Exclusion of a member

(1) The grounds on which a member may be excluded from the cooperative must be determined in the statutes. Exclusion is permissible only for the close of a business year.
(2) The resolution by which the member is excluded is to be notified to the member by the management board without delay, by registered letter. The member loses, from the point in time the notification is sent, the right to take part in the general meeting or the representative meeting, and its membership of the management board or supervisory board.