Q2-2010 Amendment to Cooperative Law

The Cooperative Law was amended on 13 June 2010. For cooperatives having more than 500 shareholders, the appointment of auditors and members of the board of directors shall be decided by secret ballot with open counting during General Assembly meetings. Moreover, the related ministry is empowered to authorize controllers to supervise transactions, accounts and assets of cooperatives, cooperative unions, cooperative centre unions and Turkish National Cooperations Union.

 

 

Pekin Pekin