Federal Law “On Housing and Construction Cooperatives. Federal Law "On Housing Savings Cooperatives" How shares are paid

Some of the most important questions that interest buyers of new buildings: Is it possible to buy this new building? Is it profitable to invest money in a specific residential complex? Are the buyer's rights protected?
In response, you can always hear from a representative of the developer: Of course, construction is being carried out in accordance with Federal Law 214, and not 215. And everyone nods their head in the affirmative, but in fact, is it clear exactly how Federal Law No. 214 protects the buyer? What is its difference from Federal Law No. 215?
Federal Law No. 214- this is a law on participation in shared construction, replaced from July 1, 2019 by the concept of project construction apartment buildings and other real estate objects, Federal Law No. 215- this is the law on housing savings cooperatives. Their distinctive features follow from this:

Previously, Federal Law 214 was formalized as a share participation agreement; from July 1, 2019, developers will be able to attract citizens’ money only to special accounts in authorized banks. That is, the client will pay for the construction of his apartment not to the developer, but to the bank. The funds will be held in special escrow accounts until the construction of the facility is completed and the house is put into operation.
Besides this, construction company must have equity in the amount of at least 10% of the total project cost building a house. At the same time, the opportunity to buy an apartment at the initial stage of construction will remain the same.
Construction companies will invest in construction or own funds, or loans taken from banks.
These changes will minimize the risks of citizens from losing client funds. In turn, after completion of construction, the buyer is obliged to accept the apartment in accordance with the inspection report.

Federal Law-214 strictly stipulates the deadline, the period according to which the developer is obliged to transfer the construction project, a specific object is defined project construction, subject to transfer as property, the price, the deadline for its payment, the warranty period for the construction project;

Federal Law 215 provides for membership in a cooperative, thus establishing the relationship between the housing cooperative and its participants. Joining a housing cooperative is determined by the charter of the housing cooperative itself and the Housing Code of the Russian Federation, but not by Federal Law 215. You can become a participant in the housing cooperative after submitting an application to the housing cooperative and paying the entrance fee membership fee and the first share payment. In this case, information about the participant is transferred to the state register legal entities.
Participants in a housing construction cooperative may have obligations under the charter, for example, this may be an obligation to pay membership and entrance fees (in addition to shares). Therefore, it is necessary to carefully study the charter and all constituent documents Housing cooperative, as well as what is the procedure and amount of contributions to be paid and the payment schedule itself, etc.

What specific provisions of Law No. 214 protect the participant in construction project financing?

The bank in whose account citizens' funds will be placed will control and have the right to refuse operations related to misappropriation of funds. Other monetary transactions for the construction of an object outside the framework of the law on shared construction will be prohibited.

According to Article 12.1 of Federal Law No. 214, the developer’s obligations must be ensured in one of the following ways:
1) According to Articles 13-15 of Federal Law No. 214, a pledge,
2) According to Article 15.1 of Federal Law No. 214, a guarantee
3) Liability insurance in case of bankruptcy, or bank guarantee, for failure to fulfill the obligation to transfer the object.

What does a participant in an equity participation agreement receive from these methods of securing obligations?
1) return of money contributed by the participant under the equity participation agreement or by virtue of Law No. 214,
2) payment of losses, penalties, fines, penalties that are due to a participant in shared construction for late delivery of a property or improper fulfillment of obligations by the developer to transfer rights to the property, as well as all payments provided to him by the contract and (or) federal laws.

Concluding an agreement for the purchase of an apartment under Federal Law-215 means that the future member of the cooperative wants to acquire housing by becoming a member of the cooperative and investing his funds.
This form of agreement is completely legal and more attractive in cost. This is due to lack of insurance cash, payment of VAT, the opportunity to hire less expensive contractors (who agree to work for cash).
When buying an apartment under Federal Law-215, you can use both maternity capital and take out a mortgage. Houses are usually low-rise and built quickly.
But there are significantly more risks when purchasing - from the lack of insurance to the impossibility of putting the object into operation.
For housing cooperative participants, return of invested money is possible only upon leaving the cooperative. The housing cooperative can return them only if the necessary funds are available in the account. If there is no money there, payment is impossible. All legal issues are decided only according to the charter of the cooperative.

