 2012 Cooperative Law as follows:

Termination of membership and member cooperative status

1. Membership status and member cooperatives are terminated when one of the following cases occurs:

a) A member who is an individual dies, is declared by the Court to be dead, missing, has limited or lost civil act capacity or is sentenced to imprisonment according to the provisions of law;

b) Household members do not have a legal representative as prescribed by law; members are legal entities that are dissolved or bankrupt; Member cooperatives of cooperative unions are dissolved or bankrupt;

c) Cooperatives and unions of cooperatives are dissolved or bankrupt;

d) Members and member cooperatives voluntarily leave the cooperatives and unions of cooperatives;

d) Members and member cooperatives are expelled according to the provisions of the charter;

e) Members and member cooperatives do not use products or services for a continuous period of time as prescribed by the charter but not more than 03 years. For job creation cooperatives, members do not work continuously for a period of time as prescribed by the charter but not more than 02 years;

g) At the time of commitment to fully contribute capital, members and member cooperatives do not contribute capital or contribute capital lower than the minimum capital prescribed in the charter;

h) Other cases prescribed by the charter.

…

Thus, a cooperative member’s membership status will be terminated in the following cases:

– The individual member dies, is declared by the Court to be dead, missing, has limited or lost civil act capacity, or is sentenced to imprisonment according to the provisions of law law.

– The member is a household without a legal representative as prescribed by law; members are legal entities that are dissolved or bankrupt.

– The cooperative is dissolved or bankrupt.

– The member voluntarily leaves the cooperative.

– The member is expelled according to the provisions of the charter.

– The member does not use products or services for a continuous period of time according to the provisions of the charter. but not more than 3 years. For job creation cooperatives, members do not work continuously for a period of time according to the provisions of the charter but not more than 02 years.

– At the time of commitment to fully contribute capital, members do not contribute capital or contribute capital lower than the minimum capital prescribed in the charter.

– Other cases prescribed by the charter.