Law on Cooperatives.

This Law makes provision for the legal structure of cooperatives operating in all sectors of the national economy, regulates their organization in Unions and Federations, and defines their role in the economic development of Viet Nam.
The text of this Law consists of 56 articles which are divided into 10 Chapters: General provisions (I); establishment and business registration (II); The Cooperative member (III); Organization and management of the cooperative (IV); Properties and finance of the cooperative (V); Merger, splitting, dissolution, bankruptcy of the cooperative (VI); The Union of Cooperatives and Federation of Cooperatives (VII); The State Management of Cooperatives (VIIII); Commendation and handling of violations (IX); Implementation provision (X).
Article 1 gives a definition of “cooperative”, whereas article 2 defines a “cooperative group”. Other definitions are to be found in article 6. Article 4 provides for the issuing by the Government of a mandatory model statute for agricultural and other cooperatives. Principles, rights and obligations of cooperatives are set out in articles 7, 8 and 9 respectively. Chapter II provides for foundation and registration of Cooperatives. Chapter III specifies conditions of membership. Each cooperative shall have a Managing Board and a Control Board (Chapter IV). Cooperatives may in join in a Union pursuant to article 48, and cooperatives and Unions of cooperatives may establish federations in accordance with article 49. Chapter VIII defines tasks of State authorities at various levels with respect to management and control of cooperatives.