Buying a new building in Krasnodar is not a problem. There is a lot of housing being built here, of different designs, sizes and quality, and in almost all areas. In Krasnodar, the construction of new buildings is carried out in accordance with federal law 214-FZ or 215-FZ. Let's look at what these laws are, which one is better, and how to minimize risks.

Before you give your hard-earned money for a new apartment, it is better to study the laws under which the transaction is carried out. After all, this is not a typical purchase and sale, since the subject of purchase does not actually exist yet. Sometimes, instead of an apartment, there is only a cleared site for construction or one foundation.

And now you, having paid the requested amount, are forced to languish while waiting for the “right of claim” to turn into a finished apartment.

New buildings under 215-FZ

Purchasing a new building through a housing construction cooperative (HBC) is a fairly common way of purchasing housing on the primary market of Krasnodar and Adygea. This form of purchasing real estate is completely legal. Housing cooperatives are not a sharashkin's office and often houses are built quickly and well. Housing cooperative system in Krasnodar region has been around for over 20 years. But buyers are protected by the state less than when purchasing housing under 214-FZ. I'll explain why below.

Pros of 215-FZ

• 1. The main advantage is that the cost of the apartment is lower than the same one purchased under 214-FZ. This is due to the fact that housing cooperatives do not have compulsory insurance new buildings and contributions are not subject to VAT.
• 2. It is possible to use maternity capital and mortgages.
• 3. Despite the fact that there is no compulsory insurance, the buyer can independently insure the transaction with the insurance company of his choice.

Disadvantages and risks of 215-FZ

• 1. There is no penalty for missed deadlines for delivery of housing to housing cooperatives. That is, you can plan to move into a brand new apartment this fall, but in reality you will get your home in two years, and no one will pay you a penalty. Or maybe everything will be built on time. No one can tell you for sure, and you take the risks on yourself.
• 2. If you terminate the contract with the housing cooperative and file a lawsuit, this does not guarantee the return of your money. The housing cooperative pays money only if it has funds in its account. No funds - no payments.
• 3. The Law “On the Protection of Consumer Rights” does not apply to facilities built in accordance with 215-FZ.

New buildings under 214-FZ

According to Law 214, the buyer enters into a contract with the developer or his representative Share Participation Agreement(DDU). Today this is the most secure way to purchase a new building. From the very beginning, the buyer is under the protection of the state, since even before the developer has the opportunity to enter into a DDU, he must assemble a package necessary documents. This includes a certificate of ownership or a long-term lease agreement for land, a construction permit, and an expert opinion. project documentation and many other documents. But they are not distributed right and left.

Pros of 214-FZ

• 1. The text of the agreement contains all the obligations of the parties to each other - terms, amounts, footage; the agreement clearly defines not only the area, but also the apartment number. That is, you are not purchasing just some square meters, but a specific apartment. According to 214-FZ, at the moment of signing the DDU, the shareholder automatically becomes a mortgagee, while the collateral on the part of the developer is the land on which the residential building is being built.
• 2. For failure to comply with the deadlines for delivery of the object specified in the shared construction agreement, the developer bears financial responsibility. In case of violation of deadlines, the buyer has the right to force the developer to pay compensation through the court.
• 3. 214-FZ forces the developer to perform high-quality work; each object is covered by a five-year warranty, the obligations under which are covered by the developer.

Cons of 214-FZ

Are there any disadvantages to 214-FZ? Alas, there is. There are no perfect laws and no one can get a 100% guarantee.

• 1. No law can guarantee that the house will be completed and the buyer will receive his apartment. The developer may encounter circumstances beyond his control that prevent him from completing construction. In this case, the buyer will return only part of his money, but not the entire amount invested. The fact is that, according to Federal Law 214-FZ, when a developer goes bankrupt, the equity holder becomes a third-priority creditor - first, the wage demands of construction workers, the demands of banks, etc. are satisfied.
• 2. Prices for apartments built under 214-FZ are usually higher than under other types of agreements - under agreement 215-FZ or from a private developer.

So, before you give money, carefully read the contracts, look at all the documents, find out reviews, look at ready-made objects. Take your time and stay as safe as possible.

