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Laws & Regulations Database of The Republic of China (Taiwan)

Print Time:2024/11/22 14:05
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Chapter Law Content

Title: The Farmers Association Act CH
Category: Ministry of Agriculture(農業部)
Chapter VIII Funds
Article 38
The funds of a farmers association come from the following sources:
1. Initiation fees: Payable in a lump sum upon entry of membership at the rates to be determined in a resolution adopted by the general meeting of members (representatives) and approved by the competent authorities concerned;
2. Annual membership dues: Payable annually by members at the rates to be determined in a resolution adopted by the general meeting of members (representatives)and approved by the competent authorities concerned while a sum twenty percent (20%)of the annual membership dues received by a lower-level farmers association shall be turned in to its superior farmers association;
3. Business funds: Exclusively for use of running businesses, with the rules and regulations governing the fund-raising to be adopted in the general meeting of members(representatives) and filed on record with the competent authorities concerned;
4. Revenues from raised agricultural extension funds: Exclusively for use of agricultural extension business to be filed on record with the competent authorities concerned;
5. An agricultural financial organization shall appropriate a part of the net profits made annually, or at least ten percent(10%)of the profits in this regard, as a fund for agricultural service and extension of a farmers association at any level;
6. Government subsidies: Government authorities at central and local levels shall set aside part of their budgets for subsidization of farmers associations for agricultural extension businesses;
7. Revenues from profits made by a farmers association from its businesses and government-commissioned businesses: Subject to the rules and regulations governing the final income statements of a farmers association’s businesses;
8. Other revenues.
Article 39
The economic, financial, insurance and agricultural extension businesses of a farmers association shall hold separate accounting systems, with their budgets and final income statements prepared and reported to the general meeting of members(representatives)and submitted to the competent authorities concerned for reference.
Article 40
Following the annual final account, a farmers association shall count the remaining profits made from different businesses as the overall profits of the association after part of the income earned in this regard is appropriated as reserves of those businesses concerned.
The overall profits of a farmers association, except those used to make up previous losses, if any, shall be allocated at the following ratios:
1. Legal reserves: Fifteen percent(15%);
2. Funds for public interests: Five percent(5%);
3. Funds for agricultural extension, training, culture and welfare businesses: No less than sixty-two percent(62%);
4. Funds for inter-organizational extension, mutual aid and training services among farmers associations at all levels: Eight percent(8%);
5. Remunerations for board directors, supervisors and association staff: No more than ten percent(10%).
The rules and regulations governing the custody and application of the aforementioned legal reserves as per Clause 1, funds for public interests as per Clause 2, and funds as per Clause 4 shall be established by the central-level competent authorities.
The ratio of the profits made from different businesses to be appropriated as reserves of those businesses concerned as mentioned in Paragraph 1 under this Article shall be established by the central-level competent authorities together with the central-level target-business competent authorities.
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