Istitelné

Istitelné is a term used in the Czech legal system to describe a type of legal entity, specifically a cooperative. Cooperatives in the Czech Republic are governed by the Cooperative Act (Zákon o družstevnictví), and the term "istitelné" refers to the legal capacity or standing of these entities.

A cooperative, or "istitelné družstvo" in Czech, is a voluntary association of individuals or legal entities that come together to meet common economic, social, or cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. The principle of "istitelné" underscores the fact that cooperatives, once registered and established according to the law, possess legal personality. This means they can enter into contracts, own property, sue, and be sued in their own name, independent of their members.

The legal capacity of cooperatives is a crucial aspect of their operation, as it allows them to function effectively in the market and interact with other legal entities. It also provides a degree of protection for the members, as their personal assets are typically separate from the assets of the cooperative.

The term "istitelné" is derived from the Czech verb "istit," which means to confirm or verify, reflecting the verified and confirmed legal status of these entities. This legal standing is granted upon registration with the relevant authorities, following the fulfillment of certain conditions and procedures outlined in the Cooperative Act.

In summary, "istitelné" is a key concept in Czech cooperative law, denoting the legal capacity and standing of cooperatives, which enables them to operate as independent legal entities.