Federal Law-215 regulates relations that arise as a result of activities in housing construction memberships. A participant in a housing cooperative has the right to transfer his share to a third party or bequeath it close relative. Main responsibility participants of the housing cooperative is compliance with the established rules.

Federal law No. 215 was adopted on December 22, 2004 by the State Duma of the Russian Federation. The legislative act was approved on December 24 of the same year. The Federal Law “On Housing Savings Cooperatives” came into force on December 30, 2004.

Federal Law-215 defines the legal, economic and organizational basis for the activities of housing savings cooperatives.

The law states:

• rights and obligations of members of funded housing cooperatives;
• the order of their creation;
• reorganization and liquidation of housing cooperatives;
• the procedure for carrying out activities to attract and use funds in housing savings cooperatives.

The accumulative housing cooperative has the right to carry out only the activities prescribed in this law. According to Federal Law-215 housing cooperative is created without limitation of term of activity. It must be liable for all its obligations and property belonging to it, but it is not liable for the obligations of its members.

The requirements for the relationship between a housing cooperative and its members are specified in the Civil Code of the Russian Federation, this Federal Law, regulations Central Bank and other legal documents. According to the provisions of Federal Law-215, housing cooperative has the right to open Russian bank accounts.

A housing cooperative must maintain a register of each member.

The register must contain:

• Full name of the housing cooperative member;
• ID card or other document confirming the identity of a community member;
• telephone number, postal address, e-mail of the person joining the community;
• form of participation;
• other information provided for by the charter of the housing cooperative.

Number members of a housing cooperative should be exactly 50 , no more and no less than this figure.

Download Federal Law 215 on housing savings cooperatives in the new edition

The Federal Law “On Housing Savings Cooperatives” includes 6 chapters and 58 articles. According to the articles of the law, any citizen who has reached the age of 16 can become a member of the cooperative. To become a full member, a citizen must write an application and on its basis he will be accepted into the community.

To familiarize yourself with Federal Law-215 with changes for 2017, download it from.

Changes in the law on housing cooperatives

The last changes to Federal Law-214 were made on July 3, 2016. The amendments affected : ch 3 st 14, p 1 ch 1 st 17, p 2 ch 1 st 20, p 3 st 20, ch 6 st 27, p 5 ch 2 st 48, p 4 ch 1 st 51, p 8 ch 1 st 51 .

With the last amendment to FZ-214, the law included excluded: p 2 and p 3 ch 4 st 56, ch 2 st 58, p 1 ch 5 st 56 and ch 2 st 56.

Part 3 Article 14 was supplemented by the sentence “established by the Federal Law of July 13, 2015 N 223-FZ “On self-regulatory organizations in the field financial market“requirements for mandatory membership in a self-regulatory organization in the financial market that unites housing savings cooperatives.”

Clause 1 of part 1 of article 17 was supplemented with information on a self-regulatory organization in the financial market, which unites housing savings cooperatives.

IN Clause 2, Part 1, Article 20

Part 3 Article 20 was set out in new edition. After the latest amendments it looks like this: annual reporting activities of the cooperative must be submitted to the bank.

IN Part 6 Article 27 The same information was added as in paragraph 1 of part 1 of article 17.

IN Clause 5 of part 2 of article 48 a restriction related to the activities of cooperatives was added.

From Clause 4 Part 1 Article 51 The words “and about self-regulatory organizations of housing savings cooperatives” were excluded.

IN Clause 8 of Part 1 of Article 51 the rights of banks in monitoring the activities of housing associations were added.

Below are articles that were not changed during the last revision, but are important.

Article 6

Article 6 stipulates the responsibility of members of the housing cooperative. It includes:

• a member of a cooperative is liable to it in accordance with the provisions provided for by this law;
• members of the housing cooperative bear losses and risks associated with the activities of the community;
• community members are responsible in case of non-compliance with the rules and regulations prescribed in the regulations.

Article 7

Article 7 indicates rights members of the housing cooperative:

• participate in management and be elected to its bodies;
• use all services provided;
• choose a form of participation in its activities;
• receive housing for use from the cooperative in the manner prescribed by Federal Law-215;
• enjoy the provided benefits;
• participate in income distribution;
• bequeath a share;
• transfer a share to a third party and others.

