The law establishing the NLCF was passed by Chun's National Security Legislative Council on December 15, 1980, establishing the NLCF with 100 cooperatives on January 1, 1981, (104) The original law established the NLCF as an agent of the government; the MAF minister had the authority to appoint the NLCF president, and the NLCF president had the authority to appoint local cooperative presidents.
In the election of the NLCF president, each local cooperative president has one vote regardless of the cooperative size or the amount the local cooperative has invested in the NLCF.
The NLCF and local cooperatives have been granted the legal authority to engage in a wide range of business practices.
Ketchikan Title Agency, commercial real estate, Ketchikan; APM LLC, construction, Yorba Linda, CA; NLCF
LLC, construction, Fairbanks; Cape Fox Professional Services LLC, information technology, Manassass, VA; US2 LLC, information technology, Hockessin, DE; DJR Associates Inc.