The termination of the credit cooperative

Reorganization credit cooperative.
Reorganization Credit Cooperative (merger, division, separation, transformation) by a decision of the general meeting of the credit cooperative in accordance with its charter and federal laws.
Credit Cooperative is reorganized from the date of state registration of the new legal entities, except merger. When reorganizing credit cooperative in the form of merger with another credit cooperative, the first one is reorganized from the moment of entry into the Unified State Register of Legal Entities about the termination of activity of a credit cooperative.
The state registration of the newly created as a result of reorganization of the credit cooperatives and making the Unified State Register of Legal Entities on the termination of the restructured credit cooperatives shall follow the procedure established by federal law on state registration of legal entities.
Elimination of credit cooperative.
Credit cooperative may be dissolved by:
- The decision of the general meeting of the credit cooperative;
- Expiry of the term for which he was in compliance with the statute was created;
- A court in accordance with the laws of the Federation.
After the decision to eliminate credit cooperative, its members are to fulfill their obligations to the credit cooperative in the terms established by the general meeting of the credit cooperative.
Elimination of credit cooperative and satisfaction of creditors' claims are made in accordance with the laws of the Federation.
Remaining after satisfaction of creditors' claims credit cooperative shall be distributed among its members in proportion to their mutual savings.
Elimination of credit cooperative is completed, and credit cooperative - ceased to exist after the introduction of this in the Unified State Register of Legal Entities.