Article 8

Article 8 regulates responsibilities members of the housing cooperative:

• compliance with the charter;
• timely payment of contributions and fees for shares;
• do not interfere with the activities of other participants;
• perform other duties provided for by this law.

Article 9

Article 9 describes the moments when it is possible termination of membership in housing cooperatives:

• voluntary care;
• exclusion without the will of the participant;
• transfer of a share to a third party;
• foreclosure for shares and others.

Article 10

A participant in a housing cooperative may be excluded from the partnership forcibly, if:

• he repeatedly failed to fulfill his duties;
• violated discipline;
• did not pay contributions and payments for his share on time.

An exception can also be made through the court.

Article 11

Article 11 describes housing cooperative charter and its components:

• name and location;
• subject and goals of activity;
• procedure for admission to cooperative membership;
• the procedure for determining the size, composition and procedure for making shares and other contributions;
• liability for violation of order;
• rights and obligations of members of membership;
• funds created by a cooperative and others.

Article 16

Article 16 describes rights of housing cooperatives:

• use raised funds from people to purchase housing;
• invest money in the construction of residential premises, as well as participate in the construction of residential premises as a developer or participant in shared construction;
• purchase residential buildings;
• attract borrowed money in the case provided for in Part 3 of Article 47 of this Federal Law.

Article 33

Housing cooperative bodies:

• general meeting all its participants;
• board;
• auditor;
• executive bodies.

Their activities are regulated by the charter of the housing cooperative. The term of office of the board expires on voting day.

IN article 34 designated general provisions meetings of cooperative members. Each participant has only 1 vote. The board of the cooperative shall convene a meeting and call an extraordinary meeting.

To learn more about all the chapters of Federal Law-215, download it.

Buying a home is considered a specific and complex process for many people. Often they simply do not have the funds for such an acquisition. Under such conditions, people are often forced to take out a mortgage for a fairly long period of time at high interest rates. An excellent alternative is joining a housing and savings cooperative. This organization is created by citizens who want to build an apartment building or several similar buildings. Each investor transfers over a certain period the required amount of funds to purchase an apartment. Joining such a cooperative has many advantages, although the process is not without some disadvantages.

Benefits of cooperation

If a citizen chooses a housing cooperative to purchase a home, then he can enjoy truly numerous advantages. These include the following:

• contributions are much smaller than what you end up having to overpay on a mortgage loan, even with preferential lending;
• shareholders can choose an apartment in different buildings, not only in those located in the city, but also in buildings located in other populated areas;
• To join a cooperative, you do not need to prepare numerous documentation, which is necessary when applying for a large mortgage loan;
• the level of protection is considered high, so even if the cooperative various reasons will be declared bankrupt, the housing will be sold at specialized auctions, where shareholders can buy it back, taking into account previously transferred contributions;
• the flexibility of such cooperatives is considered high, since if for various reasons the financial situation of the shareholder worsens, so he will not be able to fully make contributions, then the management of the enterprise can help the citizen by selling him other real estate;
• additionally if it worsens financial condition the shareholder may increase the installment period;
• cooperatives do not turn to the Central Bank to receive borrowed funds, since exclusively the money of shareholders is used, therefore payments are established without taking into account the current size of the refinancing rate.

Thus, through such a cooperative, citizens can solve complex housing issues. But at the same time, it is important to competently approach the choice of the organization itself, so that it is reliable and proven.

Disadvantages of cooperation

Using the organization’s services has not only advantages. Some significant disadvantages stand out this process, therefore, buying housing through a cooperative has disadvantages:

• the selected residential property will become the property of the citizen only after all contributions have been fully transferred to him;
• if for some reason the financial situation of the shareholder worsens, so he cannot make the required payments, then he will not receive housing;
• To initially join an organization, it is necessary to pay an initial payment, and it is usually significant, therefore often even 50% of the cost of the selected object, but not all citizens can accumulate such an amount;
• It will take quite a long time to wait for the completion of construction and settlement in housing, and this process depends on how many shareholders join the cooperative.

