SECTION 363

The ordinary general meeting shall take all decisions other than those expressly stipulated in Article 366 herein for extraordinary general meetings. It shall be competent to: - decide on the summary financial statements; - decide on the distribution of earnings; - appoint members of the board of directors and possibly auditors; - approve or reject agreements entered into between officers and the cooperative with a board of directors; - authorize issuance of shares when the articles so provide; - Appoint members of the supervisory board. Sub-section 2: Meeting, quorum and majority Article364 P. 100 of 110 The ordinary general meeting shall meet at least once a year, within six months of the close of the fiscal year, subject to the extension of this period by a court decision. The ordinary general meeting shall validly deliberate on first convening, if half of the members of the cooperative with a board of directors are present; on the second call, the presence of at least a quarter of these shareholdersis sufficient. By derogation from the provisions of the preceding paragraph, the articles of cooperatives with more than a thousand shareholdersmay provide for a lesser quorum.