Foundation Business Management

Commercial enterprise according to the Turkish Commercial Code; It is an enterprise that carries out its economic activities continuously and independently and aims to generate income at a level exceeding the limit foreseen for tradesmen. Again, according to the same law, the person who runs a commercial enterprise, even partially, on his own behalf and account is called a Merchant.
Which legal entities will be considered as merchants is regulated by Article 16 of the TCC, and according to the governing provisions of this article, Trade Companies, Associations, Foundations and institutions and organizations (SOE) established for commercial purposes by organizations with Public Legal Entities are considered merchants.
TCC – ARTICLE 16 – (1) The state, special provincial administrations, municipalities and villages and other public legal entities to be managed or commercially operated in accordance with the provisions of private law as per their own establishment laws, foundations, associations and foundations operating a commercial enterprise with commercial companies The institutions and organizations established by Ş. are also considered as merchants.
The commercial enterprise operated by the merchant does not have a legal entity itself. The important thing is who runs the business on his behalf, namely the merchant. When we look at the Associations from this aspect, the person who is legally accepted as a merchant in accordance with Article 16 of the Turkish Commercial Code, whose full text is given above, is the legal entity of the Association itself. The board by the associations does not have the legal personality of the economic enterprises, and the economic enterprises of the associations are not legally considered as merchants, the merchant status and the responsibilities arising from commercial activities are given to the association with the original legal personality.

The management body of new foundations is formed according to the foundation deed. In Turkey, the majority of managers are required to have built.
If there is a loss in the organs of these foundations due to death, resignation or any other reason, the deficiency is completed according to the provisions of the foundation deed. If there is no provision in the foundation deed; First of all, the deficiency is corrected by changing the deed. But;
In the event that the quorum cannot be achieved due to the decrease in the authorized body of the foundation deed change, the decision taken by the authorized body without considering the quorum for the foundation deed change
The decision of the body authorized to execute, in the event that the body authorized to change the foundation deed is absent or if there is no member left,
In case the quorum cannot be achieved due to the deficiencies in the executive body, the decision taken without considering the quorum
Applied to the court with. The deficiency in the organs is completed by obtaining the written opinion of the General Directorate of Foundations by the court.
Following the decision of the court, the necessary deed change is made for the completion of the deficiencies in the organs.

Changing the way of administration

If there are justifiable reasons, the court may change the organization, management and operation of the foundation after obtaining the written opinion of the other upon the request of the management body of the foundation or the General Directorate of Foundations.
The amendments to be made in the provisions of the foundation deed, the conditions of benefiting from the foundation and the participation of the beneficiaries in the charity foundations for the employed and the workers, are decided by the court upon the decision of the body that is stated to be authorized in the foundation deed, after the written opinion of the General Directorate of Foundations is received.
Among the foundations established in accordance with Article 468 of the Turkish Commercial Code, the changes to be made in the foundation deeds of the foundations that are subject to the provisions of the provisional article 20 of the Social Insurance Law numbered 506 are decided by the court of residence, after obtaining the written opinion of the General Directorate of Foundations, after the approval of the Ministry of Family, Labor and Social Security.

Change of address and foundation managers

Foundations;
Address changes to be made in the same settlement that do not require a change of bill, within 15 days from the date of the change by filling out the form in Annex-23
The names of those elected to the management body and their addresses for notification within 15 days from the date of the election by filling out the form in Annex-24,
the relevant Foundations must submit it to the Regional Directorate.

Evaluation of foundation assets

Foundations, assets, and evaluate economic rules by overseeing risks, invest their money in banks established in Turkey

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