The cooperative association
The cooperative association is codified in the Act on Cooperative Associations. The cooperative association is the association of individuals by which the commencement and the resignation of the members is allowed and has the purpose to improve the tangible interest of her members, by joint effort of their craft or by acquisition of their necessities or by payment of advance or provided credit.
The deed of incorporation is to be made up by a civil law notary, is to contain the articles of association and is subject to nullity on the condition that the notarial deed is stated in Dutch. If the State of Suriname is the (co-) founder of the cooperative association no notarial deed is required. The notarial deed must contain the name of the cooperative association. Pursuant to Surinamese law the name of the cooperative association must:
- contain the word coöperatief;
- describes the nature of its tasks; and
- show the form of liability of its members
If the articles of association do not contain a provision on the liability of its member, all members are equally liable for obligations of the association and the name of the association must contain the letters ‘W.A.’ which stands for Wettelijke Aansprakelijkheid (statutory liability). If the articles of association contain a provision by which the liability of the members is limited to a certain amount the name of the association must contain the letters ‘B.A.’ which stands for Beperkte Aansprakelijkheid (limited liability). If the articles of association contain a provision by which the liability of the members is excluded the name of the association must contain the letters ‘U.A.’ which stands for Uitgesloten Aansprakelijkheid (excluded liability).
The Act on Cooperative Associations stipulates that the cooperative association shall not commence before the President has consulted the Council of the Cooperative Associations and has declared that are no objections against the establishment of the Cooperative Association.
- Suriname Business Forum (executive body in accordance with the Law Suriname Business Forum 2006 for monitoring the national strategy for development of the private sector in Suriname)
- VSB (Suriname Trade & Industry Association/Vereniging Suriname Bedrijfsleven)
- ASFA ( Association of Surinamese Manufacturers/Associatie van Surinaamse Fabrikanten
- AVA (General Contractors Association/Algemene Aannemers Vereniging)
- Akmos (Association for small and medium size businesses in Suriname/Associatie van Kleine en Middelgrote Ondernemingen in Suriname)