Legal Framework
Unlike the aksjeselskap (AS), a regular stock-based limited company, the BA is structured either as a Særlovsselskap, a company founded under a particular act of legislature or as a cooperative. In the latter case, the limitations and legal framework is set out in the of 1997 ss 1-1(3).3, a Norwegian Act of Parliament relating to limited liability companies covering: "companies formed in order to promote the members' consumer or professional interests or companies formed to secure employment for the members"
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