(1) The supervisory board consists of three persons. The articles of association may fix a specific higher number, which must be divisible by three. The maximum number of supervisory board members is 21.
(2) At associations to which the One-Third Participation Act applies under section 1(1), point 4, of that Act, the supervisory board is composed of supervisory board members elected by the highest representative body and of supervisory board members representing the employees. At the other associations, the supervisory board is composed only of supervisory board members elected by the highest representative body.
(3) Section 30(2) and (3), first and second sentences, first half-sentence, section 96(4), sections 97 to 100, 101(1) and (3), sections 102 and 103(1) and (3) to (5), and sections 104 to 111 and 112 to 116 of the Stock Corporation Act apply correspondingly to the supervisory board. The highest representative body must here perform the tasks assigned there to the general meeting. The right to apply under section 98(2), point 3, and section 104(1), first sentence, of the Stock Corporation Act belongs to every member of the highest representative body. Subsection (4) applies in addition to section 116 of the Stock Corporation Act.
(4) The supervisory board members are obliged to provide compensation, in particular, where the acts named in section 188(2) are carried out with their knowledge and without their intervention.
Part 2 · Provisions for direct insurance and reinsurance › Chapter 4 · Mutual insurance associations › Section 189
Supervisory board
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