Dealing with a conflict of interest
Dealing with a conflict of interest — a transaction of the cooperative, the other party to which is the chairman of the cooperative or the executive director of the cooperative, members of the board of directors of the cooperative or the supervisory board of the cooperative, their spouses and close relatives, or owners of shares whose size exceeds 10 percent of the share fund of the cooperative1.
Dealing with a conflict of interest — a transaction in which at least 10 percent of the members of the cooperative or at least 20 percent of the associated members of the cooperative, according to their written statements, perceive an interest of the aforementioned persons that does not coincide with the legitimate property interests of the cooperative2.
Federal Law No. 193-FZ of December 8, 1995 "On Agricultural Cooperation", as amended on January 1, 2019, Article 38, paragraph 4 // Official Gazette of the Russian Federation. 1995. No. 50. Item 4870. ↩
Federal Law No. 73-FZ of June 11, 2003, "On Amending and Supplementing Federal Law 'On Agricultural Cooperatives' dated June 11, 2003, as amended on June 11, 2003, Article 1, paragraph 4#4 // Official Gazette of the Russian Federation. 2003. No. 24. Article 2248. ↩