Law of the Republic of Azerbaijan about Credit Unions

Azerbaijan

(amended through 2001)

Law of the Republic of Azerbaijan about Credit Unions determines the economic, legislative and organizational bases for the creation and operation of credit unions in Azerbaijan. The law is organized as follows:

  • General Concepts:
    • Activities of credit unions;
    • Legislation;
    • Requirements of credit unions;
    • Rights and obligations;
    • Relationship with government;
  • Creation and membership:
    • Creation;
    • Charter;
    • Membership;
    • Rights, obligations and responsibilities;
  • Management;
  • Foundation:
    • Chartered capital;
    • Reserve fund;
    • Mutual credit fund;
  • Annulment and reconstruction:
    • Liquidation;
    • Reconstruction; and
    • Dispute Settlement.