You should choose large and developed organizations that are in demand among numerous shareholders.

ZhNK has significant pros and cons, so it is advisable to become a shareholder if you have a large amount of funds, as well as if you are confident that the chosen organization is reliable. Additionally, you need to pay a lot of attention to the choice of housing itself, since cooperatives usually offer several options.

Before joining a particular organization, you should research its reputation. It’s best to read reviews about housing and savings cooperatives from former shareholders to learn about all the pitfalls and features of cooperation.

Legislative regulation

The activities of such cooperatives are regulated at the legislative level. Basic information is contained in Federal Law No. 215. This law was adopted back in 2004. It states legal basis work of the enterprise, as well as economic and organizational aspects activities.

The most important information in Federal Law No. 215 is the following:

• the rights and responsibilities that are vested in all citizens who become members of the cooperative are given;
• the procedure and rules for opening an organization are indicated;
• the nuances of the liquidation of housing cooperatives and the reorganization of the institution are listed;
• it specifies how the activities of the cooperative should be conducted, as well as how the funds received from shareholders should be used.

All cooperatives must engage exclusively in the work prescribed by law. Housing and savings cooperatives are created for an indefinite period, so there is no information about restrictions on the period of their existence. The organization is responsible for its obligations with all the property that belongs to it, but the company is not responsible for the obligations of its participants. Based on the provisions of Federal Law No. 215, enterprises are allowed to open bank accounts. Additionally, there must be registers for each participant.

What is included in the register?

When a cooperative is opened, new shareholders are attracted. A special register is formed for each new participant. It must include information:

• Full name new member of the organization;
• information from a passport or other document used to verify a citizen’s identity;
• telephone number or other contact information;
• other information that is listed in the charter.

The main condition for creating a housing and savings cooperative is that the number of participants must be 50.

How is an organization registered?

The registration process for a cooperative is considered simple and quick. To do this, follow the following steps:

• Initially, it is necessary to collect the required number of participants of the future cooperative who want to get their own housing for permanent residence;
• a general meeting is held at which a decision is made to open a company;
• the protocol of such a decision is correctly formed, containing the decision of the participants;
• the charter of the future organization is formed;
• additional documents for registration are collected;
• the papers are submitted to the Federal Tax Service for registration, for which you will have to pay a fee;
• the relevant information is entered into the Unified State Register of Legal Entities.

As soon as registration is completed, the company begins its direct activities, aimed at creating apartments that are issued to shareholders after payment of the entire contribution. It is allowed to combine several small cooperatives into one large company.

How to create a charter?

The main constituent document of such an organization is the charter. It can be formed according to different patterns. The charter of a housing and savings cooperative must include information:

• name of the legal entity represented by the cooperative;
• type of activity of the enterprise;
• address of the company's location;
• ZhNK contact details;
• the size of the share initial contribution for all participants;
• responsibilities assigned to all members of the association;
• it is indicated that all citizens have subsidiary liability, therefore they are obliged to jointly cover all losses that arise during the operation of the enterprise.

You can choose different legal forms, for example, LLC or JSC. For this purpose, it is taken into account whether the activity is commercial or non-profit.

For-profit or non-profit cooperative?

Most frequently selected opening commercial organization. The board of the cooperative carries out activities with the aim of making a profit. All investors can use their financial resources, which are used for the construction of a residential property.

As soon as an apartment building is erected, an auction is opened at which residential premises are sold, which allows for partial reimbursement of all costs incurred. The lower floors are rented out, and this activity in most cases brings the highest profit. Additionally, parking lots or the area adjacent to the house can be subleased.

A non-profit housing and savings cooperative may also open. The work of such a company is not aimed at making a profit, so the main goal is to provide all participants with optimal living quarters. Through participation in such an association, the housing issue of citizens is resolved. Only people in need of housing become participants. They are usually the initiators of the creation of a cooperative, and therefore are represented by members of the board.

What to do after registration?

As soon as the registration certificate is received from the Federal Tax Service, it is required to additionally notify the Pension Fund and other state funds about this.

For settlements with participants, a bank account is opened. The direct collection of funds begins, which are then directed to the purchase or construction of residential buildings.

