In what forms is the cooperative’s member congress held?Can the Board of Directors convene an extraordinary general meeting of members at the request of the controller? 

1. In what forms is the cooperative’s member congress held?

The cooperative’s member congress is held in the forms specified in Article 30 of the 2012 Cooperative Law as follows:

Member congress

1. The general meeting of members has the highest decision-making authority of cooperatives and unions of cooperatives. The membership congress includes the annual membership congress and extraordinary membership congress. The members’ congress is held in the form of a general meeting or a representative congress (hereinafter collectively referred to as the members’ congress). The Members’ Congress has rights and duties as prescribed in Article 32 of this Law.

2. Cooperatives and unions of cooperatives with 100 members and cooperatives with members or more can organize member congresses.

3. Delegate standards and order and procedures for electing delegates to attend member congresses are prescribed by the charter.

4. The number of delegates attending the member congress is determined by the charter but must ensure:

a) Not less than 30% of the total number of members and member cooperatives for cooperatives and cooperative unions with from over 100 to 300 members and member cooperatives;

b) Not less than 20% of the total number of members and member cooperatives for cooperatives and cooperative unions with from over 300 to 1000 members and member cooperatives;

c) There must not be less than 200 delegates for cooperatives, unions of cooperatives with over 1,000 members, and member cooperatives.

5. Delegates attending the member congress must express their opinions and aspirations and are responsible for informing all members and member cooperatives that they represent about the results of the congress.

Thus, according to the law, the cooperative’s member congress is held in two forms: general congress or representative congress.

2. Can the cooperative board of directors convene an extraordinary general meeting of members at the request of the controller?

Can the cooperative board of directors convene an extraordinary general meeting of members at the request of the controller as stipulated in Article 31 of the 2012 Cooperative Law as follows:

Convene a general meeting of members

1. The annual general meeting of members must be held within 03 months from the end of the fiscal year convened by the board of directors.

The extraordinary general meeting of members is convened by the board of directors, supervisory board or controller or representative members of at least one-third of the total number of members and member cooperatives according to the provisions of Clauses 2, 3 and 4 of this Article.

2. The Board of Directors convenes an extraordinary general meeting of members in the following cases:

a) Resolve issues beyond the authority of the board of directors;

b) The Board of Directors fails to hold a regular meeting after two convenings;

c) At the request of the supervisory board or controller;

d) At the request of at least one-third of the total number of members and member cooperatives.

Within 15 days from the date of receiving the request of the supervisory board or controller or the request of at least one-third of the total number of members and member cooperatives, the board of directors must convene an extraordinary general meeting of members.

Thus, according to the law, the board of directors can convene an extraordinary general meeting of members at the request of the controller.

3. Can the general meeting of members decide to sell 60% of the total value of assets recorded in the most recent financial report?

Can the General Meeting of Members decide to sell 60% of the total value of assets recorded in the most recent financial report as stipulated in Article 32 of the 2012 Cooperative Law as follows:

Powers and duties of the general meeting of members

The general meeting of members decides on the following contents:

1. Approve the report on operating results for the year; report on the activities of the board of directors and the supervisory board or controllers;

2. Approve financial reports and internal audit results;

3. Plan for income distribution and handling of losses and debts; establishment and rate of appropriation of funds; Salary and income plans for employees for job creation cooperatives;

4. Production and business plan;

5. Invest or sell assets with a value equal to or greater than 50% of the total asset value recorded in the most recent financial report;

6. Contribute capital, buy shares, establish businesses, joint ventures, associations; establish branches and representative offices; participating in cooperative unions, representative organizations of cooperatives, unions of cooperatives;

According to the provisions of law, the general meeting of members has the right to decide on the content of investment or sale of assets with a value equal to or greater than 50% of the total value of assets recorded in the most recent financial report.

Thus, the general meeting of members has the right to decide on the sale of 60% of the total value of assets. recorded in the most recent financial statements