Law No. LP50/2021 “On local initiative groups.”

The purpose of this Law is to create a legal basis for the establishment and functioning of local initiative groups. This Law regulates the procedure for the establishment, operation, reorganization and liquidation of local initiative groups. Local initiative groups shall be intended unprofitable, non-political association with the status of a legal entity, which is created for the purpose of developing and implementation of local development strategies based on established at the local level between public, business and civil sectors of territorial partnership, in which none of these sectors can own more than 49 percent of voting rights at the decision-making level. Local initiative groups shall be constituted on voluntary basis and have the status of legal entity. The scope of local initiative groups shall be definition of a rural area consisting of adjacent residential areas related by social, economic and natural features, characterized by local identity, common traditions, needs and prospects within which the local development strategy is being implemented, and development and approval of a local development strategy. This Law consists of VI Sections divided into 39 Articles. Section I lays down general provisions. Section II regards membership and establishment. Section III regards governing bodies. Section IV regards internal financial management. Section V regards monitoring and control. Section VI lays down conclusive and transitional provisions.