The merger or dissolution shall take effect:
1) In case of creation of one or more new cooperatives, on the date of registration at the Register of Cooperatives of the new cooperative or of the last of them; each new cooperative shall be formed in accordance with the rules governing the adopted form of the cooperative;
2) In other cases, at the date of the last general meeting that approved the transaction unless the agreement referred to in the foregoing article provides that the transaction takes effect at another date, which shall not be later than the date of the close of the current financial year of the beneficiary cooperative (s) or prior to the closing date of the last ending financial year of the cooperative (s) that assign (s) its/their assets.
Title7:Dissolution - Liquidation of a cooperative
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 48
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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