A cooperative company is not a private company and it is not a capital company, but it is described as a purely commercial company like any other company
And it was called the cooperative because it is companies with variable and joint projects

Founded by real and legal persons in order to provide and protect the specific economic interests of the partners, especially their needs relating to their professions or livelihoods through mutual assistance, solidarity and guarantee with their work and monetary contributions
And in this type of company, there must be at least seven partners, and its board of directors consists of at least three people who are Turkish citizens and who meet other legal requirements. Members of the board of directors may be elected for a maximum period of four years unless otherwise stipulated in the company’s articles of association, and they may be re-elected

In this company, each partner pledges a minimum of one thousand shares and a maximum of five thousand shares, and the value of the partnership share is 100 Turkish liras.
It is agreed that the partners will be responsible for the unlimited liability of the second degree to the cooperating creditors, or they are limited to a certain amount more than the share of the capital that they have committed to, of course, provided that the articles of incorporation of the company do not contain other provisions.

One or more auditors in Turkey are elected by the general assembly as a supervisory body for the cooperative company for a period of at least one year. The auditors are required to be a member of the board of directors.

All partners may participate in the cooperative general assembly three months before the general assembly, and this condition is not required for the establishment of cooperative companies