The simplified cooperative shall be headed by a management committee consisting of three members at the most. When a cooperative has at least one hundred members or when such number is reached during its life, the number of members of the management committee may be changed from three to five in the articles.
The general meeting shall elect the members of the management committee from among its members, who are natural persons, by a simple majority unless a clause in the articles requires a stronger majority.
The management committee shall appoint a chairman among its members.
The articles shall organize the management of a simplified cooperative.
Paragraph 2: Term of office
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 59
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