Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ Where cap­it­al con­tri­bu­tions are ac­quired through in­her­it­ance, dis­tri­bu­tion of an es­tate, mat­ri­mo­ni­al prop­erty law or en­force­ment pro­ceed­ings, all re­lated rights and ob­lig­a­tions are trans­ferred to the ac­quirer without re­quir­ing the con­sent of the mem­bers’ gen­er­al meet­ing.

² In or­der to ex­er­cise vot­ing rights and re­lated rights, however, the ac­quirer re­quires the re­cog­ni­tion of the mem­bers’ gen­er­al meet­ing as a com­pany mem­ber who is eli­gible to vote.

³ The mem­bers’ gen­er­al meet­ing may re­fuse such re­cog­ni­tion only if the com­pany of­fers to ac­quire the cap­it­al con­tri­bu­tions from the ac­quirer at their true value. The of­fer may be made for the com­pany's own ac­count or for the ac­count of oth­er com­pany mem­bers or third parties. Un­less the ac­quirer re­jects the of­fer with­in a month of re­ceiv­ing no­tice of the true value, the of­fer is deemed to be ac­cep­ted.

⁴ Un­less the mem­bers’ gen­er­al meet­ing re­jects the re­quest for re­cog­ni­tion with­in six months of its re­ceipt, re­cog­ni­tion is deemed to be gran­ted.

⁵ The art­icles of as­so­ci­ation may waive the re­quire­ment of re­cog­ni­tion.