Law No. 1007-XV on production cooperatives.

This Law regulates inter alia the activity of agricultural cooperatives. Agricultural production cooperative shall be recognized as such if no less than 50 percent of its annual production output is constituted by agricultural commodities. It establishes that a member of agricultural cooperative can make contribution to the authorized capital stock in the form of a plot of agricultural land with transfer of the ownership certificate. Agricultural cooperative shall be authorized to use agricultural land plots of its members in accordance with lease contract.Any amendments and modifications to the statute of the cooperative shall be deemed effective with the provisions the day of their state registration in the manner prescribed by law. When entering into the charter capital of a real estate cooperative transferred against the value shares of property of agricultural enterprises, changes in the statute of the cooperative are not mandatory. A cooperative may conduct its activities only after state registration in accordance with the law. It is prohibited to establish any preferential rights for cooperative members. Agricultural land with the transfer of the property document cannot be pledged as a share deposit. Any member of the cooperative can only own one share.