Shares issued for cash are those of which the amount is paid in cash or by offset of debts of a fixed, certain and due amount to the cooperative, those that are issued as a result of the incorporation to the capital of free reserves for allocation whose amount comes partly from an incorporation of reserves, free allocation and partly from paid-up cash. These must be fully paid upon subscription.
The shares that represent in-kind contributions shall be those issued in exchange of in-kind contributions.
The issuance of the beneficiary shares or founding members’ shares shall be prohibited.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 93
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 377 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.