Conditions for being a members of the Board of Directors, members of the Control Board, controller or Director of a cooperative or union of cooperatives in Vietnam

Organizational structure of cooperatives and unions of cooperatives
Pursuant to Article 29 of the Law on Cooperatives 2012, the organizational structure of cooperatives and unions of cooperativess consists of a general meeting of members, a board of directors (BOD), a director (general director) and a supervisory board (BOS) or controller.

To become a member of the Board of Directors, Supervisory Board or controller, director of cooperatives and unions of cooperatives, it is necessary to meet the conditions prescribed by law.

Conditions for being a members of the Board of Directors, members of the Control Board, controller or Director of a cooperative or union of cooperatives in Vietnam (Internet image)

Conditions for being a member of the Board of Directors of a cooperative or union of cooperatives in Vietnam

- A member of the Board of Directors of a cooperative must meet the following conditions:

= Being a member of the cooperative;

= Not being concurrently a member of the Control Board or controller, chief accountant or treasurer of the same cooperative and not being a blood parent, adoptive parent, spouse, child, adopted child or blood sibling of a member of the Board of Directors or Control Board or controller;

= Other conditions as specified by the charter of the cooperative.

- A member of the Board of Directors of a union of cooperatives must meet the following conditions:

= Being a lawful representative of a member cooperative;

= Not being concurrently a member of the Control Board or controller, chief accountant or treasurer of the same union and not being a blood parent, adoptive parent, spouse, child, adopted child or blood sibling of a member of the Board of Directors, Control Board or controller;

= Other conditions as specified by the charter of the union of cooperatives.

Pursuant to: Clauses 1 and 2, Article 40 of the Cooperative Law 2012

Conditions for being a member of the Control Board, controller of a cooperative or union of cooperatives in Vietnam

- The controller or a member of the Control Board of a cooperative must meet the following conditions:

= Being a member of the cooperative;

= Not being concurrently a member of the Board of Directors, Director (General Director), chief accountant or treasurer of the same cooperative and not being a blood parent, adoptive parent, spouse, child, adopted child or blood sibling of a member of the Board of Directors or the Control Board;

= Other conditions as specified by the charter of the cooperative.

- The controller or a member of the Control Board of a union of cooperatives must meet the following conditions:

= Being a lawful representative of a member cooperative as prescribed in Clause 2, Article 13 of the Cooperative Law 2012;

= Not being concurrently a member of the Board of Directors, Director (General Director), chief accountant or treasurer of the same union of cooperatives and not being a blood parent, adoptive parent, spouse, child, adopted child or blood sibling of a member of the Board of Directors and another member of the Control Board;

= Other conditions as prescribed by the charter of the union of cooperatives.

Pursuant to: Clauses 3 and 4, Article 40 of the Cooperative Law 2012.

Conditions for being a director of a cooperative or union of cooperatives in Vietnam

The Director (General Director) must meet the following conditions as prescribed by law and the charter.

Pursuant to: Clause 5, Article 40 of the Cooperative Law 2012.

Cases not allowed to be a members of the Board of Directors, members of the Control Board, controller or Director (General Director) of a cooperative or union of cooperatives in Vietnam

The following persons must not be members of the Board of Directors, members of the Control Board, controller or Director (General Director) of a cooperative or union of cooperatives.

- Serving a prison sentence or being banned by the court from conducting business;

- Having been convicted of a crime against national security, ownership or economic management and having not yet had such criminal record remitted;

- Other cases as prescribed by law and the charter.

Pursuant to: Clause 6, Article 40 of the Cooperative Law 2012

Mai Thanh Loi

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