How is a cooperative managed?

If necessary, a corresponding management company may be involved in management.

A board dedicated to managing the cooperative must be organized. A chairman is selected from among the members of the board. He is endowed with numerous powers. The chairman of the cooperative is responsible for hiring workers.

In addition to the chairman, the organization must employ an accountant and a passport officer, as well as technical staff. Residents of one building can additionally decide to allocate a rate to a concierge or attendant. The organization draws up an agreement with the private security company to organize security of the facility.

All other members of the cooperative can be active even if there is a chairman. They regularly take part in meetings and also organize the activities of the enterprise free of charge. They can make decisions regarding the need to reconstruct a structure or carry out repairs to a building.

Entry rules

Many people realize the value and profitability of purchasing housing with the help of such savings cooperatives. To become a member of a cooperative, a rather complex legal procedure is required. This requires permission from other participants.

According to the Federal Law on housing savings cooperatives, to join such an organization, the following actions are performed:

• an application to join the association is initially formed;
• it is transferred to the chairman, after which this document is considered by the members of the cooperative;
• Any citizen over 16 years of age is allowed to join the organization, but minors must have their application certified by their parents or guardians;
• a person wishing to become a member of the association must study all the provisions of the charter, and he is also notified of the amount of the initial contribution;
• Next, the approval process is carried out, for which a meeting of residents is held;
• each participant can speak out regarding the need to admit a new member;
• a vote is held, the results of which decide whether the applicant will be accepted into the cooperative, and an open vote is required;
• the result of this vote is confirmed by a special act, after which a protocol is formed;
• the documents drawn up are kept at the enterprise for five years, since it is on the basis of them that it is proven that a new member of the organization can register property for himself and deposit various funds into the organization’s account.

As soon as the applicant becomes a member of the cooperative, he receives the right to dispose of property, owned by the company. This is due to the fact that he, together with other residents, becomes the owner of the house. Since joint ownership is used, each person must use the property and surrounding area responsibly. Additionally, it is required to maintain a register of each member of the cooperative, where the arrival and departure of citizens will be recorded.

What rights and responsibilities are given to members of the organization?

When creating such an association, all members are endowed with certain rights and responsibilities that citizens should be aware of. Fundamental rights include:

• disposal of common property;
• participation in meetings to resolve numerous issues related to buildings;
• purchasing housing for personal use, which requires paying the full amount of the contribution;
• selection of cooperative members on the board;
• class different types activities aimed at managing common property;
• having voting rights to manage the association;
• resolving issues regarding the need to repair or reconstruct a building;
• use of various benefits provided for by the statutory documentation;
• distribution of income received as a result of the activities of the association;
• obtaining information about the results of the enterprise’s work;
• sale, donation, exchange or inheritance of property if it belongs to a citizen by right of ownership;
• if a person leaves the cooperative, he can demand the return of his funds paid in the form of contributions;
• Well-designed residential properties are inherited.

But at the same time, each member of the cooperative has certain responsibilities. These include that they must follow all the rules listed in the bylaws. All orders adopted at the meeting are binding. All contributions, the amounts of which are prescribed in the charter, must be paid. Each participant is responsible for the building financial liability, as well as for other common objects or adjacent territory. If unforeseen situations arise, then all members of the cooperative bear risks within the limits of available savings.

How is the share paid?

All contributions made to the association's account are shares. The peculiarities of housing and savings cooperatives are that a participant can become the owner of a residential property only after the final payment of this share.

When initially joining the association, you must transfer to the cooperative entrance fee, and often its size is equal to half the cost of the apartment. Further, additional share payments are made periodically until the entire cost of the object is transferred to the company.

The size of the share is established at the opening of the enterprise, after which this information included in the constituent documents. Until the share is redeemed, the organization is the owner of the apartment, so it can manage and use it.

Thus, housing cooperatives are considered popular organizations, whose activities are regulated by the provisions of Federal Law No. 215. Purchasing apartments through such associations has many undeniable advantages, although such a solution also has some disadvantages. Every person planning to purchase real estate in this way must carefully evaluate all the nuances of this process. When joining a cooperative, the need to immediately make a down payment is taken into account, which is usually equal to half the cost of the apartment.

