The Law on Cooperatives regulates the legal status of cooperatives, their establishment, management and bodies of cooperatives, acquisition and termination of the status of cooperatives, book of cooperatives, property and operations of cooperatives, funds, distribution of profits and coverage of losses in cooperatives, termination of cooperatives, alliances of cooperatives, complex cooperatives, cooperative registration, cooperative audit, as well as other issues vital for the position and work of the cooperative.
The provisions of the Law governing the legal status of limited liability companies shall apply accordingly to all matters related to cooperatives, which are not explicitly regulated by the Law on Cooperatives.
The concept of cooperative and cooperative members
A cooperative is a legal entity representing a unique form of organization of natural persons (from now on: cooperative) who realize their economic, social, cultural and other interests by operating on cooperative principles and managing and controlling the cooperative business. Continue reading Establishment of a cooperative
The provisions of the Companies Act (“Off. Herald of RS”, Nos. 36/2011, 99/2011, 83/2014 – other law, 5/2015, 44/2018 and 95/2018) regulated the implementation procedure of status changes of the division and the spin-off.
Status change division and spin-off may involve one or several companies of the same or different legal form. They may not apply to a company in liquidation or bankruptcy unless the status change is conducted to measure reorganization following the bankruptcy act.
A company may divide by simultaneously transferring all of its assets and obligations to:
- Two or more newly incorporated companies (the division by incorporation) or
- Two or more existing companies (the division by acquisition) or
- One or more newly incorporated companies and one or more existing companies (the mixed division).
Continue reading Company’s division plan
Provisions of the Companies Act shall regulate concept and types of status changes, as well as procedures for conducting status changes, registration, and legal consequences of registration of status changes.
A company in a status change – the transferring company reorganizes itself to the effect that it transfers assets and obligations to another company – the recipient company, while its members acquire shares, i.e. stocks in that company.
The acquisition represents a type of status change.
One or more companies may be acquired by another company by transferring all assets and obligations to that company, whereby the acquired company dissolves without undergoing liquidation procedure. Continue reading Decision on the acquisition of company and its legal effect