P. 57 of 110
Members can organize a friendly liquidation of the cooperative when the provisions of the
articles soauthorize.
In such a case, the articles shall:
- prescribe the conditions for carrying out the liquidation, including the appointment of the
liquidator (s), his/their remuneration, the scope of his/their mandate, control arrangements
of his/their mandate by members.
- define provisions relating to the liquidation surplus, which may be allocatedto other
cooperatives governed by the provisions of this Uniform Act or institutions or
organizations working for the promotion of the cooperative movement.
- Prescribe also procedures for settlement of disputes that may arise between the parties
concerned in the liquidation.
Any clause stipulating that memberswaive their right to go to the competent court when
problems cannot be dealt with according to the provisions laid down by the articlesshall be
deemed unenforceable.
Unofficial translation
Machine-parsed
In force from 8 September 2026
Source page 56