Cash contributions shall be effected by transferring ownership of the amount of money that the shareholder has pledged to contribute to the cooperative.
Cash contributions for the constitution of capital set for the formation of the cooperative shall be paid in full during the constitution of the cooperative unless otherwise provided for by this Uniform Act. The same shall apply to the admission of members during the cooperative life,
except otherwise provided for in the Articles of Association. Only cash contributions deemed
fully paid shall be sums over which the cooperative has acquired ownership and which have been fully and finally collected.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 19
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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Section 34 of the Acte uniforme relatif au droit des sociétés coopératives/akn/ohada/act/loi/2010-12-15/auscoop-2010
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