The simplified cooperative may be converted into a cooperative with a board of directors or a
cooperative not governed by this Uniform Act. Where appropriate, the provisions of Articles
167 to 173 above shall not apply.
The conversion of the simplified cooperative may only be realized where it has, at the time the conversion is planned, an equity in the amount at least equal to its share capital and it has drawn balance sheets of its two last financial years and submitted them for approval to the members.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 66
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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