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Part 2 · Special provisions  ›  Division 4 · Change of legal form by associations having legal personality › Section 288

Effects of the change of legal form

(1) Each member obtaining the legal status of a member of the cooperative society will hold an ownership interest in the cooperative society in accordance with the stipulations of the resolution on change of legal form. An obligation to assume further business shares remains unaffected. Section 255 (1) sentence 3 is to be applied accordingly.

(2) The court may not mandate of its own motion that the cooperative society be wound up in accordance with section 80 of the Trade & Industrial Cooperative Societies Act before one year has lapsed after the change of legal form has taken effect.

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