Registration of association of proprietors

The main information on the registration of this type of legal form:

• Association of proprietors is a union of the owners of inhabited and uninhabited spaces, created with the purpose of provision of security and keeping of real estate of joint housing, and usage of this estate;
• Association of proprietors is non-commercial organization;
• Association of proprietors must consist of two and more participants
• Authorized fund isn’t formed
• Founders of association of proprietors simultaneously are the participants of this association.
• Both legal entity and individual person can be participant of association of proprietors;
• A certain building both inhabited and uninhabited can be legal address of association;
• The superior authority of association is general meeting. The executive body of association is its board of administration. Quantitative composition of board of administration is defined by the general meeting. Participants of board of administration elect from its composition a chairman for a period of association activity. The chairman can also be elected by the general meeting.
• The property of association is formed at the expense of admission fee, payments of participants of association and profit from its economical activity. Profit received by association of proprietors in the result f its economical activity can be used for association’s aims.