An important innovation in connection with housing & construction cooperatives


December 8, Fineko/ A new rule on membership in housing and construction cooperatives is being established.

ABC.AZ reports that in this regard, it is proposed to amend the Housing Code.

According to the amendment, transactions related to the alienation of the share of a member of a housing and construction cooperative must be notarized.

The current Code does not provide for such a requirement.
The draft amendments were considered on December 7 at a joint meeting of the Milli Majlis Committees on defense, security and anti-corruption, economic policy, industry and entrepreneurship, and recommended for consideration at the plenary session.