Members may, in the Articles of Association, or in a separate document or, where applicable, during the general organizational meeting, grant powers to one or more officers, depending on the case, to make commitments on behalf of a formed cooperative, but not yet registered in the
Register of Cooperatives. Provided that such commitments are defined and their scope specified
in the terms of reference, the registration of the cooperative means that the cooperative is taking over such undertakings.
Acts exceeding the powers conferred to officers in their terms of reference, or unrelated to such terms, may be taken over by the cooperative provided that they have been approved by the ordinary general meeting under the conditions set forth in this Uniform Act for each form of cooperatives unless otherwise provided for in the Articles of Association.
Members who have undertaken such acts and commitments shall not vote and their votes shall not be taken into account in the calculation of quorum and majority.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 32
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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