Article 24 of the Saudi Cooperative Societies Law

This article sets what falls within the powers of the general assembly, which under Article 1 is all the members who contribute to the society's capital. It has nine powers:

1. Discussing the board of directors' reports and the Ministry's remarks on the society, and taking appropriate decisions on them.
2. Approving the balance sheet and final accounts for the financial year just ended.
3. Discussing and approving the annual plan and the estimated budget for the next financial year.
4. Approving the profit distribution proposal, and deciding how the general reserve is invested.
5. Electing the members of the board of directors and the reserve members.
6. Appointing the external auditor and setting his fees.
7. Deciding objections and appeals filed against any decision issued by the board of directors.
8. Setting the maximum for financing and the obligations that the society's work requires.
9. Considering other matters relating to the society's business that fall within its powers under the Law and the Regulations.

One of the most important of these powers for a member is item 7: if the board of directors issues a decision the member objects to, the general assembly is, according to the text, the internal body that decides the objection.

Note also that oversight of the board is achieved by discussing its reports, electing it, and appointing an external auditor independent of it.

Members exercise these powers under Article 23, which gives each member one vote however many shares he owns, and allows him to appoint another member who is not on the board as proxy. Article 25 follows with the extraordinary meeting to consider graver matters, such as amending the basic regulations, disposing of real estate holdings, and dissolving, merging or dividing the society.

Anyone who wants to object to a decision of their society's board can consult a lawyer who specializes in commercial and corporate cases.