Shares issued for cash are those of which the amount is paid in cash or by offset of debts of a fixed, certain and due amount to the cooperative, those that are issued as a result of the incorporation to the capital of free reserves for allocation whose amount comes partly from an incorporation of reserves, free allocation and partly from paid-up cash. These must be fully paid upon subscription.
The shares that represent in-kind contributions shall be those issued in exchange of in-kind contributions.
The issuance of the beneficiary shares or founding members’ shares shall be prohibited.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 93
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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