Supervisory board

(1) The supervisory board consists, unless the statutes fix a higher number, of three persons to be elected by the general meeting. The number required for a resolution is to be determined by the statutes.
(2) The members of the supervisory board may not receive remuneration measured by the business result.
(3) The appointment as a member of the supervisory board may also be revoked by the general meeting before expiry of the period for which it was elected. The resolution requires a majority comprising at least three-quarters of the votes cast.
(4) At a cooperative that is an undertaking of public interest within the meaning of section 316a, second sentence, no. 1 or 2 of the Commercial Code, the members of the supervisory board must, in their totality, be familiar with the sector in which the cooperative operates; at least one member must have expertise in the fields of accounting or auditing.
(5) By way of derogation from subsection (1), first sentence, the statutes may provide that particular members have the right to delegate members to the supervisory board. The number of persons delegated to the supervisory board under the first sentence may not, together with the number of investing members on the supervisory board, exceed one-third of the members of the supervisory board.