Law on Credit Unions (Law No. 2908-III of 2001)

Ukraine

(amended through 2005)

The Law on Credit Unions (Law No. 2908-III of 2001) defines organizational, legal and economic grounds for establishment and operation of credit unions in Ukraine and their associations, and the rights and liabilities of members of credit unions and their associations.

This law defines credit unions, lays down the basic principles of credit unions and includes provisions related to:

  • Organizational principles, development agenda and termination of credit unions;
  • The rights and responsibilities of credit unions;
  • Governance of credit unions;
  • Economic fundamentals of credit unions;
  • Association of credit unions;
  • State regulation and oversight of credit unions; and
  • Responsibility on credit unions for violation of law.

An official English summary of this law can be found at http://zakon.rada.gov.ua/cgi-bin/laws/anot.cgi?nreg=2908-14.