The articles provide for the constitution of a general reserve by annual levies on the operating net surpluses before any other allocation.
The articles provide in the same conditions as in the paragraph above, the constitution of a reserve for training, education and awareness campaign to cooperative principles.
Insofar as each of these legal reserves does not reach the amount of capital determined by the articles, levies made in respect of each reserve may be less than twenty per cent of the net operating surpluses.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 36
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 114 of the Acte uniforme relatif au droit des sociétés coopératives/akn/ohada/act/loi/2010-12-15/auscoop-2010
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