(1) the land, forests, mountain ridges, grasslands, unreclaimed land and mud ats that are provided by law to be owned by collec ves; (2) the buildings, produc on facili es, and farmland water conservancy facili es that are owned by collec ves; (3) the educa onal, scien c, cultural, public health, sports, and other facili es that are owned by collec ves; and (4) any other immovable and movable property that are owned by collec ves. Ar cle 261 The immovable and movable property of a farmer collec ve are collec vely owned by the members of this collec ve. The following ma ers shall be decided by the collec ve’s members in accordance with statutory procedures: (1) land contrac ng schemes, and the subcontrac ng of land to any organiza on or individual outside this collec ve; (2) adjustment to the contracted land among the persons who have the right to contractual management of land; (3) methods for the use and distribu on of funds such as land compensa on fees; (4) ma ers such as changes in the ownership of enterprises invested by the collec ve; and (5) other ma ers as provided by law. Ar cle 262 With respect to the collec vely-owned land, forests, mountain ridges, grasslands, unreclaimed land, mud ats, and the like, the ownership thereof shall be exercised in accordance with the following provisions: (1) where they are owned by the farmer collec ve of a village, the ownership shall be exercised collec vely by the collec ve economic organiza on of the village or the villagers’ commi ee on behalf of the collec ve in accordance with law; (2) where they are owned by two or more farmer collec ves within a village, the ownership shall be exercised by the respec ve collec ve economic organiza ons or the villagers’ groups on behalf of the collec ves in accordance with law; and (3) where they are owned collec vely by the farmer collec ve of a rural-town, the ownership shall be exercised by the economic organiza ons of the town on behalf of the collec ve. Ar cle 263 With respect to the immovable and movable property owned by an urban-town collec ve, the collec ve is en tled to possess, use, bene t from, and dispose of such property in accordance with laws and administra ve regula ons. Ar cle 264 Rural collec ve economic organiza ons, villagers’ commi ees, and villagers’ groups shall make the situa on of the collec vely-owned property known to the members of this collec ve in accordance with laws, administra ve regula ons, and their ar cles of associa on, as well as the local covenants. Members of the collec ve have the right to retrieve and make copies of the relevant materials. Ar cle 265 The property owned by a collec ve is protected by law, and no organiza on or individual may misappropriate, loot, secretly distribute, or destruct such property. Where a decision made by a rural collec ve economic organiza on, a villagers’ commi ee, or the person in charge thereof infringes upon the lawful rights and interests of a member of the collec ve, the infringed member may request the people’s court to revoke the decision. Ar cle 266 A private individual has the right to own his lawful income, houses, ar cles for daily use, produc on tools, raw materials, as well as other immovable and movable property. Ar cle 267 The property lawfully owned by a private individual is protected by law, and no organiza on or individual may misappropriate, loot, or destruct such property. Ar cle 268 The State, collec ves, and private individuals may establish companies with limited liabili es, ti ti ti ti ti ti tt ti ti ti ti ti fl tt ti ti ti ti ti ti ti tt ti ti ti ti ti ti ti ti ti ti ti fi ti ti ti ti ti ti ti ti ti fi ti ti ti ti ti ti ti ti ti tt ti ti ti ti ti tt fl ti ti ti tt ti ti ti ti ti ti ti ti ti ti ti ti ti ti 30