Notice of withdrawal on continuation of the cooperative

(1) Where the continuation of the cooperative is resolved under section 117, the following may give notice of withdrawal: 1. every member who appeared at the general meeting, where it declared objection to the resolution for the minutes, or where the inclusion of its objection in the minutes was refused; 2. every member who did not appear at the general meeting, where it was wrongly refused admission to the general meeting, or the meeting was not properly convened, or the subject matter of the resolution not properly announced. Where a representative meeting has resolved the continuation of the cooperative, every member may give notice of withdrawal; the first sentence applies to the representatives.
(2) The notice of withdrawal requires text form; the statutes may prescribe written form for the notice of withdrawal. It may be given only within one month for the close of the business year. The period begins, in the cases of subsection (1), first sentence, number 1, with the adoption of the resolution, and, in the cases of subsection (1), first sentence, number 2, with obtaining knowledge of the adoption of the resolution. Where the point in time of obtaining knowledge is disputed, the cooperative bears the burden of proof. In the event of withdrawal, the resolution on the continuation of the cooperative has effect neither for nor against the member.
(3) The point in time of the termination of membership is to be entered in the list of members without delay; the member is to be notified of this without delay.
(4) For the settlement of the former member with the cooperative, the opening balance sheet prepared for the continuation of the cooperative is decisive. The member's credit balance is, subject to section 8a(2) and section 73(4), to be paid out within six months after the termination of membership; subject to section 73(3), it has no claim to the reserves and the other assets of the cooperative.