The articles may provide for the return on capital. Where the articles of the cooperative provide for the return on capital, the interest granted thereto cannot be higher than the Central Bank discount rate of the State party and should be served only if there were surpluses during the fiscal year. The interest may be accrued only to the amount of paid-up shares.
The annual ordinary general meeting, on a proposal of the management committee and in light of the earnings of the year ended shall decide whether to award interest on membership shares and, where appropriate, shall set the rate in the limit laid down in paragraph 1 above.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 56
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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