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Part 2 · Special provisions  ›  Division 5 · Merger involving registered cooperative societies › Section 89

Entry in the list of members of the cooperative society’s members; notification

(1) Following entry of the merger in the register maintained at the seat of the acquiring cooperative society, the acquiring cooperative society is to register each new member in the list of members without undue delay and is to notify said members of this fact without undue delay. Furthermore, the acquiring cooperative society is to enter in said list the number of business shares held by the respective member wherever a member holds an ownership interest comprising more than one business share.

(2) The acquiring cooperative society is to notify each holder of shares in a legal entity being acquired, and in the case of unknown stockholders the trustee of the company being acquired, of the following, doing so without undue delay and in text form:

1.  the amount of the respective member’s capital contribution to the acquiring cooperative society;

2.  the amount of the respective member’s business share in the acquiring cooperative society;

3.  the number of business shares comprising the ownership interest held by the holder of shares in the acquiring cooperative society;

4.  the amount that, after the amount of the member’s capital contribution has been credited, the member is to pay in, or the amount that is to be disbursed to the member pursuant to section 87 (2) or pursuant to section 88 (1); as well as

5.  the liability amount of the acquiring cooperative society, should its members have to provide additional funding up to a liability amount.

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