Genossenschaftsgesetz

The Genossenschaftsgesetz, often abbreviated as GenG, is the German federal law governing cooperatives. It defines the legal framework for the establishment, organization, and operation of cooperative societies in Germany. The GenG outlines the rights and obligations of cooperative members, the responsibilities of the cooperative's management bodies, and the procedures for auditing and dissolution. It aims to promote the cooperative principle, which emphasizes mutual assistance and self-help among members.

The law distinguishes between different types of cooperatives, such as those for agricultural purposes, housing, consumer goods, or credit. A key aspect of the GenG is its focus on democratic member participation, typically through a general assembly where members have voting rights. It also addresses issues like liability, capital requirements, and profit distribution. The GenG ensures legal certainty and provides a reliable structure for cooperative enterprises, which play a significant role in the German economy. Amendments to the GenG are made to adapt the law to evolving economic conditions and societal needs, while maintaining the core cooperative values.