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Section 120

Reduction of the liability sum

(1) Section 22(1) to (3) applies correspondingly to the reduction of the liability sum. The right under section 22(2), first sentence vests in the creditors, however, only where they make credible that, through the reduction of the liability sum, satisfaction of their claim is endangered.
(2) Where, over the assets of the cooperative with reduced liability sum, insolvency proceedings are opened within two years after the day on which the registration of the reduction of the liability sum was published in the register of cooperatives, every member whose obligation to make additional contributions was reduced by the reduction of the liability sum is obliged to make additional contributions in the amount to which it was obliged to make them before the reduction of the liability sum. Sections 105 to 115b apply correspondingly, with the proviso that only such obligations are to be taken into account as had already arisen at the point in time of the reduction of the liability sum.

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