Cooperatives

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A cooperative (SA) is an association which has the principal purpose of promoting the financial interests of its members through them purchasing or offering the organisation's goods or services.

The organisation’s return, apart from a normal return on contributed capital, will either remain within the organisation or be distributed amongst the members on the basis of their respective shares in the sales. Examples of cooperatives: Coop, TINE, Nortura and Felleskjøpet.

None of the members has any personal liability with regard to the enterprise’s obligations.

The Cooperatives Act sets out requirements concerning the minimum content of the founding document and the articles of association. A cooperative must always be founded by at least two people and have at least two members. Both natural and legal persons may be founders.

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