The duration of the cooperative may be extended one or more times. The decision of extension shall state the duration.
The extension of the duration of the cooperative shall be determined, for each form of cooperative, under the conditions provided by this Uniform Act for the amendment of the articles.
One year at least before the expiry date of the duration of the cooperative, members must be consulted in order to decide whether it should be extended. Failing this, any member may petition the competent court that shall rule expeditiously within the jurisdiction in which is located the registered office for the appointment of an agent to be responsible for organizing the consultation provided for in this paragraph.
The extension of the duration of a cooperative shall not entail the creation of a new legal entity.
Sub-Section 7: Contributions Paragraph 1: General Provisions
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 18
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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