Cooperatives

The establishment of a cooperative must be verified in the form of a notarial deed. This is also the case for any decisions on the change of its articles of association or the winding up of the cooperative. A notarial deed on the establishment of a cooperative contains the verification of any issues arising during meetings. Furthermore, the notary will draw up a notarial deed on the decision of the constitutive meeting approving the articles of association of the cooperative.

Pursuant to Czech law, a notary also verifies the first meeting of the assembly of a housing cooperative. Members approve the articles of association of the housing cooperative and vote for cooperative bodies.

In the Czech Republic, notaries perform a notarial activity, provide legal assistance, perform property administration, and perform other activities for which they are entitled compensation the amount of which, as well as the manner in which it is established, is governed by the provisions of the Decree No. 196/2001 Coll., as amended. The amount of notary's remuneration shall be determined in accordance with the compensation rate per act or total of acts concerning the notary's activity determined by a fixed amount or as a percentage of a tariff rate, whereas the value of the subject of the act serves as the tariff value (e.g. the usual price of a thing, the price of transferred property, the amount of a claim, etc.). Due to a complex calculation of the compensation for the notary's activity, the potential applicants / clients are recommended to address their possible inquiries directly to the notary having the sufficient knowledge of the relevant language.

Notary fee for the foundation of a Co-operative