An attempt to determine the legal basis of property relations that emerge between a consumer society and its members is made in the article, because regulatory affairs of this issue are not resolved to date. The only statutory instrument that provides for collective ownership is the Economic Code of Ukraine. There is a necessity to make appropriate ammendments connected with the allocation of legal entities which are the subjects of collective ownership that would validate the status of such legal entities as the subjects of private ownership. All basic means of consumer cooperation of Ukraine are divided into indivisible and divisible public property. Indivisible public property is a set of non-current assets (fixed assets) of a consumer society, consumer unions, which are not subjects to distribution and are useful to both current members of consumer societies and to future generations. Divisible public property is a set of non-current assets (fixed assets) of a consumer society, consumer unions, which, in accordance with the legislation of Ukraine and the normative acts of the Central Union of Consumer Societies of Ukraine, can be converted into current assets, as well as contributed into the authorized capital of other enterprises and organizations, pledged, leased, etc. In case of industrial necessity, the transfer of objects of fixed assets, buildings, structures from indivisible public property to divisible public property or from divisible public property into indivisible public property shall be carried out by the decision of the higher management bodies of consumer societies, but such transfer shall also be carried out with the prior consent (decree) board of the Regional Consumer Union, Central Union of Consumer Societies of Ukraine. Consequently, consumer societies are deprived of the ability to exercise the powers of the owner independently in respect of their assigned property.

Key words: cooperative society, consumer society, property relations, ownership.

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