Uniform act on cooperative societies

This uniform act (AUSCOOP) provides a common framework for cooperative societies in OHADA member states. In force since 15 May 2011, it answers cooperators' demand for rules of their own, separate from those for commercial companies. It rests on cooperative principles: voluntary and open membership, democratic member control, members' economic participation, autonomy, education and training, cooperation among cooperatives and concern for the community. It offers two forms: the simplified cooperative and the cooperative with a board of directors, each with its own governing bodies. It also covers registration in the cooperative register, unions and federations, and dissolution. In Gabon it is especially relevant to groups of farmers, fishers and artisans.