The dissolution of the cooperative network of means or goals shall entail its liquidation. The legal personality of the network shall remain valid for the purposes of liquidation.
The liquidation shall be carried out in accordance with the provisions of the agreement. Failing this, a liquidator shall be appointed by the general meeting of the members of the network or if the meeting is unable to proceed with such appointment, by the decision of the competent court.
After payment of debts, surplus assets shall be vested either to other networks of cooperatives or to cooperatives of one of the States Parties, or to one or several organizations that support and promote cooperatives.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 46
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 166 of the Acte uniforme relatif au droit des sociétés coopératives/akn/ohada/act/loi/2010-12-15/auscoop-2010
Report an error in this text
AI features are in beta
Where an official English or French text exists, we show it; where none does, we give
a translation, clearly marked as one and never presented as the official text. We make
every AI feature as accurate as we can, but it can be wrong and is not legal advice —
always check the cited official text.