Amendment of the Cooperative's Charter: How Many Delegates Are Required for Approval?
According to Clause 1, Article 34 of the Law on Cooperatives 2012, the following contents are approved by the General Assembly of members when at least 75% of the total number of delegates present vote in favor:
- Amendments and supplements to the charter;
- Division, separation, merger, consolidation, dissolution, and bankruptcy of cooperatives, cooperative unions;
- Investment or sale of assets valued at 50% or more of the total asset value recorded in the most recent financial report of the cooperative or cooperative union.
Therefore, for amendments and supplements to the cooperative's charter, at least 75% of the total number of delegates present must vote in favor to proceed.
Sincerely!
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