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Part 2 · Special provisions  ›  Division 5 · Merger involving registered cooperative societies › Section 97

Obligations of the representative bodies of the legal entity being acquired

(1) The by-laws of the new cooperative society are to be established by the entirety of the members of the representative body of each of the legal entities being acquired, who all are to sign it.

(2) The representative bodies of all legal entities being acquired are to appoint the initial supervisory board of the new cooperative society. The same applies to the appointment of the initial management board, unless the by-laws of the new cooperative society stipulate a different form of appointing the board of directors than the election by the general assembly.

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