Transfer of the credit balance

(1) Every member may, at any time, transfer its credit balance, wholly or in part, to another by agreement in text form, and thereby end its membership without settlement, or reduce the number of its shares, provided the acquirer, in the case of a complete transfer, in place of the member, joins the cooperative or is already a member of the cooperative, and the previous credit balance of that member, together with the amount to be credited to it, does not exceed the share. A partial transfer of credit balances is void insofar as the member is obliged, under the statutes or an agreement with the cooperative, to participate with several shares, or the participation with several shares is a condition for a benefit of the cooperative used by the member.
(2) The statutes may exclude a complete or partial transfer of credit balances, or make it subject to further conditions; this does not apply to cases in which the statutes determine, under section 65(2), third sentence, a notice period of more than five years, or in which the claim under section 73(2), second sentence to payment of the settlement credit is restricted under section 8a or section 73(4).
(3) On the termination of membership and the reduction of the number of shares, section 69 applies correspondingly.
(4) Where the cooperative is dissolved within six months after the termination of membership, the former member must, in the event of the opening of insolvency proceedings, make the additional contributions to which it would have been obliged, insofar as the acquirer cannot make them.
(5) Where, under the statutes, a member may participate with more than one share, these provisions apply with the proviso that the transfer of the credit balance to another member is permissible, provided the credit balance of the acquirer, after crediting the credit balance of the transferor, does not exceed the total amount of the shares with which the acquirer is participating or comes to participate.