Housing savings cooperative created by citizens Russian Federation on a voluntary basis. Purpose of the association— meeting the housing needs of cooperative members.

To settle legal relations, Federal Law No. 215 “On Housing Savings Cooperatives” was created.

The essence of 215 Federal Law

Federal Law No. 215 “On Housing Savings Cooperatives” was adopted by the State Duma on December 22, 2004, and approved by the Federation Council two days later of the same year.

The law defines the economic, legal and organizational principles of the activities of cooperatives with the aim of using citizens' funds for the construction or purchase of new housing.

Read about the latest changes in Federal Law 89

Summary of Federal Law No. 215:

• Chapter 1 - lists the general provisions of this Federal Law;
• Chapter 2 - reveals the liquidation, creation or reorganization of a cooperative;
• Chapter 3 - lists the main provisions on the work of the cooperative, including the use or raising of funds for the acquisition of new residential premises;
• Chapter 4 - describes methods of managing a housing cooperative;
• Chapter 5 - controls the activities of the association and ensures financial stability activities;
• Chapter 6 - lists the transitional provisions and entry into force of the bill.

The latest changes to the law “On Housing Savings Cooperatives” were made on July 3, 2016.

Latest changes

As stated above, latest changes were introduced into Federal Law 215 “On Housing Savings Cooperatives” on July 3, 2016. In particular, the following articles have undergone changes:

Article 14 has changed part 3. The Bank of Russia may require the court to liquidate the cooperative if repeated requirements that were listed in this Federal Law have been violated.

Article 17 has changed paragraph 1 of part 1. It states that if a cooperative has created its own personalized charter, it must notify the self-regulatory organization about this. In particular, forms of participation in cooperatives should be accepted if such documents are available.

Paragraph 2 was changed. It states that information must be provided about the persons who are part of the housing cooperative. If a separate organization has been created that unites housing savings associations, then information about such an organization must be transmitted.

Article 20 contained a new version of Part 3. It states that the annual report, previously created by the cooperative, must be submitted to the Bank of Russia or a self-regulatory organization (if the Bank of Russia has delegated to it the authority to conduct an audit of financial statements).

Article 27

Part 6 of Article 27 was amended. The forms of participation that were established by this Federal Law can be sent by the housing cooperative to the self-regulatory organization in order to receive a conclusion in the form of an official document.

P 5 Article 48 was amended. It states that a member of the association has the right to contribute his housing in the form of a contribution to the pooled capital or otherwise participate in the creation of property of legal entities. An exception is the creation of property for a self-regulatory organization in the field of the financial market, which united several housing savings associations.

Clause 8, Part 1, Article 51 was amended. It states that the Bank of Russia can receive from the self-regulatory organization and housing cooperatives copies of documents that are necessary for preliminary assessment established requirements on financial statements.

Part 1, Article 56 was set out in a new edition. It states that housing savings cooperatives can join a self-regulatory organization that unites similar organizations. For this purpose, the procedure of the Federal Law “On Self-Regulatory Organizations in the Financial Market” is applied. Additionally, legislative acts that were adopted by the Bank of Russia are taken into account. Documents must be accepted within 90 days after one of the following events occurs:

• The non-profit organization received the status of a self-regulatory organization in the field of the financial market;
• Participation in a self-regulatory organization has been completed;
• A housing savings cooperative was created.

Below are the main articles of the Federal Law “On Housing Savings Cooperatives”:

Provides for the responsibility of the association. The cooperative is responsible for its own obligations and property belonging to it. However, it is not responsible for the obligations of its members.

Article 7 Federal Law 215

Article 7 lists the rights of members of cooperatives:

• participate in their activities and nominate oneself for management positions;
• agree or be against acquisitions for the merger;
• enjoy the benefits provided;
• request information of interest from the manager;
• bequeath or transfer your share for free use;
• upon transfer of your share, receive funds;
• claim the residential premises required by law.

Download the law on housing savings cooperatives

The Federal Law “On Housing Savings Cooperatives” regulates relations related to the activities of organizations, the procedure for their creation and the rights and obligations of participants. To learn more about latest edition Federal Law, download it from .